Pop-Up Store Giant Sweetspot Accelerates IPO

Sweetspot, a leader in the pop-up store and commercial real estate market, has selected KB Securities as its lead underwriter for its IPO and has officially commenced preparations for its KOSDAQ listing. Established in 2015, Sweetspot has expanded its business with two main pillars: a 'total solution' for planning and operating brand-customized pop-up stores, and commercial real estate leasing agency (LM) and asset management (PM) services based on commercial district and customer data. Particularly in the first half of this year, it recorded more than double the sales growth compared to the same period last year, achieved a successful turnaround to profitability, proving its robust growth trajectory. It has attracted a cumulative 18 billion won in investment from Altos Ventures, Korea Development Bank, and others, demonstrating its recognized potential. To date, Sweetspot has successfully operated over 8,200 pop-up stores, collaborating with leading domestic and international brands. It recently launched 'Shop@Episode', a pop-up store service exclusively for corporate headquarters, which has received enthusiastic responses from customers, and is planning to expand additional stores. Its pop-up information platform 'Popga' and exclusive pop-up space 'Sweetspot Stage' are also showing continuous growth, expanding their influence in the market. In the commercial real estate sector, it has demonstrated its expertise by achieving a high 100% occupancy rate in major facilities such as Gangdong IPARK The River and Yeouido Finance Tower. Sweetspot is leading the market by advancing its unique commercial district analysis solutions based on spatial and consumer behavior data. Funds secured through the listing will be primarily invested in expanding AI and technology infrastructure and advancing data-driven operating systems. Kim Jeong-soo, CEO of Sweetspot, stated his ambition, saying, "Over the past 10 years, we have led changes in offline retail and created new consumer experiences. This listing will serve as an opportunity to accelerate the growth of our core businesses, including 'Popga', and further solidify our leading position in the market."