Coupang’s SME partners see sales up 20% in one year

[Photo by MK DB]

The number of small- and mid-size manufacturers producing and supplying private label (PB) products of Coupang Inc. has surpassed 550 as of the end of last year, the South Korean e-commerce giant said on Sunday.

According to Coupang, the number of small businesses in cooperation with its private label subsidiary CPLB has more than tripled from about 160 at the end of 2019. It has also jumped by more than 20 percent from a year ago.

Sales of the partners also increased by about 20 percent, according to the company.

The employment figures within these cooperating SMEs are equally encouraging, with over 23,000 individuals employed as of the end of January this year, up about 3,000 jobs in just ten months.

Coupang’s strategy to partner predominantly with manufacturers located outside of Seoul has been particularly beneficial for regional economies across Korea.

With over 80 percent of its SME partners based in regions outside the capital, Coupang’s approach has been instrumental in driving economic activity and job creation in less urbanized areas.