MustIt, Kicks Off Rebound with Liquidity Boost

Luxury platform Mustit designated 2024 as the inaugural year for 'strengthening internal foundations,' laying a solid groundwork through a conservative financial strategy and liquidity-focused management. Throughout the year, Mustit faced a challenging period marked by one-time losses from inventory clearance and lease adjustments, as well as a temporary increase in fixed cost burden due to strategic investments aimed at securing competitiveness in the first half. However, Mustit persevered, swiftly improving its corporate structure through company-wide restructuring. Notably, cost efficiency measures began to take effect from the second half, and in the fourth quarter, the impact of fixed cost reductions was clearly reflected in its performance, laying the foundation for a rebound. As of the end of 2024, Mustit boasted overwhelming liquidity, holding over 99% of its total assets of 11 billion won as current assets, with approximately 8.3 billion won of that being quick assets that can be immediately converted to cash. This serves as an indicator proving its flexible fund management ability, capable of responding unfalteringly to rapidly changing external environments. Its current ratio reached 270%, showcasing a stable financial structure fully capable of covering 3.3 billion won in deposits and 4.1 billion won in current liabilities. Trust with partners stems from its industry-leading settlement system. Mustit operates a system that completes settlements within 1 to 7 business days from the purchase confirmation date, and its consistent payment reliability, with not a single delay since its founding, is Mustit's core competitiveness. Its revenue structure is also robust. Profitability per platform unit is secured, maintaining stable commission and advertising revenue relative to transaction volume, and by efficiently controlling major variable costs, it is consistently generating a contribution margin. Mustit CEO Cho Yong-min emphasized, "2024 was a critical turning point focused on strengthening internal capabilities and improving our corporate structure," and stated, "Internally, we have already laid a new foundation for growth through settlement stability, liquidity-focused conservative fund management, and fixed cost efficiency." He also prioritized operational efficiency and financial transparency over immediate external expansion, and on this solid foundation, indicated that preparations for entering a full-fledged growth cycle after 2026 are progressing smoothly. Leveraging its robust financial structure, Mustit is preparing to leap towards sustainable growth.