This meaning refers to the commercial brand known for facial creams, cleansers, serums, and anti-aging products.
She bought a moisturizer from Olay.
Olay sells skincare products in many countries.
This broader use refers collectively to creams, lotions, cleansers, and other products marketed under the Olay name.
The shelf contained several types of Olay.
She added Olay to her daily skincare routine.