Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Coupang Inc., a leading e-commerce company in South Korea, reportedly launched its new Rocket Growth Fashion unit. Sources said this week that the company debuted this in-house division as its rival, Kurly, which is formerly known as Market Kurly, recently established its Beauty Kurly unit.
With its Rocket Growth Fashion, Coupang will focus on bolstering its retail fashion business. One of the things that it will do to reach its goals is to add new brands and recruit more vendors that will sell fashion items on its platform.
It was noted that Coupang was able to get 35 new brands to sell their products on its e-commerce platform, and this was in the first half of 2022 alone. This means that the company has been enjoying its unbeaten position in the food and household essentials market.
However, its retail fashion category has been weak compared to the others thus, it debuted its Rocket Growth Fashion with the aim of making this unit stronger. As per The Korea Economic Daily, based on consumer data from Opensurvery, only 16.3% of customers are buying fashion products on Coupang’s platform
In comparison with its other rival, Naver Shopping, 33.3% of its shoppers are purchasing fashion items. There is apparently a big percentage difference, so Coupang is working on boosting the numbers through the launch of its Rocket Growth Fashion unit.
The company is also looking to catch up and compete with bigger online fashion e-commerce sites in South Korea. For this, Musinsa will be its biggest competitor in this line of fashion retail business.
Meanwhile, Coupang has already launched a campaign in its effort to partner with local fashion brands. Currently, some of the fashion retailers that are already selling on Coupang’s site include Chuu and Imvely.
“We have been approached multiple times by Coupang since last year,” an employee of a fashion brand said in relation to Coupang’s move to add more brands to its e-commerce platform. “It appears that it is making an effort to host brands in the low and mid-price range on its platform.”
