Delicious Submits Securities Registration Statement, Initiates KOSDAQ Listing Process

Operating 'Sinsang Market' App, Connecting Dongdaemun Garment Wholesalers and Retailers
"Strengthening Platform Competitiveness Through KOSDAQ Listing"

Delicious, a B2B fashion platform company, has submitted its securities registration statement, officially beginning the process for listing on the KOSDAQ market.

On June 25, Delicious announced that it had submitted its securities registration statement to the Financial Services Commission the previous day. The company plans to offer 2.2 million shares in this IPO, with an expected price band of 5,000 to 7,000 won per share. The total amount to be raised is estimated between 11 billion and 15.4 billion won. Institutional demand forecasting will take place from July 23 to 29, with general subscriptions scheduled for August 3 and 4. Korea Investment & Securities is serving as the lead underwriter.

Delicious operates the fashion B2B platform "Sinsang Market." Launched in 2013, the Sinsang Market app shifted the Dongdaemun garment wholesale and retail business from offline to online, connecting the Dongdaemun wholesale market with retailers nationwide. For wholesalers, it offers an online-based product exposure and sales channel, while for retailers, it creates a transaction environment that enhances convenience in product discovery and ordering.

The platform's competitiveness has led to growth in transaction metrics. Sinsang Market has surpassed a cumulative transaction volume of 5 trillion won, with a total of 9.26 million accumulated wholesale order receipts and 50.12 million accumulated product orders.

Delicious is expanding advertising and membership-based platform services centered around Sinsang Market, enhancing transaction convenience and operational efficiency for both wholesalers and retailers. Its flagship service, "Sinsang Ad," is an advertising service that supports product and store exposure for wholesalers, offering a variety of advertising products such as AI-powered ads, search listings, and brand advertisements. In addition, "Sinsang Membership" for wholesalers and "Plus Membership" for retailers provide subscription-based services tailored to each business operator's needs, such as content creation and shipping discounts.

Delicious is achieving stable performance growth based on Sinsang Market. According to the company, revenue last year reached 30.7 billion won, up 23.7% from the previous year, while operating profit was 1.6 billion won, an increase of 6.3 billion won year-on-year.

Through this IPO, the company plans to further enhance its revenue models—such as advertising, membership, logistics, and Software as a Service (SaaS)—based on Sinsang Market's transaction data. Leveraging its platform operation capabilities established in the domestic fashion B2B market, Delicious also aims to expand into global markets and introduce new services to strengthen its mid- to long-term growth momentum.

Junho Kim and Changhan Jung, co-CEOs of Delicious, stated, "Delicious has been leading structural change in the Dongdaemun garment wholesale market by advancing the fashion wholesale and retail transaction infrastructure centered on Sinsang Market. Through this KOSDAQ listing, we will further strengthen our platform's competitiveness and expand our foundation for sustainable growth not only in Korea but also in the global fashion B2B market."

This content was produced with the assistance of AI translation services.