Seoul, South Korea - Kurly, a retail technology company, has announced a notable increase in sales for its luxury beauty brand, Beauty Kurly, since its market introduction in November 2022.
The brand offers a diverse range of products from over 1,000 international and Korean beauty brands.
According to Kurly, 99.4% of the beauty products sold on the platform are sourced directly from the global brand headquarters or official sales agents.
The company indicated that luxury beauty sales increased 3.2-fold from November to December 2022 compared to the preceding period.
As indicated by Kurly, several brands demonstrated notable sales growth. Estée Lauder experienced a ninefold increase in sales, while Biotherm and Darphin exhibited a sixfold increase.
The company offers a promotional period entitled "Beautiful Week," concluding on January 16th.
During this period, discounts will be applied to a range of beauty products.
Furthermore, Kurly has postponed its planned listing on the KOSPI, citing unfavorable investor sentiment due to global economic conditions.
The company's initial valuation target was between KRW 5 trillion and 6 trillion, which was later reduced to KRW 4 trillion at the time of the listing application.
The current market valuation of Kurly is estimated to be approximately KRW 1 trillion.
