Legend Who Turned 40-Store Olive Young into a "KRW 1 Trillion Giant"... Returns to Shinsegae After 25 Years as a Rescuer

Retail Expert Who Grew Olive Young from 40 to 1,100 Stores
To Lead Shinsegae Casa and Shinsegae International's Cosmetics Business
Tasked with Strengthening Brand Competitiveness

Heo Minho, the former senior vice chairman of Cosmax BTI who led the growth of CJ Olive Young, a powerhouse in South Korea's health and beauty (H&B) market, is joining Shinsegae Group. Having built his career at Shinsegae Department Store and Shinsegae International, he is returning to his former group after about 25 years to take the helm of a company. Shinsegae Group is tasking him with both its furniture and home goods business and its cosmetics business as it seeks new growth drivers.

Heo Minho, CEO of Shinsegae Casa Co., Ltd. and CEO of the Cosmetics Division at Shinsegae International. Courtesy of Shinsegae Group.

According to Shinsegae Group on October 23, Heo has been nominated to become CEO of Shinsegae Casa through the 2027 regular executive reshuffle. He will also serve concurrently as head of the Cosmetics Division at Shinsegae International. Shinsegae International has decided to separate its existing fashion and cosmetics businesses and introduce separate professional management systems for each.

From 40 to 1,100 Stores... The Retail Expert Behind the "Olive Young Success Story"

Born in 1964, Heo joined Samsung Group in 1989 and went on to work in the merchandising division of Shinsegae Department Store and the overseas merchandising team at Shinsegae International. He later handled sales and merchandising at Dongwha Duty Free and was appointed CEO of CJ Olive Young in 2008.

Heo made a name for himself in the retail industry when he took the helm of Olive Young. At the time, South Korea's H&B market was still in its early stages, and Olive Young was a small business with only about 40 stores nationwide.

Heo pursued an aggressive expansion strategy, differentiating Olive Young's product selection from that of traditional cosmetics specialty stores. He expanded the presence of exclusive international brands and strengthened the company's private brands (PBs), while also broadening its product range by identifying competitive small and midsize cosmetics brands. He also expanded the store network in major commercial districts, increasing the number of touchpoints with consumers.

The results were reflected in the numbers. Olive Young, which had about 40 stores when Heo took office, surpassed 1,000 in 2017 and had more than 1,100 by 2018, around the time he stepped down. Revenue also grew from about KRW 580 billion in 2014 to KRW 1.127 trillion in 2016, ushering in the era of KRW 1 trillion in annual sales.

He is particularly credited with establishing a new retail model that introduced a wide range of small and independent brands to consumers in a domestic beauty market previously dominated by large conglomerates' cosmetics brands. This is why Heo is seen as having laid the groundwork for Olive Young's emergence as a key distribution channel for K-beauty brands.

In 2018, Heo moved to CJ ENM as head of its commerce division, where he led initiatives including the launch of CJ OnStyle, which combined TV home shopping with online shopping. After leaving CJ ENM in 2022, he joined Cosmax Group, a cosmetics original design manufacturer (ODM), in March 2025. He served as vice chairman and CEO of its holding company, Cosmax BTI, and resigned in September 2026 after being promoted to senior vice chairman.

At the Helm of Shinsegae Casa and Cosmetics... A Test of His Brand-Building Skills

Shinsegae Group expects Heo to draw on his experience in product planning and brand development to expand its businesses. Shinsegae Casa operates primarily through its furniture brand Casa Mia and lifestyle brand JAJU.

Shinsegae Casa posted revenue of KRW 247 billion and an operating loss of KRW 5 billion in 2025, returning to the red. In the first half of 2026, it returned to profitability with revenue of KRW 230.5 billion and operating profit of KRW 3.7 billion, helped by the integration of the JAJU business. However, it still faces the challenge of demonstrating tangible growth from combining its existing furniture business with its home goods business.

Heo's role in the cosmetics business is also drawing attention. Shinsegae International operates international brands including Diptyque and Byredo, as well as its own brands, including AMUSE, VIDIVICI, YUNJAC and POIRE.

With the K-beauty market growing globally, a key challenge is to strengthen the international competitiveness of its own brands and secure profitability. There is keen interest in whether Heo's experience identifying promising brands at Olive Young and expanding consumer access to them will also yield results at Shinsegae International.

Shinsegae Group said, "As CEO of CJ Olive Young for 10 years, Heo played a major role in increasing the number of stores and boosting sales. He is a business expert," adding, "He will pursue a full-scale expansion of the Casa Mia and JAJU businesses." Heo will also serve concurrently as head of the Cosmetics Division at Shinsegae International and lead its cosmetics business.

This content was produced with the assistance of AI translation services.