How the blockchain based luxury platform ‘GUHADA’ differentiates itself

‘GUHADA’, a platform for cross border purchase of overseas luxury goods, is a bit unusual. While many luxury cross border purchase services operate in the form of sales agencies, GUHADA has direct contracts with boutiques.

GUHADA is an cross border luxury direct purchase platform and has direct contracts with more than 40 European luxury boutiques in Europe. The number of GUHADA’s members is over 240,000, and the monthly average number of users (MAU) is about 800,000. In cooperation with GS Home Shopping, GS Shop, Lotte On, Mustit, Balaan and more, it is providing direct purchase services. Annual sales grew from 1.1 billion KRW in 2019 to 5.3 billion KRW in 2020 and 10 billion KRW in 2021.

Why do you sign a direct contract with the European boutiques?

There are three advantages. First, real-time API integration is possible, enabling quick and accurate shopping information to be provided to consumers. Second, by applying blockchain technology, information related to luxury goods can be stored and shared transparently. Third, it is possible to introduce many items from the boutiques. It is possible to introduce not only certain carry-over standard products, but also unique items handled by boutiques. The above benefits are beneficial to both boutiques and consumers.

When you obtain product information integrated with a boutique and register it in the system, the product information is transparently stored on the blockchain. user can always check it through the blockchain link button on the product detail page. The blockchain platform utilizes ‘Klaytn’. GUHADA was selected as an early service partner in the Kakao blockchain commerce field, and developed a blockchain based supply chain management platform with GS SHOP.

GUHADA plans to contract with over 100 boutiques by 2022. By doing so, GUHADA will upgrade the ‘integrated management system for all stages’, which is responsible for delivery, exchange, and return of products after ordering directly from the boutique without going through the intermediate distribution stage. GUHADA aims to be ‘Korea’s Farfetch’. We aim to become a platform that provides B2B2C luxury digital information not only to our own platform but also to the entire domestic online shopping industry that handles luxury items.

Thank you for your support!

TEMCO Team