Ballan Surpasses 200 Billion KRW in Q4 2021 Transactions

[Asia Economy Reporter Seungjin Lee] Luxury platform Ballan announced on the 6th that it achieved a transaction amount of 200 billion KRW in the fourth quarter of 2021, a 766% increase compared to the same period last year.

Ballan recorded an annual transaction amount of 315 billion KRW by breaking its highest transaction record for three consecutive months following October last year. More than 60% of this amount was from the fourth quarter.

The monthly active users (MAU) and application (app) downloads reached 6.3 million and 2.3 million respectively, increasing by 256% and 835% compared to the previous year.

Ballan's strategy this year is to establish itself as a global luxury platform by expanding categories such as secondhand, beauty, watches, and jewelry, and building a domestic and international fulfillment (integrated logistics management) system that breaks down the boundaries between online and offline.

In particular, it plans to improve customer experience through BNPL (Buy Now Pay Later) services and PLCC (Private Label Credit Card) partnerships for high-involvement customers. Additionally, it aims to enhance B2B competitiveness by providing integrated logistics services to domestic retailers and planning advance payment services, thereby innovating the entire value chain of the domestic luxury distribution market.

Choi Hyung-rok, CEO of Ballan, said, "Last year, Ballan achieved the most overwhelming growth not only in the luxury category but across the entire fashion platform," adding, "This year, we will build an omni-channel platform that provides the optimal customer experience with a goal of 1 trillion KRW in annual transaction volume and begin full-scale preparations to enter the global top 3."

Meanwhile, to celebrate surpassing 200 billion KRW in fourth-quarter transactions, Ballan is offering popular brand items at discounts of up to 83%. An event is also underway where the first 200 customers every day at 8 PM receive a 20% discount coupon.

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