that its substantial investments in logistics infrastructure – amounting to over 520 billion won – had a significant impact on the quarterly financial results. However, operating profit rose 29 per cent to 148.1 billion won in the third quarter from 114.6 billion won a year ago.  Coupang recently revamped its premium beauty product delivery service, rebranding Rocket Luxury as R.Lux and launching a dedicated app to improve customer experience. R.Lux operates by pre-purchasing and storing high-end beauty products from more than 20 high-end brands, including SK-II, Estee Lauder, and Sulwhasoo, in Coupang’s nationwide logistics centres. The platform is also planning to expand its portfolio.  “We’ve partnered directly with luxury brands to provide a new kind of white blood service,” Kim said.  “Customers interact with the most exclusive brands in R.Lux’s rich and sophisticated shopping environment and receive products via Rockets next or same-day delivery and elevated packaging custom-designed exclusively for R.Lux. It’s just another example of the latest selection and service we’ve added to our customers’ delight, and there’s much more to come,” he added.  Farfetch, which the company acquired last year for US$500 million, reached the end-of-year goal of near-breakeven adjusted EBITDA in the third quarter.  “We’re proud of the speed, especially at scale and the discipline with which the team has executed so far this year, there’s still more work to do there, and our goal is to finish the job of stabilisation through the remainder of the year,” Kim said.  “Next year, we’ll begin to assess other opportunities, including synergies with Coupang.” He added that newer offerings and categories, like Fulfillment and Logistics by Coupang (FLC) and R.Lux, are examples of the massive growth opportunity from selection expansion on Rocket Delivery.  “Our nascent offerings like Eats, Taiwan, Play, and Farfetch, along with ads in FLC, continue to march forward on the positive trajectory that we’ve seen throughout the year,” he said. “It’s important to note that with each of these offerings, we’re still in the very early stages of the journey.” Competition heats up  Coupang is currently navigating a competitive landscape with the emergence of prominent Chinese e-commerce platforms. Notably, PDD Holdings’ Temu and Alibaba Group’s AliExpress have established themselves as formidable competitors, implementing strategic marketing initiatives to expand their customer base. In response to this mounting pressure, the company has announced an ambitious investment plan, allocating a substantial sum of 3 trillion won (approximately US$2.3 billion) over the next three years.  Following the results, Coupang announced Kim would unload 15 million shares in the company while donating 2 million other shares of Coupang Class A common stock to a fund for future charitable donations. This marks the CEO’s first share sell-off since Coupang’s Wall Street listing in 2021. Kim remains the group’s biggest shareholder with about 157.8 million Class B shares after the planned sell-off and he has no further plans to unload stocks.  The company said that after the completion of these transactions, Kim does not intend to engage in any further share transactions until the end of next year.