Seoul, South Korea - Kakao Style, the South Korean fashion and lifestyle platform, announced record revenue growth of 62% year-on-year to KRW 165 billion ($121.9 million) in 2023.
Despite challenging economic conditions, the company has consistently achieved double-digit growth in recent years.
The company's flagship service, Zigzag, has successfully optimized its cost structure, resulting in an annual operating profit for the first time since 2019.
However, Kakao Style reported an overall operating loss of KRW 19.8 billion ($14.6 million) due to investments in new businesses such as Posty, which targets the senior market.
Kakao Style attributes its improved performance to data-driven marketing optimization, innovative delivery services, and successful category expansion.
The company focuses on future growth through technology investments and new business ventures in 2024.
