Cream operates a resale marketplace that is expanding into the used luxury category via its subsidiary Fab, which runs the Chic platform. Cream acquired Fab in March of last year and has used the unit to grow its luxury offering and run collaborations and pop-ups. Fab’s Chic surpassed a cumulative transaction volume of ₩1000억원 in July, providing an operating signal behind the category push. This month Fab received ₩50억원 in fresh capital (including a ₩20억원 investment from Delivery Hero and a capital injection participated in by Cream), and Cream itself secured a ₩500억원 follow-on investment that pushed its valuation to 1조206억원 and unicorn status. Cream is also deploying roughly ₩157억원 to acquire a 49.7% stake in Japan’s SODA (operator of the limited‑edition platform ‘스니커덩크’) as part of overseas expansion. The company has been raising transaction fees—up to 8.8% cumulatively—and recently increased Chic’s sale/purchase fees to 3% plus a ₩30,000 inspection fee to improve profitability ahead of a potential IPO.

Total raised

$39M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2023