South Korean e-commerce giant Coupang Inc. has been named the world’s second most innovative retail company. (Image courtesy of Coupang)
SEOUL, March 20 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has been named the world’s second most innovative retail company by the U.S. business magazine Fast Company, the company announced Wednesday.
The annual Fast Company list highlights the top 10 most innovative retail companies and features 609 global businesses across 58 categories, including automotive, robotics, consumer electronics, and beauty. Coupang was ranked alongside industry leaders such as J.Crew (1st), IKEA (3rd), and Amazon (8th).
Fast Company credited Coupang’s explosive growth to its robust logistics infrastructure, built over the past 15 years, and the integration of services such as Rocket Fresh, Coupang Play, Wow Membership, and free delivery — all of which drive high customer retention.
A Coupang spokesperson said the company has invested billions of dollars into building an end-to-end technological infrastructure, integrating cutting-edge technologies such as artificial intelligence and robotics. “We deliver millions of products, including fresh groceries, by early morning for orders placed by midnight, and Coupang Eats offers unlimited free restaurant deliveries,” the spokesperson noted.
Harshal Wanjari, Coupang’s head of engineering, added: “Our machine learning and AI systems perform trillions of predictions daily to optimize search, payments, and fulfillment operations. Through these investments, we’ve created a unique model supporting the success of hundreds of thousands of small business partners and tens of millions of customers worldwide.”
Coupang currently holds over 2,100 global patents, tripling its patent portfolio in the past four years. The company was previously named the second most innovative company in the Asia-Pacific region by Fast Company in 2020 and was recently listed in LexisNexis’ 2025 Global Top 100 Innovators.
Meanwhile, Fast Company’s top-ranked retailer this year, J.Crew, made a remarkable comeback from bankruptcy in 2020, achieving record revenue of $3 billion in 2024 through app innovation and product diversification. IKEA ranked third for the success of its customer-driven P2P second-hand marketplace, while Pandora, the world’s largest jewelry manufacturer, and Fast Retailing, parent company of Uniqlo, rounded out the top five.
Lina Jang (linajang@koreabizwire.com)
