China's Alibaba is seeking to invest 100 billion won in the Korean fashion platform ABLY. By attracting this investment, ABLY plans to expand the global sales channel of Dongdaemun shopping mall.
If ABLY receives investment, Alibaba is expected to secure about 5% of the shares. ABLY provides a platform for easily starting a mobile fashion mall. Alibaba has been in contact with Korea's E-commerce industry for equity investment.
Alibaba pays attention to ABLY's competitiveness, particularly in women's fashion for those in their 20s and 30s, as well as its AI-based personalized recommendation algorithm service. ABLY has collected its users through large-scale investment in marketing, and as a result, it has faced a state of capital erosion.
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