K Cube Ventures (Co-CEOs SW Yu and Andy Shin) announced on Sept. 13 its investment in Kooding, a leading global shopping platform for Korean fashion. This round of Series A (amount undisclosed) was led by both K Cube Ventures and Inmost Partners.
Kooding was founded in March 2013 as a global cross-border* online fashion marketplace connecting consumers from around the world to authentic Korean brands. The company’s 50+ local brands are sold in over 70 countries including the U.S. and Canada.
Kooding allows its local brand customers to make overseas sales without separate investment in marketing or delivery systems, eliminating barriers of growth. It is common for local companies to make significant investment in adopting new payment, delivery, marketing and customer service systems in order to make overseas sales. However, through Kooding’s platform, the process of building global sales becomes free for local brands.
The company maintains trust with its customers and consumers by building a stable, efficient business model. Every order is completed through delivery within 3-4 days of purchase, reducing any risks of unsold inventory.
CEO Jung Bin Ryoo notes that the company’s “return rate is only one sixth of the industry average,” and the team is “constantly working to improve customer and consumer satisfaction.” Ryoo also plans to use the recent investment to enhance the company’s distribution process and marketing efforts, as well as develop more partnerships with designer brands.
K Cube Ventures Partner Shina Chung comments that “of the 2 million fashion brands in the world, there are around 100 top global brands, with the remaining being local brands facing significant barriers to foreign expansion. Kooding solves a lot of the difficulties for the local customers and also helps consumers around the world interested in Korean fashion to conveniently purchase them online. We are excited to see Kooding grow as a one-of-a-kind fashion commerce model.”
*cross-border: transactions taking place across borders
KOODING is the global leading website in providing authentic Korean fashion, including clothing, shoes, accessories, bags, and stationery directly from Korea in an affordable, fast, easy, and safe way. We take all the unnecessary and cumbersome steps away from you when you purchase products from Korea. We have all kinds of fashion items that will ease your search for your unique style. You can now easily enjoy the great arrange of popular Korean brands and the best quality products with excellent 24 hour customer service at KOODING.com
Abound K Cube Ventures
K Cube Ventures believes in harnessing the power of startups to change our world. We believe entrepreneurship is the ultimate process of solving real world problems, bettering the quality of all of our lives. This is why we hold entrepreneurs in the highest regard, and this conviction gives us the reason to stay devoted to creating a world-class nurturing ground for talented people to create startups. Our portfolio companies get to join the community network known as the K Cube Family that provides a sense of inclusion, and get to share similar visions and unconditional passion for what they respectively strive for.
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