Alibaba invests over $70m in South Korea's fashion platform

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Alibaba invests over $70m in South Korea’s fashion platform

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Alibaba invests over $70m in South Korea’s fashion platform

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Alibaba Group has invested 100 billion won (US$70.7 million) in South Korea’s online K-fashion platform Ably Corp.

This marks the firm’s first collaboration with a global company, Ably announced on Tuesday.

The investment values Ably at 3 trillion won (US$2.1 billion), confirming its unicorn status in South Korea’s ecommerce fashion industry.

Ably’s monthly active users reached 8.8 million in October.

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