April 25, 2024

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[THE INVESTOR] Korean online fashion stores saw their Japanese sales more than triple over the past three years, according to platform operator cafe24 on March 28.

Their combined sales reached 40.2 billion won (US$37.70 million) last year, which compared to 25.7 billion won in 2016. The figure made up 44 percent of the nation’s total online sales of fashion products in Japan worth 90.5 billion won last year. 

Cafe24 CEO and co-founder Lee Jae-suk. Park Hyun-koo/The Investor

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“As the so-called K-fashion is getting popular in Japan, the market potential for Korean online shopping malls is also becoming huge,” said cafe24 CEO and co-founder Lee Jae-suk. “We will continue upgrading our platform to meet the local demands and support our client’s growth there.”

Cafe24, the nation’s leading e-commerce platform provider, offers its platform to some 1.5 million online merchants here. More recently, the KOSDAQ-listed firm is making a big push for global expansion, setting Japan as the strategic base.

The firm also offers localized support like translation, advertising and logistics based on its partnerships with local retailers and e-commerce firms like Rakuten, SoftBank Payment, Sagawa and Yamato.

By Lee Ji-yoon (jylee@heraldcorp.com)