Jente, achieves record high sales of 24 million USD in 2022, an increase of 140% compared to the previous year
Third Generation Luxury platform Jente, which launched in 2020, has achieved its highest-ever sales figures, driving its leap to a global platform beyond Korea. According to the consolidated financial statements, Jente reported sales of approximately 24 million USD and gross profits of approximately 3.3 million USD in 2022. This is an increase of approximately 140% compared to sales of approximately 10 million USD in 2021, and gross profits have grown approximately 269% from approximately 0.9 million USD to approximately 3.3 million USD. With this, Jente has established itself as a third-generation representative luxury platform, with three consecutive years of sales growth since its inception. This achievement is also reflected in Jente's monthly active user (MAU) numbers, which represent the actual number of site users. The January 2022 "Monthly Active User" for Jente was 725,000, more than double the same period last year and seven times higher than in 2021, demonstrating its sustained growth through differentiated systems and customer-centered services. Against the backdrop of an unstable market, 2-year-old Jente's rapid growth is attributed to its differentiated business system from previous 1st and 2nd generation luxury platforms. Jente's structure of directly contracting with over 100 European local luxury boutiques in Italy, France, Switzerland, and other countries without complex intermediary distribution channels gives it a competitive edge in terms of price compared to other platforms, while also effectively preventing the issue of genuine goods, which is a persistent problem for luxury platforms. Especially, through the real-time inventory synchronization system with boutiques, called 'Jente Foret,' Jente collects and processes product data from boutiques in real-time to secure stable supply and product diversity, and increase customer satisfaction. As a result, proving its strong local network and platform competitiveness, Jente signed a partnership agreement with the Italian Chamber of Commerce in Korea (ITCCK) in early this year, becoming the first domestic e-commerce company to do so. Jente focuses on content and also puts effort into communicating with customers. As Jente aims to become a platform that not only sells products but also conveys the essence and value of luxury, it provides high-quality content on topics that customers are interested in, such as brand history and trend predictions from the customer's perspective. Building on its remarkable domestic success, Jente is pushing ahead with global expansion. Following a surge in purchase inquiries from Japanese consumers in the second half of last year, Jente is set to officially launch its service in Japan in the first half of this year. It is unprecedented for a Korean luxury brand to be invited to expand into Japan, a market over two times the size of the Korean luxury market. With this Japanese expansion as a starting point, Jente plans to gradually expand its service area to Southeast Asian countries such as Indonesia and Malaysia in the future. Jente CEO Jimmy Jung said, "Based on the close trust with overseas boutiques, we were able to quickly secure representative products of designer brands that are highly demanded by domestic fashion early adopters, and secure product diversity and stable profitability. In the future, we will become a global platform based on Jente's differentiated strengths, beyond Korea." 강동현 기자 [email protected] million luxury platforms increase customer sales growth
