Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Private Capital Markets

<a href="https://www.hankyung.com/finance/article/2020040348801" target="_blank" rel="noopener">Kurly</a> is one of the fastest growing online grocery companies in Korea. On 3 April, it was reported that the company received $150 million (185 billion won) in investments from Digital Sky Technologies (DST), Hillhouse Capital, and Sequoia Capital.This new round of investment values Kurly at about 950 billion won, which is close to unicorn status. Based on this round of investments, Kurly is valued at about 950 billion won, which would be 2.2x P/S using the company's sales of 429 billion won in 2019.Kurly provides organic and premium groceries, pastries, salads, and dietary supplements at reasonable prices. Kurly's goal has been to become the Amazon Fresh of Korea. Kurly is clearly one of the leaders in this segment.Kurly has done a fantastic job of gaining and retaining new customers in the past five years. The following are some of the key methods that the company has used to gain and retain customers.<div><ul>
<li>Focus on food quality &amp; freshness</li>
<li>Fast delivery</li>
<li>Hook to get the customer use it for the first time</li>
</ul></div>

Kurly is one of the fastest growing online grocery companies in Korea. On 3 April, it was reported that the company received $150 million (185 billion won) in investments from Digital Sky Technologies (DST), Hillhouse Capital, and Sequoia Capital.This new round of investment values Kurly at about 950 billion won, which is close to unicorn status. Based on this round of investments, Kurly is valued at about 950 billion won, which would be 2.2x P/S using the company's sales of 429 billion won in 2019.Kurly provides organic and premium groceries, pastries, salads, and dietary supplements at reasonable prices. Kurly's goal has been to become the Amazon Fresh of Korea. Kurly is clearly one of the leaders in this segment.Kurly has done a fantastic job of gaining and retaining new customers in the past five years. The following are some of the key methods that the company has used to gain and retain customers.
Focus on food quality &amp; freshness
Fast delivery
Hook to get the customer use it for the first time


Kurly - A Korean Online Grocery Receives $150 Million from DST, Hillhouse Capital, & Sequoia Capital

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In this report, we provide an analysis of 11st and other major Korean e-commerce companies that are likely to have record results in 1H 2020. 
Due to the Wuhan virus, there has been a surge in traffic among major e-commerce sites including 11st, an affiliate of <a href="https://www.smartkarma.com/entities/sk-telecom" target="_blank" data-smartkarma-citation="entities:395:1" rel="noopener">SK Telecom (017670 KS) </a>in recent weeks. Many people in Korea are avoiding going to the crowded supermarkets and other retail shops but instead increasing their shopping online. 
<a href="https://biz.chosun.com/site/data/html_dir/2020/02/02/2020020200549.html?utm_source=naver&amp;utm_medium=original&amp;utm_campaign=biz" target="_blank" rel="noopener">According to 11st</a>, there has been a significant increase in shopping through its online website since the last week of January. In the six days (1/27 ~ 2/1), fresh food purchases on 11st increased 46%, daily necessities 104% and processed foods 53%. Korean ginseng and vitamin purchases also increased by 73% and 45%, respectively. Some products such as masks and hand cleaners experienced exponential increases in demand (up 37,169% and 6,679%, respectively versus the same period in the previous month). 
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In this report, we provide an analysis of 11st and other major Korean e-commerce companies that are likely to have record results in 1H 2020. 
Due to the Wuhan virus, there has been a surge in traffic among major e-commerce sites including 11st, an affiliate of SK Telecom (017670 KS) in recent weeks. Many people in Korea are avoiding going to the crowded supermarkets and other retail shops but instead increasing their shopping online. 
According to 11st, there has been a significant increase in shopping through its online website since the last week of January. In the six days (1/27 ~ 2/1), fresh food purchases on 11st increased 46%, daily necessities 104% and processed foods 53%. Korean ginseng and vitamin purchases also increased by 73% and 45%, respectively. Some products such as masks and hand cleaners experienced exponential increases in demand (up 37,169% and 6,679%, respectively versus the same period in the previous month). 


Record Results for 11st & Other Major Korean E-Commerce Players Likely in 1H 2020

South Korea

Kurly Inc. wholesales and distributes food products. The Company wholesales and distributes fresh food, processed food, and other related products. Kurly markets its products throughout South Korea.

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Kurly Inc (1653187D KS)

Kurly - A Korean Online Grocery Receives $150 Million from DST, Hillhouse Capital, & Sequoia Capital

Kurly is one of the fastest growing online grocery companies in Korea. On 3 April, it was reported that the company received $150 million (185...

Douglas Kim

Record Results for 11st & Other Major Korean E-Commerce Players Likely in 1H 2020

In this report, we provide an analysis of 11st and other major Korean e-commerce companies that are likely to have record results in 1H 2020. Due...

Douglas Kim

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)