Onnuri Store

About Onnuri Store

Onnuri Store is the official online e-commerce platform for Onnuri Pharmacy, South Korea's largest pharmacy chain with over 2,500 locations. The platform operates in the health and wellness sector, offering a wide range of products including health supplements, over-the-counter (OTC) items, food, beauty, and home goods. The company's business model combines e-commerce with brand distribution, acting as the exclusive Korean distributor for global brands like TheraBreath, ChildLife, and Jarrow Formulas, managing their market entry, sales, and marketing. This strategy has led to significant sales growth for its partners; for instance, TheraBreath saw a 30-fold increase in sales within a year.

The company was founded in 2021 by CEO Park Hyo-su. Park, son of Park Jong-hwa who founded the Onnuri Pharmacy chain in 1991, has a background in industrial engineering from Seoul National University and worked as a restructuring specialist at McKinsey & Company and Orix PE for seven years. This experience shaped his focus on maintaining positive cash flow, enabling the company to achieve profitability every year since its inception, a rarity in the e-commerce industry. The firm started with 50 million KRW in capital and has seen rapid revenue growth, reporting 71.6 billion KRW in 2023. In April 2022, Onnuri Store secured 15 billion KRW in a Series A funding round from investors including Union Investment Partners and Quad Asset Management.

A key product is the PRESS SHOT, a dual-type multivitamin launched in 2022, which sold over 6 million bottles by June 2024. Onnuri Store aims to create an integrated on-offline experience by linking its digital platform with the extensive network of its parent company's physical pharmacies. The platform primarily generates revenue through direct sales of its 400+ private label products and a vast catalog of other items, alongside its distribution services for international brands.