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Largest Consumer E-commerce Public Companies in South Korea
Benchmark revenue and EBITDA valuation multiples for public comps like
Coupang, NAVER, E-MART, Hyundai Home Shopping and 09Women.
 | Coupang is South Korea’s largest e-commerce platform that sells both owned and third-party inventory. Headquartered in the US, Coupang operates e-commerce businesses mainly in South Korea and Taiwan. The company has built an integrated logistics network that covers the entirety of South Korea, with extensive fulfillment centers that ensure timely delivery, even for orders placed seconds before midnight. Outside of its bread-and-butter e-commerce business, Coupang has expanded into Rocket delivery services to third-party merchants (fulfillment and logistics by Coupang), online grocery delivery Rocket Fresh, online meal delivery (Eats), e-commerce in Taiwan, luxury e-commerce (Farfetch), and travel. | $17 | -45% | $30B | $29B | 0.8x | 19.4x | ||
| Naver has been the leading search portal in South Korea for many years. The company has also been evolving into an internet platform providing a variety of internet services, such as news, a dictionary, maps, digital comic content, social networking, e-commerce, videos, fintech services based on online payments, and Cloud services. Naver was also the incubator of Line Yahoo, the leading mobile messaging app in Japan, Taiwan, Thailand, and Indonesia, which merged with Z Holdings (Yahoo Japan), with Naver now owning 32.5% of the merged entity renamed LY. | $175 | -1% | $26B | $23B | 2.9x | 11.0x | ||
| E-MART Inc. is a hypermarket retail company in Korea. The company mainly operates its businesses through seven divisions: domestic hypermarket, tourism hotel, food, supermarket, resort, overseas hypermarket, and bakery. It operates around148 branch locations in Korea (including Emart Traders) and approximately 16 branches in China under management. In addition, by 2023, it plans to expand presence throughout the projected 200 store locations of more, while penetrating into overseas markets in Vietnam and Mongolia. | $62 | -- | $2B | $6B | 0.3x | 3.7x | ||
| Hyundai Home Shopping Network Corp is engaged in the retail domain in Korea. The company's business involves the management of online shopping malls offering a wide range of products including apparel, sportswear, accessories, consumer electronics, household appliances, and beauty products. | $51 | +34% | $572M | $209M | 0.1x | 1.0x | ||
| 09Women Co Ltd is engaged in wholesale and distribution of plus-size women's clothing through its own online shopping site. | $3 | +18% | $78M | $41M | 1.4x | 5.7x | ||
| Gradiant Corp operates in the retail domain in Korea. Its principal business comprises managing internet-based shopping sites. The company, through its website, sells a range of products including beauty products, fashion wear, household appliances, and food products. | $6 | -- | $68M | $49M | 0.0x | 2.6x | ||
| KT Millie Seojae Co Ltd is a company that provides a platform for electronic book subscription services. The company is engaged in activities such as developing, operating, and selling various content subscription services based on book IPs, including e-books. | $7 | -41% | $57M | $8M | 0.1x | 0.6x | ||
| Aromatica Co Ltd is a company engaged in manufacturing cosmetics using safe and effective ingredients based on the fragrance and efficacy of essential oils. It provides skincare, hair, body, and home care products. | $4 | -- | $50M | $38M | 1.1x | 8.3x | ||
| Bluemtec Co Ltd is a company whose main business is selling prescription drugs through an e-commerce platform. It operates two pharmaceutical distribution platforms, BluePharmKorea targeting hospitals and clinics, and KoolPharm targeting pharmacies and provide IT services to operate and advance these two platforms. In addition, it is operating BlueLabs, which provides services and website development for pharmaceutical companies and medical institutions. | $1 | -56% | $49M | $63M | 0.5x | 79.2x | ||
| YES24 Co Ltd is an internet-based book, music CD, ticket distributor in Korea. The company was founded in 1999, and introduced a cutting-edge warehouse management system. It owns an online bookstore which controls 37% of publishing market. | $2 | -37% | $47M | $131M | 0.3x | 132.5x | ||
| Studio Samick Co Ltd is a company who is engaged in a home furnishing online distribution business that supplies various home furnishing products such as beds, mattresses, sofas, wardrobes, and body pillows that plan and design in-house to online channels. In addition, the company manages and supervises the delivery process between manufacturing partners and logistics consignors to establish a just-in-time production and on time delivery system. | $1 | -- | $14M | ($747K) | (0.0x) | (0.3x) | ||
| Median | $6 | -37% | $68M | $63M | 0.3x | 5.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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