Kurly Posts First Consolidated Operating Profit in a Decade

Kurly, a leading domestic retail tech company celebrating its 10th anniversary, has finally succeeded in turning a profit in operating income on a consolidated basis, setting a new milestone in the e-commerce market. In the first quarter of 2025, Kurly recorded sales of 580.7 billion won, growing 8% compared to the same period last year, and notably achieved its historic first profit with an operating income of 1.761 billion won. What is noteworthy is the overwhelming growth in Gross Merchandise Value (GMV). Kurly's first-quarter GMV surged by 15% year-on-year to 844.3 billion won, demonstrating a remarkable performance nearly six times the growth rate of the domestic online shopping market (2.6%) announced by Statistics Korea. This result shines even brighter amid the overall economic downturn and reduced consumer spending. This strong performance was driven by the robust growth of core businesses such as food and beauty, and successful business diversification. The food category recorded a 16% growth in GMV, while Beauty Kurly continued its solid growth, driven by strong sales of luxury, premium, and indie brands. In particular, third-party (3P) seller-shipped products recorded an explosive growth rate of 72% year-on-year, playing a decisive role in the overall increase in GMV. The expansion of fulfillment services (FBK) and logistics agency businesses also contributed to revenue diversification. Financial health is also robust. Adjusted EBITDA improved to 6.7 billion won, and 220 billion won in cash and cash equivalents were secured, solidifying a stable financial foundation. A Kurly official stated, "We achieved solid performance through balanced growth across all sectors and business diversification," adding, "From the second quarter, we plan to expand marketing and customer investments and continue growth that surpasses the market average through aggressive IMC." The industry highly evaluates Kurly's profit turnaround, which combines a customer-centric business model and continuous innovation, and anticipates Kurly's influence in the e-commerce market to grow even further in the future.