Alibaba, the Chinese e-commerce giant, has invested in Ably, South Korea’s largest online fashion platform, with a valuation exceeding US$1.5 billion. This move is part of Alibaba’s strategy to expand its presence in the South Korean market. According to Yonhap News Agency, citing a business strategy document from Alibaba, the company will invest US$200 million to establish a logistics center and US$100 million to support small and medium-sized enterprises (SMEs) in South Korea in exporting their products internationally. Ably has achieved significant success in the South Korean online fashion arena, becoming the platform with the most user accounts and reporting profitability last year. Its strength in the women’s garment market aligns with AliExpress’s strategy to develop a dedicated women’s apparel channel on its global platform. Alibaba’s investment in Ably underscores the growing importance of the South Korean e-commerce market, particularly in the online fashion segment.
Alibaba Invests in South Korea’s Ably Fashion App, Targets Online Apparel Market
