Curly Surpasses 2 Trillion Won in Sales for the First Time Ever... 30% Increase YoY

Achieving 2.6 Trillion KRW in Transaction Volume
Logistics Centers Scheduled to Open in Changwon and Pyeongtaek

Kurly surpassed 2 trillion KRW in sales for the first time in its history last year.

On the 31st, Kurly announced through its audit report that it recorded consolidated sales of 2.0372 trillion KRW last year. This represents a 30.5% increase compared to the previous year's sales (1.5614 trillion KRW). The transaction amount rose by 32% to 2.6 trillion KRW.

Curly CI [Photo by Curly].

Kurly cited continuous growth in new subscribers, high purchase conversion rates, and an increase in shopping cart size as key growth factors. In fact, the average shopping cart value per purchase for Kurly customers exceeded 60,000 KRW, and the cumulative number of members reached 12 million by the end of last year.

Contribution profit, which is sales revenue minus variable costs, grew more than threefold compared to the previous year, achieving four consecutive years of profitability since 2019. The contribution margin recorded the highest figure of the year in the fourth quarter, and adjusted EBITDA also showed a clear improvement trend.

Cash and cash equivalents stood at 195.6 billion KRW at the end of last year, an increase of 47.3 billion KRW compared to the previous year. Operating loss was 233.5 billion KRW, slightly higher than the same period last year. However, the loss ratio relative to sales decreased by 2.5 percentage points to 11.5%, down from 13.9% the previous year. This reflects significant improvement in profitability despite ongoing investments in technology and logistics.

In November last year, Kurly laid a new foundation for growth by launching Beauty Kurly. The transaction amount in the beauty category more than doubled compared to the previous year. The average selling price (ASP) of Beauty Kurly was three times higher than that of Market Kurly, and the average order amount per purchaser (ARPU) was three times higher than that of non-users of Beauty Kurly.

This year, Kurly plans to continue investing in logistics infrastructure and technology personnel to improve long-term productivity and increase sales. By opening new logistics centers in Changwon and Pyeongtaek in April and May respectively, the Saetbyeol delivery areas and orderable times will be significantly expanded. This is expected to improve profitability by increasing sales and reducing delivery costs.

Kim Jong-hoon, Kurly’s Chief Financial Officer (CFO), said, “Through the successful launch of Beauty Kurly and efficient cost management, we were able to maintain steady growth last year while achieving meaningful profitability improvements. This year, we will further solidify our growth by leveraging a more stable logistics system, Kurly’s unique product management, and our data and technology competitiveness.”