Abley Reports Operating Profit in Q1... "Growth in All Sectors Before Economic Recession"

Transaction Volume and Sales Grow 20% Year-on-Year in Q1
Ablely, 4910, and Amood Show Growth Across All Sectors
"Annual Company-Wide Profit Expected"

Able Corporation announced on the 10th that it achieved an operating profit surplus in the first quarter of this year. This was due to growth in transaction volume and sales across all sectors, including the women's fashion platform 'Ablely', the men's fashion platform 'Saguilgong (4910)', and the Japanese fashion platform 'Amood'.

According to Able Corporation, the company's transaction volume and sales in the first quarter of this year increased by about 20% compared to the same period last year. This is an encouraging achievement considering the consumption slump caused by the economic recession and the off-season in the fashion industry.

In the first week of April (1st to 7th), entering the second quarter, demand for spring clothing shopping concentrated, continuing the upward trend in performance. The company expects sustained growth in both scale and substance through the second half of the year, including the peak season.

In particular, the steep growth of the men's fashion platform 4910 stood out. The sales of 4910, which was launched in the second half of 2023, increased tenfold in the first quarter of this year compared to the same period last year, and the transaction volume increased sixfold. During the same period, Amood's transaction volume increased by about 90%, doubling its presence in the Japanese market.

Absorbing domestic online shopping demand, the combined monthly active users (MAU) for both men and women reached 11 million. As of last month, 4910's MAU recorded 1.7 million. After surpassing 1 million users seven months after its official launch in March last year, it increased by about 70% in five months. According to app and retail analysis services WiseApp and Retail, Ablely's user count last month was 9.8 million, further solidifying its position as the number one vertical commerce platform in terms of total users.

Able Corporation analyzed that the balanced growth of its flagship service Ablely and new businesses 4910 and Amood was the driving force. The profits generated through Ablely, which surpassed 2 trillion won in annual transaction volume last year and achieved operating profit for two consecutive years, were reinvested in new businesses, resulting in the successful establishment of new services such as 4910 and Amood, realizing 'economies of scale.' The company expects that achieving an annual operating profit on a company-wide basis ahead of the fashion industry's peak season in the second half will be smooth.

Kang Seok-hoon, CEO of Able Corporation, said, "As a result of applying Ablely's successful formula, which firmly secured the number one position in the women's fashion platform industry in terms of transaction volume, sales, and user numbers, to 4910 and Amood, we are continuing to expand at a steeper pace than Ablely's past growth." He added, "Going forward, based on our competitiveness in big data, AI personalized recommendation technology, and seller and user pools, we will lead the growth of the domestic and international e-commerce ecosystem."

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