SEOUL, Nov. 16 (Korea Bizwire) — South Korea’s top health and beauty (H&B) store operator, CJ Olive Young, said Wednesday it plans to nurture a product category dedicated to women’s wellness, as it sees growing interest in the category among young Korean women.
Under the name of “W Care,” the retailer plans to offer various products related to women’s wellness and reproductive health, such as menstrual pads, underwear and vaginal cleansers.
A dedicated section for the category will be opened at key brick-and-mortar stores starting by the end of November, it said.
The new product category comes as CJ Olive Young sees a growing interest in such products among young Korean women.
“We are seeing more female consumers who want to make independent decisions on products that support maintaining a healthy lifestyle,” a company official said.
The global market for “Femtech” — a portmanteau of female and technology — is estimated to reach 80 trillion won (US$60.5 billion) by 2027.
CJ Olive Young, an H&B retail affiliate of CJ Group, runs some 1,270 offline stores in the country. It is the No. 1 player in the local H&B market, after GS Retail closed all Lalavla stores in August.