A new distribution method called “global funding” is attracting more and more attention in South Korea.
Wadiz introduces overseas-verified products to South Korea in this way.
As a result, the platform meets the increasing demand for new and unique products in the country.
It is particularly successful with high-end brands that are not easily accessible in South Korea.
Wadiz’s Global Funding provides funding for projects introducing products verified abroad into South Korea.
This includes a wide range of beauty, food, technology, and fashion products.
The platform targets consumers willing to buy foreign brands, supporters looking for newer and unique products, and brands looking to meet more diverse fans.
This expands opportunities for manufacturers to challenge the global market.
The response to the brands introduced through the funding has been positive.
Recently, the first wine funder in South Korea, Valduero, a premium Spanish wine house, sold out within 5 minutes of opening, and all inventory was gone within an hour.
French premium chocolate La Maison du Chocolat, launched in limited quantities exclusively in South Korea last December, sold out within 20 minutes.
Even high-end brands not readily available in South Korea are finding success through the platform.
Audio company McIntosh, representing the United States since 1949, attracted nearly 120 people and raised about KRW 200 million in financing, even though the product cost nearly KRW 2 million.
Chopard, the jewelry brand that officially sponsors the Cannes Film Festival, was the first to sell out within 10 minutes of funding with its Rose de Caroline line. This line is the most expensive and only available in South Korea in an edition of 5 pieces.
Major global brands rely on funding to convey their unique brand story and engage new customers rather than focusing solely on volume-based sales.
Park Sang-hyuk, director of Wadiz’s global sourcing team, said the platform plans to select unique items such as premium wine, designer clothing, and vintage collections with professional partners for each category.
The goal is to show trends that can hit the origins worldwide.
On the other hand, global funding is different from general funding because it can introduce products launched for the first time in South Korea and branded products sold abroad, regardless of domestic and foreign brands.
These products can be introduced as exclusive sales in Wadiz, unique compositions only for supporters, limited editions, etc.
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