Curly, Last Year's Sales 2.0774 Trillion Won... Record High

Operating Loss of 143.6 Billion KRW
First Decrease Since Company Establishment
Thanks to Cost Improvement and Growth of Beautycolly

Retail tech company Kurly announced on the 29th that it recorded its highest-ever sales last year, reaching 2.0774 trillion KRW. This represents a 2% increase compared to the previous year.

Curly Pyeongtaek Logistics Center exterior view.

Operating loss improved by about 100 billion KRW to 143.6 billion KRW from last year's -233.5 billion KRW. This is the first time since its establishment that the annual loss has decreased. The operating profit margin improved by 4.5 percentage points (p) compared to the previous year.

The company explained that reducing marketing expenses, logistics costs, and fixed costs was key to the performance improvement. Kurly saved approximately 16 billion KRW through improved delivery efficiency and economies of scale. At the same time, it cut IT costs and optimized the marketing budget, saving about 22 billion KRW. The withdrawal from the Songpa logistics center also eliminated inefficient spending. The logistics centers in Changwon and Pyeongtaek, which opened last year, increased productivity and stabilized logistics.

Kurly's new business, Beauty Kurly, has established itself as a major business sector, accounting for 10% of Kurly's total gross merchandise volume (GMV). Since products sold have higher unit prices compared to food, it contributed significantly to profitability improvement.

Kurly's own membership program, Kurly Members, launched for the first time last year, is progressing smoothly. The number of subscribers increased by 200% within six months after its launch in August last year. The retention rate, a measure of membership satisfaction, was 85%.

Kim Jong-hoon, Kurly's Chief Financial Officer (CFO), said, “Despite the downturn in the distribution industry last year, we were able to achieve both sales growth and profitability improvement through new business ventures and structural cost improvements. This year, we plan to further solidify the positive earnings trend while focusing on growth.”