Dealicious

About Dealicious

Dealicious Inc. is a key player in the digital transformation of South Korea's fashion wholesale market. The company was founded in 2011 and is led by CEOs Junho Kim and Changhan Jung. Dealicious operates as a B2B platform, effectively moving the traditionally offline transactions of Seoul's Dongdaemun fashion district into an online environment. This strategic shift addresses the logistical challenges and physical limitations previously faced by wholesalers and retailers, creating a more efficient marketplace.

The company's core offering is 'Sinsang Market', a platform that connects fashion wholesalers with retail businesses globally. It boasts that 80% of fashion wholesalers in the Dongdaemun area are listed, with over 120,000 active retail users and a high retention rate of 93%. Retailers can browse thousands of new items daily without physically visiting the market. The business generates revenue through various services, including fulfillment and logistics through 'Dealibird' (also referred to as 'Sinsang Delivery'), an advertising platform called 'Sinsang Ad' for wholesalers to promote their products, and a payment service named 'Sinsang Pay'. They also offer 'Sinsang Studio', a one-stop service that handles everything from product pickup to photoshoots and uploading images to the platform.

Dealicious has demonstrated significant growth, backed by substantial funding rounds. After an initial Series A of KRW 2.0 billion in April 2017, the company secured KRW 16.0 billion in a March 2019 Series B round from investors including Stonebridge, DSC Investment, and SmileGate Investment. This was followed by a KRW 7.0 billion investment from NAVER in March 2020 and a large Series C round of KRW 54.0 billion in January 2022, bringing its total disclosed funding to over $66 million USD. The company's ambition extends beyond the domestic market, with plans to connect Dongdaemun wholesalers to a global audience and has already launched services in China and Japan.