Adieu 2025: Musinsa Targets Decacorn Status, Expands Locally and Globally
Creatrip Team
3 months ago
Musinsa, the leading Korean online fashion retailer, is building momentum toward a 'decacorn' (startup valued over 10 trillion KRW) ahead of its planned IPO by strengthening sales and expanding offline presence domestically and abroad. Despite a weak fashion sector, Musinsa reported cumulative sales of 973 billion KRW through Q3 (up 18.7% year-on-year) and operating profit of 70.6 billion KRW (up 20.1%), and expects annual revenue above 1 trillion KRW for a second consecutive year. The company has broadened categories into beauty and living, reinforced its hometown footprint in Seongsu-dong—where subway signage now includes “Musinsa Station” near Seongsu Station—and opened a large megastore and Musinsa Standard shop in Yongsan. Musinsa also entered Shanghai with Musinsa Standard and Musinsa Store locations as part of a strategy to accelerate global expansion and build a sustainable growth base. Musinsa selected Korean and foreign banks, including Korea Investment & Securities, KB Securities, Citi, and JP Morgan, as lead and joint underwriters for its IPO, with market valuation estimates reaching up to 10 trillion KRW.
