Abley Secures 100 Billion Investment from Alibaba... Valued at 3 Trillion Won 'Unicorn'

Global Round 추진 of 200 Billion KRW Scale Investment

Able Corporation, which operates the fashion platform Abley, announced on the 2nd that it has secured a new investment of approximately 100 billion KRW from Alibaba Group through a minority equity investment.

Through this investment, Abley was recognized with a corporate valuation of 3 trillion KRW, achieving unicorn status. This marks an increase of about 3.5 times compared to the previous pre-Series C investment raised in January 2022, two years ago. A unicorn refers to a company valued at over 1 trillion KRW. This milestone was reached six years after the service was first launched in March 2018.

Abley stated that it received favorable evaluations for securing the largest number of sellers in the industry. It also explained that it was well-regarded for applying its self-developed ‘AI personalized recommendation algorithm’ to commerce. Able Corporation currently operates the women’s fashion platform Abley, the men’s fashion platform 4910, and the Japanese fashion platform 'Amudeu'. The company plans to use the investment funds to enhance product competitiveness, recommendation technology, UI/UX, and actively invest in new businesses such as Amudeu, 4910, and fintech.

Starting with this investment, Abley plans to continue discussions with Silicon Valley in the United States and overseas sovereign wealth funds to attract a total of 200 billion KRW in global consortium investments. Kang Seok-hoon, CEO of Abley, said, “Despite the frozen investment sentiment, achieving an increase in corporate value and unicorn status has become an opportunity to once again recognize Abley’s business performance and growth potential.” He added, “Based on our unique technology, big data, and the successful formula we have built so far, we will further solidify our position as Korea’s leading recommendation-based style commerce and continue to expand our competitiveness in the global market.”