Sales of 259.5 Billion KRW · Operating Profit of 3.3 Billion KRW
Non-Fashion Category Growth
CEO Kang Seok-hoon "Expanding Global and New Business Investments"
Able Corporation, which operates the fashion platform Abley, announced on the 2nd that it recorded its first operating profit and net profit since the launch of Abley. At the same time, Abley achieved its highest sales for three consecutive years.
According to last year's audit report, Abley disclosed on the 2nd that it recorded sales of 259.5 billion KRW and an operating profit of 3.3 billion KRW. The 2023 sales figure represents a 45% increase compared to the previous year, marking a 390% (4.9 times) growth over three years. The annual operating profit turned positive for the first time, overcoming the operating loss of 74.4 billion KRW recorded the previous year.
Abley’s recent performance includes ▲2020 sales of 52.6 billion KRW with an operating loss of 38.4 billion KRW ▲2021 sales of 93.5 billion KRW with an operating loss of 69.5 billion KRW ▲2022 sales of 178.5 billion KRW with an operating loss of 74.4 billion KRW. Although the scale grew and the deficit widened, Abley emphasized that it achieved solid growth in scale last year.
Abley explained that non-fashion categories such as beauty, digital, life, and food showed growth last year. Service sales from 'Abley Sellers,' an open market format, reached 133.2 billion KRW, nearly doubling from 66.8 billion KRW the previous year. This was due to a surge in newly entered markets and transaction volume through category expansion.
Product sales have recorded over 100 billion KRW annually, with 126.3 billion KRW last year, a 13% increase from 111.6 billion KRW the previous year. The fulfillment solution 'Abley Partners' led the growth in performance.
Abley’s advertising expenses last year were 22.9 billion KRW, successfully streamlined compared to 43.7 billion KRW the previous year. This achievement was attributed to an increase in return on ad spend (ROAS) based on customer big data analysis. Abley’s ROAS increased to 1133% last year, indicating that sales grew while costs were optimized.
Abley cited the increased number of users and app usage as the driving forces behind its growth. Abley’s cumulative membership surpassed 12 million, and its monthly active users (MAU) exceeded 8 million. Notably, in February, the MAU reached 8.12 million, ranking second among domestic shopping apps after Coupang.
Abley plans to accelerate investments in new businesses, including global expansion. Abley will evolve into a 'style portal' by enhancing user services such as webtoons, web novels, and communities. At the same time, it will intensify its approach to the male market through the male fashion platform '4910' (Saguilong) and improve payment convenience by entering fintech. Within this year, it plans to expand into Asia, North America, and other regions to strengthen its global business competitiveness.
Kang Seok-hoon, CEO of Abley, said, "Achieving profitability while maintaining solid growth through successful category expansion in beauty, digital, and life is even more meaningful. We will continue to invest in new businesses such as global and male-targeted expansion. Starting with genuine structural improvement, we will focus on global expansion and new business investments this year, strengthening our vision of a 'style portal' that expands beyond Korea’s leading style commerce to various content and communities."
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