In the competitive market of online fashion shopping, Korean startup ABLY Corporation is registering record growth and is becoming the ‘must-have’ app amongst the youth. The startup-operated style commerce platform ABLY just recorded 5.1 million monthly active users in August 2021. The app is especially a favorite amongst teens and those in their 20s and 30s.
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Innovation & expansion in products & categories propel growth
The ABLY app, launched in 2018, had achieved number one ranking amongst users in 2020. ABLY had reached 4 million users in March and is showing solid growth, surpassing 5 million in just five months, which is more than 1.5 times higher than the industry average. A survey of Android and Apple (iOS) smartphone users over the age of 10 in Korea by app/retail analysis service Wiseapp/Wise Retail showcased that ABLY’s monthly user count (MAU) stood at 5.1 million last month.
The fashion app has been innovating and expanding its products and categories to increase user influx. The app has expanded its offerings from fashion to home decoration, handmade goods, and cosmetics. The cumulative number of downloads for the ABLY app has exceeded 23,000, 4 to 5 times higher than the industry average. ABLY’s ‘AI Personalized Recommendation Service’, which analyzes users’ product wish’ and ‘purchase history’ to connect them to various products based on their taste, increases the app’s popularity.
The startup wants global success in future
In the three years since its inception, the total number of downloads for the ABLY app has surpassed 20 million, with the total transaction volume topping 600 billion won. The company plans for a global launch, alongside enhancing its AI preference recommendation system and fulfillment service.
The startup had raised $55.7 million in a Series B round in June 2021, bringing its total Series B funding to 99 billion won. The round’s investors included SV Investment, Premiere Partners, Intervest, STIC Ventures, Smilegate Investment, Capstone Partners, and L&S Venture Capital. So far, the company has raised a total of 106 billion won, including the 7 billion won Series A round in 2019.
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