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Kurly Posts First-Ever Monthly Profit After 9 Years in Business

Source: Kurly

Seoul, South Korea - Kurly posted its first-ever monthly profit in December 2023, marking a milestone for the company founded in 2015. 

Kurly achieved positive EBITDA(earnings before interest, taxes, depreciation, and amortization) of approximately KRW 10 billion (US$7.5 million) in December 2023.

Kurly has invested heavily in expanding logistics and fulfillment capabilities, including opening new distribution centers in Changwon and Pyeongtaek. 

These investments are now paying off with significant fulfillment and delivery cost reductions. 

Increased delivery concentration and the use of Kurly Purple Boxes, a reusable packaging solution, helped lower last-mile delivery costs and reduce the use of paper packaging.

At the same time, Kurly focused on improving efficiency in other areas, such as marketing and technology expenses. 

These efforts, combined with strong gross profit growth in Kurly's core grocery e-commerce business and newer initiatives such as its paid membership program, beauty offerings, and fulfillment services, drove the company to profitability in December.

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