Brandy Secures New Investment of 29 Billion KRW... Total Cumulative Investment Reaches 153 Billion KRW

Investment Plans for Advancing App Commerce and Fulfillment Systems and Nurturing Online Sellers

[Asia Economy Reporter Eunmo Koo] Brandi announced on the 16th that it has attracted an investment of 29 billion KRW from five companies, including the Korea Development Bank.

This investment followed follow-up investments from existing investors such as the Korea Development Bank, Atinum Investment, Big Basin Capital, and Mirae Asset Venture Investment, with Breeze Investment participating as a new investor. With this investment, Brandi's total accumulated investment amount reached 153 billion KRW.

Brandi is implementing an apps strategy operating various vertical commerce platforms such as Brandi, Hybe, and Seoul Store. According to Brandi, the women's fashion app Brandi continues to show steady growth, while Hybe achieved 50% growth in the first half of this year compared to the same period last year, reaching a cumulative transaction amount of 300 billion KRW. The brand fashion platform Seoul Store also saw both sales and transaction amounts grow by 130% year-on-year in the first half of this year. The acquisition of Seoul Store expanded the portfolio to include brand fashion, raising expectations for future synergies, which led to the investment, the company explained.

Based on this investment, Brandi plans to advance its apps platform system operating various shopping apps and focus investment on the Fulfillment Management System (FMS) to further strengthen its technology and logistics competitiveness. Based on this, the company plans to ▲ pioneer online sales channels in the Dongdaemun market ▲ expand startup opportunities based on Dongdaemun fashion ▲ accelerate the overseas market entry of K-fashion.

Seongmin Seo, CEO of Brandi, said, “We will grow based on a specialized vertical commerce platform that meets the increasingly segmented customer needs, from women's fashion to men's fashion, Dongdaemun fashion, and brands,” adding, “We will expand our fulfillment customers and areas in the future to support online sellers and contribute to enhancing the competitiveness of K-fashion.”