Coupang announced on the 19th that it ranked 2nd in the '2025 World’s Most Innovative Retail Companies' selected by the U.S. technology and business media Fast Company.
Fast Company selected 609 corporations that showed the most innovative business achievements last year across 58 categories, including automotive, robotics, home appliances, and beauty.
Coupang was chosen as one of the top 10 innovative retail corporations alongside J. Crew (1st), IKEA (3rd), and Amazon (8th).
Fast Company evaluated Coupang, stating, "Coupang has built a robust logistics infrastructure over the last 15 years, leading to explosive growth, by merging Rocket Fresh, Coupang Play, Wow Membership, and free shipping benefits to continuously drive customers' return visits through a 'one-stop' e-commerce experience."
It added, "After acquiring the British e-commerce company Farfetch, which had never made a profit, last year, it achieved breakeven, and in South Korea, it introduced an innovative beauty app, Alux, that delivers well-known brand products on the same day."
Hashal Wanjari, Coupang's engineering vice president, noted, "Coupang's machine learning and artificial intelligence (AI) systems strengthen operations such as search, payment, and fulfillment with trillions of predictions daily," adding, "We have created a unique model that drives success for hundreds of thousands of small and medium-sized business partners and tens of millions of customers worldwide through technological investment."
Coupang holds more than 2,100 global patents, which have tripled in the past four years. Previously, Coupang was ranked 2nd in the Asia-Pacific region in Fast Company’s '2020 World’s Most Innovative Companies.'
Meanwhile, according to Fast Company, J. Crew, which was awarded 1st place among innovative retail corporations this year, struggled after filing for bankruptcy in 2020, but successfully turned around by innovating app technology and diversifying its product catalog, recording an all-time high revenue of $3 billion last year.