FEELWAY

About FEELWAY

FEELWAY operates as a pivotal e-commerce marketplace in South Korea's luxury goods sector, headquartered in Goyang-si. Founded on October 26, 2002, by Kim Sung-jin, the company pioneered the online luxury platform model in the country. Kim Sung-jin, who established the company, briefly stepped away from management after selling it to Cafe24 in 2018 but made a significant return as CEO in March 2022. He reacquired a stake in the company in late 2023 through SJ Holdings, entering into a joint management structure with MNC Innovation Growth Private Equity Fund to stabilize and improve the company's financial footing.

The platform functions as an open market, enabling anyone to register as a seller and list luxury products, ranging from new items sold by purchasing agencies to pre-owned goods from individual consumers. This model has cultivated a vast and diverse inventory, with approximately 1.5 million items available at any given time and a cumulative member base exceeding 3 million. Revenue is generated through commissions on transactions conducted through the site. The company emphasizes a neutral stance, ensuring that all sellers, whether large-scale vendors or individual consumers, receive equal treatment on the platform without preferential exposure.

FEELWAY has built its reputation on trust and transparency, a critical factor in the luxury resale market. A cornerstone of this trust is the 'Luxury Knowledge' community service, initiated in 2003, which allows users to upload photos of items for authenticity checks by community experts. To further bolster confidence, the company has introduced a professional in-house appraisal service for items purchased on the platform and also operates a 'Luxury Authentication Center' for items bought elsewhere. In addition to its core marketplace, FEELWAY has expanded its service offerings with features like 'Panda', a simplified listing service for used luxury goods, and a 'Bargaining' function that allows buyers to negotiate prices with sellers. The company also operates a physical store in Apgujeong, 'Feelway Eco Space', for consignment, purchase, and sale of high-end used luxury items.