Coupang Taiwan, revenue from CoupangEats and Farfetch shot up 78% on-year in the first quarter in aggregate.“The number of products available on Coupang Taiwan soared nearly 500% in the first quarter (compared to a year before,” said Bom Kim, founder and chief executive of Coupang, during an earnings call on Wednesday.“Our continued investment in Taiwan reflects our strong belief in success there.”He pledged to continue investing, saying: “To stay competitive in the dynamic business environment, we need to keep innovating and investing.”By Tae-Ung BaeBtu104@hankyung.com Yeonhee Kim edited this article.
In March, it launched Naver Delivery, an arrival guarantee service offering free delivery and returns for paid members, emulating Coupang’s WOW membership program.(link) “With e-commerce players engaged in cut-throat competition to counter Coupang, weakening consumer sentiment is inevitably leading to a decline in sales,” said a retail industry official.
Coupang Inc., South Korea’s largest e-commerce platform, extended its year-on-year sales growth with a 11.1% increase to $7.9 billion in first-quarter revenue, led by its Taiwanese operations, food delivery app Coupang Eats and online luxury mall Farfetch, according to its regulatory filing on Wednesday.
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