Fashion platform Ably tops $756 mn in transactions in H1

[Courtesy of Ably Corp.]

South Korea’s online fashion platform operator Ably Corp. announced on Monday that its transaction value topped 1 trillion won ($756.17 million) in the first half of 2024, with a 40 percent surge in sales from a year ago.

Both figures are record highs for the first-half period, allowing it to maintain its position as the leader among the country’s women’s fashion platforms for the second consecutive year, according to the company.

Ably also highlighted its financial stability.

It was the only fashion platform with transactions in the trillion won range to post an operating profit in 2023.

It raised 3.3 billion won in operating profit on sales of 259.5 billion won last year.

The company reported increased transaction volumes across all categories, including fashion, beauty, and lifestyle.

Its transaction value in the Soho fashion category, which is based in the Dongdaemun market, increased by 30 percent in the first half of the year, compared to a year ago, while brand fashion transaction value grew by 115 percent.

Its beauty segment also saw transactions rise over 120 percent, and food segment 160 percent during the same period.

Ably’s new men’s fashion platform 4910 also saw a 370 percent increase in transactions in the first half of the year, compared to the beta service period in the second half of 2023.

The company’s Japanese fashion app, amood, saw a 180 percent increase in transactions and a 200 percent increase in the number of customers placing orders in the first half of the year.