KREAM Corporation

KREAM Corporation is a prominent South Korean company specializing in the resale of limited-edition sneakers and luxury goods.

Established in 2020 as a subsidiary of NAVER's SNOW Corporation, KREAM has rapidly emerged as a significant player in the Korean fashion C2C market, recording an annual growth rate exceeding 230% based on transaction volume.

In October 2023, KREAM announced a strategic integration with SODA Inc., the operator of Japan's largest limited-edition goods trading platform, SNKRDUNK. This move aims to create the leading C2C and fashion e-commerce platform in the Asia-Pacific region, extending beyond Korea and Japan to other countries such as the United States, Australia, Thailand, Singapore, Indonesia, and Malaysia. The integration is expected to be completed in the first half of 2024, with SODA's CEO, Yuta Uchiyama, joining KREAM as a board member and chief officer for global expansion.

KREAM's investment strategy includes acquiring stakes in Asian peers, such as Japan's SODA, Thailand's Sasom, and Malaysia's Shake Hands, to strategically connect Asia-based reselling platforms. This approach enables users to leverage KREAM and its C2C resale affiliates to buy and sell luxury items, enhancing the platform's global presence and user engagement.

In March 2023, KREAM completed a $168 million Series C funding round, led by Altos Ventures, with participation from Naver, SoftBank Ventures Asia, Mirae Asset Capital, Samsung Securities, and Axiom Asia. This funding valued the company at approximately $742 million, more than doubling its previous valuation of $306 million in October 2021. The capital is intended to support KREAM's expansion into new markets, including the United States, Australia, Thailand, Singapore, Indonesia, and Malaysia, and to strengthen its position as a leading C2C and fashion e-commerce platform in the Asia-Pacific region.

KREAM's rapid growth and strategic investments underscore its commitment to becoming a dominant force in the global fashion resale market, connecting consumers across Asia and beyond through its innovative platform and strategic partnerships.