CJ ONSTYLE, Invest 17billion won into future growth companies

PRESS | 22-03-30 18:45


CJ OnStyle (CJ ENM Commerce Department) announced on the 14th that it has invested a total of 17 billion won this year in future growth companies such as
luxury platforms, healthy foods, and retail tech.4 billion won was direct investment, and 13 billion won was indirectly invested through external corporate
venture capital (VC), including Timewise Investment, an investment company within CJ Group. CJ ONSTYLE said, “We made investments to flexibly respond to the rapidly changing market environment and preemptively secure future growth engines.”

In May, CJ OnStyle secured more than a 6% stake in ATNY, an cross-border shopping platform for luxury items. It also started a full-fledged collaboration with the introduction of ‘ATNY’ on the CJ OnStyle website and app. Unlike domestic luxury shopping malls that secure products through simple data collection (crawling method) or attracting parallel importers, ATNY has 180,000 kinds of various products through direct inventory linkage (API) with luxury boutiques abroad. CJ OnStyle plans to carry out collaborations such as the joint purchase of brands in the future

The investment in IDICTION, a startup with non-face-to-face size measurement technology, is also expected to be finalized by the end of this year. By combining the technology of IDICTION, which can measure body size with a smartphone camera, CJ ONSTYLE will provide a personalized shopping experience.

Sung Dong-hoon, head of strategic planning said, “In the rapidly changing business environment, we have made strategic investments in key categories to preemptively secure future growth engines and continue flexible growth." and We plan to expand direct investment in brands and commerce, such as beauty and beauty products."