[Edaily Reporter Yun Junghoon ] Naver (NAVER(035420)) has decided to invest 130 billion won in the limited-edition trading platform “KREAM” and plans to expand its global consumer-to-consumer (C2C) commerce business.

According to the Financial Supervisory Service’s electronic disclosure system on the 4th, Naver announced that it held a board meeting that day and resolved to participate in a capital increase by its affiliate KREAM, acquiring 38,681 common shares for 130 billion won. The planned issue price per share is approximately 3,360,823 won, and this investment is expected to be completed during the second half of this year.

Regarding this investment, Naver explained, “The purpose is to secure funds to expand the scale of the business and strengthen competitiveness.” Following the investment, the combined stake in Cream held by Naver and its affiliate (Snow) is expected to increase from the current 43.31% to approximately 50%.

Global Partnership with Wallapop and Poshmark… Strengthening Profitability and Self-Sustainability

The market views Naver’s investment as going beyond mere financial support; it signifies the expansion of self-sustainability and the entry into a monetization phase for a “global C2C alliance” centered on Cream.

Naver has been building its value chain by successively acquiring and investing in key global C2C platforms, such as Europe’s “Wallapop,” North America’s “Poshmark,” and Japan’s “SODA” (operator of Sneaker Dunk). Armed with this newly secured capital, Kream plans to further strengthen service integration with these overseas platforms and actively introduce high-value-added business models, such as launching private-label (PB) products. Last month, it launched its first private-label fashion brand, “Acryl Inc.”

In particular, the company aims to move beyond reliance on simple brokerage fees by expanding its high-margin private label (PB) product line and revitalizing its global cross-trading network to establish a self-sustaining revenue model.

Consolidating Gains Amid Improving Performance… Positioning C2C as a Core Pillar of Naver Commerce

Cream, which spun off from Naver’s subsidiary Snow in 2020, has grown rapidly by dominating the limited-edition resale market for items such as sneakers, luxury goods, trading cards, and IT devices. Last year, on a standalone basis, revenue reached 202.5 billion won, a 14% increase from the previous year. The company significantly reduced its operating loss to 8.1 billion won and achieved an EBITDA of 4.8 billion won, laying the groundwork for a return to profitability.

Combined revenue, including consolidated subsidiaries such as Japan’s Soda, reached 397.5 billion won, with combined EBITDA totaling 12.5 billion won.

A Cream official stated, “While the nature of a C2C platform requires significant investment in a rigorous inspection system and logistics infrastructure, it holds great strategic value in the increasingly personalized global online commerce environment,” adding, “We will expand our business—including our recently launched private-label fashion line—to simultaneously boost the platform’s self-sustainability and profitability.”