Jaahn Group Surpasses 40 Billion KRW in Cumulative Sales Driven by Untact Consumption

[Asia Economy Reporter Jang Hyowon] As the consumption paradigm rapidly shifts to 'untact' due to the novel coronavirus infection (COVID-19), the overseas luxury business of Jaan Group is also experiencing a surge in transaction volume, and this year is expected to achieve record-high performance.

Jaan Group, an affiliate of Jaan, which operates the global luxury fashion & beauty platform CELECON, announced on the 29th that its cumulative sales until March increased by 180% compared to the same period last year, reaching approximately 40 billion KRW.

As the high-priced luxury purchase pattern, which was previously confirmed and purchased directly on-site, shifts online, the company explained that despite the sales slump in the distribution industry caused by COVID-19, Jaan Group's performance growth trend is expected to accelerate further.

According to recently released data from the distribution industry, offline sales at domestic department stores decreased by up to 70% last month. In contrast, the proportion of online spending in total shopping exceeded 60% for the first time. With the prolonged intense 'social distancing,' the speed of consumption shifting from offline to online has been significantly accelerated.

In particular, unlike competitors who only possess simple distribution platforms, Jaan Group holds numerous exclusive licenses and exclusive distribution rights that enable sales and production of global luxury/premium brands. It also provides differentiated AS and CRM suitable for purchasing high-priced luxury goods, making it a preferred alternative for many consumers instead of offline purchases.

A company official stated, “Based on exclusive licenses and distribution rights, not only sales growth but also profitability is high, so Jaan Group has recorded rapid growth without a single deficit since its establishment 11 years ago.”

He added, “The non-face-to-face luxury consumption trend was already forming centered on CELECON, but with the COVID-19 situation, the online luxury purchase trend has started to accelerate rapidly, and the benefits are becoming full-fledged. Since many people are experiencing purchasing luxury goods online, CELECON should be seen as an opportunity to emerge as a major luxury purchase channel.”

This content was produced with the assistance of AI translation services.