Ohouse Sees Sales Growth and Reduced Losses Despite Recession

Over 50% Sales Growth for Two Consecutive Years

Bucketplace announced on the 14th that 'Ohouse' recorded a high sales growth rate of 59% last year despite challenging external conditions such as the endemic and economic downturn. According to Ohouse's 2022 audit report, it disclosed sales of 186.4 billion KRW and an operating loss of 36.2 billion KRW last year. Compared to the previous year, sales increased by approximately 59% (68.8 billion KRW), and operating loss decreased by about 6% (2.3 billion KRW).

The sales growth rate was actually 4 percentage points higher than the 2021 sales growth rate (about 55%). The increase in sales was driven by a rise in purchase conversion rates based on a diverse range of lifestyle product categories. Additionally, active talent recruitment also contributed to growth. Although both the number of employees and labor costs nearly doubled, improved business efficiency led to a reduction in operating losses. Despite significant new investments made last year with the start of global operations, the deficit actually decreased when considering these factors.

The number of customers who spent more than 5 million KRW annually at Ohouse increased by over 60% last year. This indicates that customers are opening their wallets to buy more and higher-priced products at Ohouse. Ji Younghwan, CFO of Ohouse, said, "Despite the difficult external environment last year, Ohouse has been undertaking bigger challenges, expanding beyond interior design to lifestyle, and beyond Korea to global markets." He added, "This year as well, we will catch two rabbits?growth and profit improvement?through efficient and wise investments."

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