South Korea’s KREAM acquires SNKRDUNK operator SODA

Integration of both fashion e-commerce platforms companies will dominate the APAC region.

South Korea-based online trading platform KREAM has purchased the e-commerce company SODA, operator of Japan-based trading platform SNKRDUNK, specialising in flea markets and limited-edition goods. 

With the acquisition, SODA and SNKRDUNK will be merged into KREAM’s consolidated division, expanding its product and channel offerings for both brands beyond South Korea and Japan. The integration is expected to create the top customer-to-customer (C2C) and fashion e-commerce platform in the APAC region.

SODA started SNKRDUNK in 2018, backed by SoftBank's Vision Fund 2. In 2021, SODA acquired the second-biggest online sneaker platform MONOKABU, becoming the undisputed leader in Japan.

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KREAM began in 2021 as one of the subsidiaries of major Korean online platform NAVER. It quickly emerged as the largest name in Korea’s fashion C2C market with an annual growth rate of 230%, propelled by the peninsula nation’s young audience and trendsetters.

The process of integration of the two major fashion platforms will be completed by the first half of 2024.