Musinsa Defies Summer Slump — 10 Million Store Visitors, KRW 821.7B H1 Sales
Creatrip Team
19 days ago
Fashion platform Musinsa reported record first-half sales of KRW 821.7 billion (about USD 620 million), a 22.5% year-on-year increase, driven by rapid offline expansion and strong overseas demand. Although summer is usually a slow season, Musinsa opened 12 new stores in Q2 (10 domestic, 2 overseas) and launched flagship spaces like Musinsa Megastore Seongsu, which surpassed KRW 10 billion in sales within 68 days. Musinsa Standard (private brand) stores boosted foot traffic: quarterly visitors exceeded 10 million, up over 66% from a year earlier, and same-store sales rose sharply (41 domestic stores saw a 64% sales jump). Global online stores across 13 countries grew about 143% in Q2, with triple-digit growth in Taiwan, Thailand, Vietnam, and Indonesia; exports jumped ninefold to KRW 37.1 billion. Musinsa is accelerating retail entries in China, Southeast Asia, and plans pop-ups and permanent shops in Japan. Beauty initiatives (e.g., “Muvyfe in Seongsu”) and combined store concepts are expanding revenue streams. Operating profit fell 11.2% to KRW 52.3 billion due to higher costs and investment spending; a net loss was reported mainly from accounting treatment of convertible preferred shares. Musinsa says it will keep blending online and offline experiences and support global growth of partner brands.
