Balan, a luxury commerce platform that recently attracted 25 billion won in Series C investment, announced on the 20th that it will spin off its B2B business and significantly strengthen its services to retailers.

Balan’s B2B service provides domestic small and medium-sized retailers (SMEs) with △ reasonable wholesale prices △ minimized inventory risks through orders based on demand prediction △ customs clearance and fulfillment systems. The main point is to improve the existing inefficient cost structure.

Balan will spin off its B2B service division as ‘Valan Connect’ next month. A Balan official said, “The need to actively support partners in the luxury distribution market has increased,” adding, “We will build a stable business structure through B2B spin-off and lay the foundation for sustainable growth with our partners.”

Partners can reliably secure more products and increase inventory turnover through Balan Connect. Vendors (brands and overseas boutiques) reduce the risk of unpaid payments by quickly and easily receiving transaction payments from buyers (parallel importers).

Balan Connect helps convenient and safe transactions by vertically integrating value chains, including B2B services, enterprise resource management (ERP), and fulfillment to partners in luxury markets, including stores.

“Customers will be able to purchase good products at relatively low prices,” said Choi Hyung-joon, CEO of Balan Connect. “We will fulfill our social responsibilities as a leader in luxury platforms by actively supporting partner companies’ businesses and creating innovative business structures that can coexist in the industry.”

By founder

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