[Public Notice+] ISEcommerce Reports 1 Billion KRW Operating Profit in Q1... "Successful Turn to Profitability"

[Asia Economy Reporter Hyunseok Yoo] ISEcommerce, a leading lifestyle culture brand company based on e-commerce, announced on the 18th that it succeeded in turning a profit in the first quarter despite the impact of the novel coronavirus disease (COVID-19). Sales increased by 800 million KRW compared to the same period last year. Operating profit and net income recorded 120 million KRW and 76 million KRW, respectively.

ISEcommerce has steadily reduced its operating losses quarter by quarter from the first quarter to the fourth quarter of 2019. Since last year, the company has scaled down its purchasing agency business, which had deteriorated profitability, while strengthening direct purchasing and exclusive brand sales, and expanded the MOST service, a sales agency business targeting emerging brands gaining attention overseas.

A company official stated, “Although uncertainty increased in the first quarter due to the spread of COVID-19, from the second quarter, consumers’ desire for compensatory consumption will strengthen, leading to gradual sales growth. Despite the fashion industry facing difficulties due to COVID-19, we will not only overcome this to turn a profit in the first quarter but also strive to maintain profitability throughout 2020 and ensure the company’s continuous growth.”

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