(MENAFN- GlobeNewsWire - Nasdaq)
SEOUL, South Korea, March 13, 2024 (GLOBE NEWSWIRE) -- Epic Corporation operates Epic One, a luxury secondhand trading platform based in South Korea. The company achieved an annual revenue of $17 million dollars (19 billion KRW) last year and successfully raised $3 million (3.5 billion KRW) in funding.
The app allows users to easily sell their products by simply uploading five photos and receiving an immediate price quote. Additionally, it facilitates secondhand transactions by connecting sellers with buyers through consignment. Utilizing an AI-based pricing system, the platform ensures swift transactions with significantly higher closure rates compared to other secondhand trading sites.
With its innovative strategies, Epic Corporation has experienced rapid growth within just a year and a half since its founding, positioning itself as a game-changer in the Asian luxury secondhand trading industry. Nearly half of Epic's total transaction volume comes from international markets, indicating a strong presence and demand overseas.
While conventional secondhand goods marketplaces such as Carousell are popular in Southeast Asia, there's still a gap in the market specifically catering to luxury product trading. Epic Corporation specializes in the secondhand trading of high-end furniture, luxury watches, and bags, providing a secure logistics system with genuine product verification and insurance. With Epic, there's no need for direct meetings between buyers and sellers or the hassle of negotiating prices.
Consumers have been quick to appreciate the convenience of Epic, noting that they can buy or sell luxury watches exceeding $15,000 without the need for a single phone call or chat. This immediate positive response from consumers highlights the platform's novelty and ease of use.
Looking ahead, CEO of Epic Corporation Sarah Kim said,“We are gearing up to leap into becoming the number one luxury lifestyle platform in Asia.” The company is preparing to launch its app in new markets with significant growth potential and high spending on luxury goods, including Singapore, Hong Kong, and the Middle East.
A photo accompanying this announcement is available at
Contact:
Jinwook Park
...
+82-10-9241-1235
MENAFN13032024004107003653ID1107969918
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.