News Formal

South Korean e-commerce company Coupang swings to Q2 net loss

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 66%

इंडिया समाचार समाचार

इंडिया ताज़ा खबर,इंडिया मुख्य बातें

SEOUL : South Korean e-commerce company Coupang Inc swung to a net loss in the second quarter due to operating losses at its luxury online platform subsidiary Farfetch and the estimated costs of a fine imposed by the domestic antitrust watchdog.

FILE PHOTO: Delivery trucks for e-commerce retailer Coupang leave a distribution centre in Seoul, South Korea, June 21, 2018. Picture taken June 21, 2018. REUTERS/Josh Smith/File Photo

Coupang bought Farfetch in a deal that provided the struggling online luxury fashion retailer with $500 million in capital to keep operating. The acquisition was completed in January. "On Farfetch, as we stated last quarter, our goal is to generate close to positive adjusted EBITDA on a run-rate basis by the end of the calendar year," Bom Kim, Coupang's founder and chief executive officer, told an earnings call.

In June, South Korea's antitrust regulator announced the imposition of 140 billion won in fines against Coupang for allegedly manipulating search rankings.

 

आपकी टिप्पणी के लिए धन्यवाद। आपकी टिप्पणी समीक्षा के बाद प्रकाशित की जाएगी।
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

 /  🏆 6. in İN

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Woes at Qoo10's South Korean e-commerce units intensify as companies cut tiesSouth Korean authorities have launched an investigation into Seoul-based TMON and WeMakePrice, both owned by Qoo10.
स्रोत: straits_times - 🏆 5. / 69 और पढो »