APAC e-commerce aggregator, Una Brands, announced yesterday that the company has committed 120 billion won to South Korea’s e-commerce market across two years, through a strategic alliance with local counterpart, KlickBrands.
This marks the first time Una Brands has entered a market with a domestic partner. The alliance seeks to combine Una Brands’ global cross-border network with KlickBrands’ understanding of the South Korean market. Together, they will grow local e-commerce brands domestically and into Southeast Asian markets such as Indonesia, Malaysia, and Thailand.
Una Brands and KlickBrands will invest up to US$100M to partner with and scale at least 25 or more profitable e-commerce brands with revenues of up to US$50M, across categories such as health, K-beauty, baby, pets, and home and living brands.
Una Brands has already established its presence in Singapore, Australia, India, China, Indonesia, Malaysia, and Taiwan in under a year, with South Korea being the next strategic market for the business’ bullish expansion.
South Korea was identified as a key market for the company, being the fifth-largest e-commerce market globally with an annual growth rate of around 14 per cent and an expected market value of US$250bn by 2025.
