Sweet Spot, a pop-up and commercial real estate specialist, announced on the 26th that it has selected KB Securities as its lead manager for its IPO and has begun full-scale preparations for its IPO.
Founded in 2015, Sweet Spot has grown through two main businesses: a "total pop-up store solution" that includes planning and operating brand-tailored pop-up stores, and commercial real estate leasing (LM) and asset management (PM) services that utilize commercial district and customer data.
To date, accumulated investment has reached 18 billion won, with major investors including Altos Ventures, Industrial Bank of Korea, Signite, and Woomi Group. The company achieved a turnaround in the first half of this year, recording sales growth more than doubling year-on-year.
Since its founding, Sweetspot has hosted over 8,200 pop-up stores and collaborated with a variety of renowned brands both domestically and internationally. Launched in March, "Shop Atpisode," a pop-up store service exclusively for corporate headquarters, is slated to open additional locations based on high customer satisfaction. Furthermore, its pop-up information platform "Popga" and exclusive pop-up space "Sweetspot Stage" are also experiencing continued growth.
In the commercial real estate sector, the company also demonstrated its competitiveness by achieving 100% occupancy rates in major commercial facilities such as Gangdong I-Park The River and Yeouido Finance Tower.
SweetSpot is leading the digital transformation of the retail market by providing spatial data-based market analysis and consumer behavior data solutions. With its IPO, the company plans to advance into a retail tech company by: enhancing its data-driven operational system and expanding investment in AI and technology infrastructure.
Kim Jeong-su, CEO of Sweet Spot, said, “For the past 10 years, we have been leading offline retail innovation and creating new consumer experiences centered around pop-up stores. Through the listing, we will accelerate the growth of our core businesses, including ‘Popga,’ and further strengthen our market dominance.”
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