ABLY, a Korean fashion platform startup, reported that its transaction volume and revenue grew 3.6 times over the past three years, achieving record-high performance last year. Its flagship service, “ABLY,” maintained profitability for the second consecutive year, becoming the first women’s fashion platform to surpass an annual transaction volume of USD 1.43 billion (KRW 2 trillion).

ABLY disclosed in its 2024 audit report that last year’s revenue reached USD 238.79 million (KRW 334.3 billion), up approximately 30% from the previous year. This marks a 3.6-fold (258%) increase from USD 66.79 million (KRW 93.5 billion) in 2021 and nearly double (87%) the USD 127.50 million (KRW 178.5 billion) recorded in 2022.

Success extended beyond fashion into beauty, food, and lifestyle categories. “Service revenue,” including “ABLY Sellers” (an open market format), rose 42% to USD 135.07 million (KRW 189.1 billion) from USD 95.14 million (KRW 133.2 billion) the prior year. “Product revenue,” encompassing the ABLY Fulfillment Solution “ABLY Partners,” grew by about 15% to USD 103.64 million (KRW 145.1 billion) from USD 90.21 million (KRW 126.3 billion), contributing significantly to overall performance.

The company boosted its transaction volume from USD 500 million (KRW 700 billion) in 2021 to USD 1.79 billion (KRW 2.5 trillion) in 2024, a 3.6-fold increase in three years. Notably, “ABLY” alone hit USD 1.43 billion (KRW 2 trillion), a 30%+ rise from the previous year, making it the first women’s fashion platform to join the “USD 1.43 billion (KRW 2 trillion) club.”

This achievement stands out amid a persistent economic downturn, with ABLY securing over 10 million users of all genders and expanding globally, driving robust top-line growth (transaction volume and revenue). “ABLY” boasts 9.4 million monthly active users (MAU), holding the top spot in vertical commerce for five years since 2021 and ranking second among combined general and specialty platforms.

New business ventures also saw steep growth. The men’s fashion app “4910,” launched in late 2023, recorded a 560% transaction volume increase in Q4 compared to Q1, with 1.7 million monthly users, ranking it second among men’s fashion apps. The Japanese shopping app “Amood” introduced a “one-stop global expansion” service for Korean sellers, leading K-style adoption. Its transaction volume surged 300% in the second half of last year, with cumulative downloads in Japan exceeding 5.6 million.

After achieving its first company-wide annual operating profit in 2023, ABLY sustained “ABLY’s” strong profitability for two years. It reinvested over USD 7.14 million (KRW 10 billion) of “ABLY’s” operating profit into new ventures like “4910,” fintech, and “Amood” for global expansion. To celebrate its first profit since founding, the company distributed its entire 2023 operating profit of USD 2.36 million (KRW 3.3 billion) as company-wide incentives, resulting in a company-wide operating loss of about USD 11 million (KRW 15.4 billion).

Moving forward, ABLY aims to solidify its position as the unrivaled leader in women’s fashion platforms while aggressively expanding new ventures like “4910,” “Amood,” and fintech. These new sectors are growing faster than “ABLY” itself, and the company plans to enhance competitiveness through mid-to-long-term investment.

Seok-hoon Kang, CEO of ABLY, said, “Without resting on ABLY’s unmatched success in women’s style commerce, we’re expanding into men’s and global markets, achieving ‘limitless growth.’ This year, we’ll accelerate portfolio expansion with strong AI technology, vast high-quality preference data, and an expert team.”