(File photo) South Korea’s top luxury goods e-commerce platform Balaan Co. said on Monday it has filed for corporate rehabilitation with a Seoul court as the cash-strapped startup has been hard hit by the rapidly cooling fever for upscale fashion brands in the country.Balaan is seeking to
Luxury brand shop floor in Shinsegae Department Store in Jung-gu, Seoul (Courtesy of Yonhap) Until recently, it was not unusual to see people waiting in a long line in front of foreign haute couture brands’ stores early in the morning in South Korea, but that is not an ordinary scen
(Courtesy of Coupang) Coupang Inc., South Korea’s answer to global e-commerce giant Amazon.com, ended last year with profit for the second straight year thanks to the revival of its luxury fashion platform Farfetch and a successful landing in Taiwan, offsetting a slowdown in its mainstay
Coupang Inc. and Naver Corp., South Korea's top two e-commerce players, are expected to further narrow the gap in their race for the market lead this year after both posted remarkable growth last year. According to the local securities industry on Monday, Korea’s No. 1 e-commerce platfor
Consumers walking on the street in Cheongdam-dong, an affluent neighborhood in southern Seoul South Korea’s luxury goods market, estimated at around $7.1 billion, is experiencing a surge in demand led by affluent consumers in their 40s and 50s, and several high-end global luxury brands wi
A Gugus offline store in Hannam-dong, central Seoul Gugus, South Korea’s largest online retailer of secondhand luxury goods, posted double-digit growth in revenue and transactions in the first quarter of this year after a robust 2023, bucking the spending slowdown trend seen in the high-e
Gmarket is a leading Korean e-commerce website Gmarket, a major e-commerce website based in South Korea, likely turned to profit in the fourth quarter of last year, which would mark the first time for Shinsegae Group, which acquired it from eBay two years ago, to post gains from the online shop
Coupang went public on the New York Stock Exchange in 2021 Coupang Inc., South Korea’s leading e-commerce platform, plans to acquire Farfetch Holdings, a London-based online retailer for luxury goods, in a $500 million deal aimed at bolstering its clothing business, considered its weak sp