Abley Overcomes 70 Billion Won Deficit, Achieves First Annual Profit in 5 Years Since Establishment

Record Highs in Both Sales and Transaction Volume
First Monthly Break-Even Point Achieved Last March

Able Corporation, which operates the fashion platform Abley, announced on the 16th that it has succeeded in turning its annual operating profit positive for the first time in its history. Abley set new records for the highest transaction volume and sales last year.

Able Corporation, which operates the style commerce platform Abley, announced on the 16th that it has achieved its first-ever annual operating profit surplus. Women's fashion platform Abley, men's fashion app 4910 (Sagu-il-gong), and Japanese shopping app Amud. (From left) [Image provided by Able Corporation]

Abley emphasized that it achieved "growth-type profitability" within five years of its founding. Abley's operating losses had been increasing, with 69.4 billion KRW in 2021 and 74.4 billion KRW in 2022, but starting from reaching the monthly break-even point (BEP) in March last year, it recorded the highest monthly operating profit each month.

Abley also achieved profitability on an annual basis last year. After recording the highest performance in the first half of the year, sales and transaction volume in the second half grew by about 40% each, setting new records again.

In addition to Abley, the company expanded its business to other platforms, achieving growth in various sectors. Able Corporation operates the new men's fashion app "4910" and the Japanese shopping app "Amood" together. Last year, the transaction volume in Abley's beauty category doubled compared to the same period the previous year, and the transaction volume of the Amood service, launched last year, grew about fourfold in the fourth quarter compared to the previous quarter.

Abley explained that the significance of achieving annual profitability lies in it being growth-type profitability rather than reduction-type profitability. Generally, during economic recessions, reduction-type profitability, which focuses on short-term numbers through restructuring or cost-cutting rather than external growth, tends to be prominent. However, Abley recorded growth-type profitability with balanced growth in sales and transaction volume.

Abley cited its self-developed artificial intelligence (AI) recommendation algorithm as the key growth driver behind this annual profit turnaround. The AI recommendation technology, based on the industry's largest preference data, connects customers with products that match their tastes. Abley explained that as seller sales increase through connections with customers, new users are attracted, creating a virtuous cycle that leads to further sales growth. The company also stated that work efficiency based on technological capabilities is a core element of growth-type profitability.

Kang Seok-hoon, CEO of Abley, said, "This achievement is the result of joint growth between Abley and its merchants based on 'seller-win management,' which we have adhered to since the early days of the startup." He added, "This year, we plan to aggressively invest in growth areas such as marketing and new businesses based on a stable financial structure."

CEO Kang also said, "Through full-scale global market expansion in North America and Asia, we will advance beyond the domestic market to become a top commerce platform overseas."