Park Joon-mo, chief executive officer (CEO) of South Korean fashion platform Musinsa Co. holds a press conference at Dongdaemun Design Plaza in Seoul on June 10, 2025. (Image courtesy of Yonhap)
SEOUL, June 10 (Korea Bizwire) — Musinsa Co., a South Korean fashion platform, said Tuesday it plans to open offline stores in China and Japan in the coming months as part of its global expansion strategy.
The company currently offers around 8,000 South Korean fashion brands on its online platform and operates several offline stores domestically.
Of the 8,000 local brands, some 2,000 also sell products through Musinsa Global, the company’s English-language platform targeting 13 strategic Asian markets, excluding China.
Domestically, Musinsa operates 25 “Musinsa Standard” outlets that sell its private-label products, as well as three “Musinsa Store” locations featuring partner brands.
“We plan to open at least two stores in China, starting with the first in Shanghai in the fourth quarter, and up to three stores in Japanese cities, such as Tokyo, Osaka and Nagoya, early next year,” Musinsa Chief Executive Officer (CEO) Park Joon-mo said in a press conference.
In addition to its 13 overseas markets, the company is looking to enter China, Europe and the Middle East. It is also exploring partnerships with local companies for logistics and sales networks, Park said.
“K-culture has gone mainstream, and unlike in the past, there are new responses and opportunities for K-fashion items. Now is the right time for Korean fashion brands to expand globally,” he said, noting that the country still lacks a major global success story in fashion.
Musinsa plans to offer its partner brands a comprehensive “one-stop” service covering marketing, logistics and local operations in overseas markets.
The company aims to increase the number of brands on Musinsa Global to 8,000 by the end of this year amid rising global demand for K-fashion products, including shoes and miscellaneous goods.
Leveraging expanded partnerships and increased demand, Musinsa has set a target of reaching 3 trillion won (US$2.2 billion) in overseas gross merchandise volume (GMV) by 2030, in addition to its domestic sales.
Overseas GMV reflects purchases made by foreign customers, while domestic GMV refers to purchases made by customers in South Korea.
In 2024, Musinsa’s overall GMV reached 4.5 trillion won, generating an operating profit of 102.82 billion won.
Asked about fundraising plans for its global expansion, Park said, “A sizable investment is needed to build logistics infrastructure in the domestic market. An IPO will be a key milestone in our fundraising efforts.”
Musinsa plans to appoint a lead manager for its initial public offering (IPO) process in the near future, he added, without elaborating.
(Yonhap)
