KREAM Achieves KRW 300 Billion Sales, Posts First-Ever EBITDA Profit

Limited edition trading platform KREAM is injecting fresh vigor into the e-commerce industry by achieving its highest-ever performance in 2024. It recorded consolidated revenue of 297.6 billion won, proving its growth into a massive scale approaching 300 billion won. This result stems from its individual revenue of 177.5 billion won (a 45.3% increase year-on-year) combined with the performance of Japanese SODA, which was incorporated as a consolidated subsidiary from 2024. A particularly noteworthy achievement is the successful turnaround to a positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first time since its establishment. With domestic performance alone, it recorded an EBITDA surplus of 1.9 billion won, which holds significant meaning as it establishes a stable cash generation structure through its core business and secures long-term business sustainability. Financial soundness is also robust. It holds 55.6 billion won in cash and cash equivalents and 86.8 billion won in current assets (a 20.0% increase year-on-year), and its current ratio, excluding redeemable convertible preferred shares (RCPS), remains stable at 132%. Operating loss also significantly improved, decreasing by approximately 78% year-on-year to 8.9 billion won, indicating that profitability indicators are turning in a positive direction. Behind this success are meticulous business expansion and efficient operational strategies. KREAM has gone beyond limited edition sneakers, boldly expanding categories to include street fashion, luxury goods, tech devices, and even used luxury boutiques, thereby increasing transaction volume by over 30% compared to the previous year. Furthermore, by recruiting professional sellers, including online businesses, it created an environment where buyers can immediately purchase desired products, thereby further enhancing the platform's value. Efforts for cost efficiency also shone. By reducing shipping unit costs and adjusting fragmented leased spaces, it minimized increases in shipping and rental fees, and contributed to profitability improvement by tightening its belt in various areas, such as reducing the proportion of advertising expenses relative to sales. KREAM CEO Kim Chang-wook emphasized that even amidst a challenging distribution environment, efforts in product diversification, influx of professional sellers, and cost improvement have borne fruit, and expressed his aspiration to continue evolving into a platform that satisfies both sellers and buyers by responding swiftly to market changes. KREAM is now beyond a simple trading platform, simultaneously achieving growth and profitability, and writing a new success equation for the distribution industry.