Digital Trade Platform 'YesBee' Sees 2.5x Increase in Global Sales Year-on-Year

YESBEE, a digital trade platform operated by IONCO Korea Co., Ltd., announced that while sales in China slightly slowed last year due to COVID-19 related restrictions, global sales in other countries increased 2.5 times compared to the previous year.

Thanks to the favorable influence of K-pop and K-dramas in the global market, demand from K-brand buyers surged significantly in countries such as Japan, the United States, Australia, Vietnam, Singapore, and India. In particular, sales of color cosmetics like Forencos and Lilybyred skyrocketed in Japan, while lifestyle products such as Modamoda shampoo led sales growth in Australia, and basic cosmetics drove revenue increases in the United States and India.

There are approximately 300 K-brands registered on YESBEE, mainly consisting of ‘Made in Korea’ cosmetics and health functional foods favored by overseas MZ generation consumers. Currently, the total number of overseas buyers and suppliers registered on YESBEE has surpassed 1,900 companies, and the number of member countries has expanded from 70 last year to a total of 103.

Additionally, YESBEE’s domestic and international integrated fulfillment service, the YESBEE Hive Center, which opened last year, has aggressively expanded its operations and investments, securing 20 brand clients within one year. This has resulted in a 50% increase in logistics sales compared to the previous year, and it is expected to reach monthly break-even point (BEP) within the first quarter of this year.

The Hive Center’s clients are characterized as K-beauty cosmetic brands with annual sales exceeding 5 billion KRW, well-known domestically but seeking to expand into overseas B2C and B2B markets. The Hive Center enables global shipping from a single logistics center and offers real-time integrated inventory management through its proprietary Hive system, which also supports automatic order synchronization with platforms like Sabangnet and MakeShop. This year, the focus will be on enhancing customer satisfaction for both existing and new clients through synergies between logistics and distribution services, aiming to establish long-term partnerships. Next year, the fulfillment service is planned to be expanded more than twofold.

A YESBEE representative stated, “Although sales in China slightly declined last year due to the zero-COVID policy, this year, with the shift to a with-COVID policy, demand for Korean health functional foods such as vitamins has tripled compared to the previous year, showing signs of sales recovery. We also expect a surge in online luxury goods purchases driven by MZ generation’s revenge consumption, and plan to expand related distribution.” The representative added, “If the recovery in Chinese sales and the growth trend in global sales continue, we expect to achieve operating profit in the second half of the year and surpass annual sales of 50 billion KRW.”