Seoul: U.S.-listed e-commerce giant Coupang Inc. announced on Wednesday that its third-quarter net profit increased by 51 percent from the previous year, primarily due to strong performances in its product commerce and new business segments. In the quarter ending September 30, Coupang's net profit rose to 131.6 billion won (US$95 million), up from 86.9 billion won a year earlier, as highlighted in the company's press release.

According to Yonhap News Agency, Coupang's operating profit also saw a significant increase of 51.5 percent, reaching 224.5 billion won from 148.1 billion won in the same period last year. Additionally, sales grew by 20 percent to 12.84 trillion won from 10.69 trillion won. The company's mainstay product commerce division, particularly its Rocket Delivery service, along with growth in new business ventures such as luxury fashion platform Farfetch Holdings, operations in Taiwan, and the food delivery service Coupang Eats, were key contributors to the robust quarterly performance.

Sales in Coupang's new growth businesses increased by 31 percent year-on-year to 1.78 trillion won during the quarter. The acquisition of British luxury retailer Farfetch in January 2024 bolstered Coupang's position in the $400 billion global personal luxury goods market, marking a strategic expansion into new territory.