11st’s core open marketplace operations have achieved full profitability through a white-label model transition. The company revealed on February 25 that it operated this model secretly for three years, yielding strong results.
Impressive Sales Growth
Annual business sales reached 396 billion won, marking a 47% increase from the previous year. Over the last four quarters, sales totaled 109 billion won, reflecting a 53% rise compared to the same period last year.
Analysts attribute this growth to enhanced real-time services that improve user experience.
Ongoing Expansion and Hiring
The open marketplace division continues aggressive hiring, planning to add staff over 23 consecutive months from March 2024 to January 2026. Competing retailers are also ramping up personnel for real-time services targeting individual sellers.
11st emphasizes deeper customer engagement and satisfaction to sustain momentum.
Strategic Initiatives
The company boosted customer marketing efforts, achieving approximately 20% growth in new customer acquisition during the three months from November 2025 to January 2026. It is strengthening its membership service, ’11st Plus,’ and partnering with SK Planet’s ‘OK Cashback’ for broader customer reach.
In the broader market, major e-commerce platforms like JD.com collaborate on overseas regional services, supporting domestic sellers’ international expansion. AI-driven product recommendations further enhance consumer convenience and shift purchasing behaviors.
Leadership Outlook
Park Hyun-soo, president of 11st, stated, “Building on a reinforced platform through solid internal management, we plan to accelerate growth by focusing company-wide efforts on customer and seller acquisition and activation.” He added, “We have secured sustainable profitability improvements at this pace.”
