The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Since its launch in 2010, the Seoul-headquartered firm has been forthright about its plans to list on the NASDAQ. This goal could be realised within the first half of 2021, the Korea Times reported.
On Coupang, South Koreans can buy everything from Nike sneakers to groceries to iPhones. As the market’s top e-commerce players, the firm saw sales soar over the pandemic. By April 2020, it held a 24.6 percent share of the local e-commerce market — an 18.1 percent uptick year-on-year — according to market research firm Nielson Korea.
Industry sources revealed that after Coupang passed a preliminary review in January, its underwriter Goldman Sachs is conducting presentations to potential investors in South Korea and abroad. If things go according to plan, sources expect that the firm’s listing timeline will be determined in March; its parent company, Coupang LLC, will be the subject of the IPO and is valued at around $30 billion.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.