LF and Musinsa Escalate Competition in Fashion Resale
Creatrip Team
3 months ago
South Korea’s fashion resale market is shifting from peer-to-peer trading to corporation-led recommerce, as brands and platforms build services that collect, inspect, and resell used items while rewarding sellers with store credit. LF launched its brand-focused platform “El Market” (엘리마켓) in September, handling pick-up, inspection, and sales, and paying users in points called “El Reward” (엘리워드) that can be spent on LF’s online mall — a mechanism that creates customer lock-in; 73% of those points are being spent. Musinsa’s platform “Musinsa Used” (무신사 유즈드) similarly manages pick-up, photography, inspection, listing, and delivery, and uses automated inspection and pricing tools. Musinsa reported a 234% month-on-month rise in transaction value and large increases in seller registrations and buyers. The industry says digitized logistics and growing values-driven consumption have made corporate-run resale more trusted and convenient, turning resale into a “recovery mechanism” that brings consumers back to brands and platforms.
