Musinsa Confirms Fashion Small Business Support Brand... Cumulative Support Fund of 400 Billion Won

[Financial News] Musinsa announced on the 29th that it has finalized the participating brands of the newly revamped 'Partner Fund Program' to help the growth of small businesses in the fashion sector.
The Partner Fund Program is a complete overhaul of the 'Co-Growth Fund Support Project', which Musinsa has been operating since 2015 as the first in the fashion industry to enable customized financial support according to the growth stage and category of the brand.
The support types are subdivided into △Incubation Partner Fund △Growth Partner Fund △Core Partner Fund, and the operation cycle has been extended.
Musinsa explained that the use of funds has been expanded from being limited to production costs to include marketing, branding, and overall brand operations.
In particular, an incubation program that helps small business brands grow quantitatively and qualitatively by assisting in product planning and marketing is operated in conjunction with the Partner Fund.
Representative brands participating in this Incubation Partner Fund Program include △Copwi △Pokerface △Hoodhood.
These are new small to medium-sized brands that have been launched for less than 5 years, showing growth by quickly expanding their customer base with distinctive designs and unique sensibilities.
Since Musinsa started providing fund support for co-growth with brands entering its platform in 2015, the cumulative support fund has reached a total of 365 billion won to date.
When combined with the support funds provided to brands entering the select shop 29CM (Ishipgu Sentimiteo) operated by Musinsa, it is found to be approaching 400 billion won.
Musinsa plans to expand the brands participating in the program in the second half of the year and support funds amounting to 100 billion won annually this year.
The recruitment of participants will be conducted sequentially according to the program's operation cycle, such as the Growth Partner Fund (June), Core Partner Fund (July), and Incubation Partner Fund (September).

clean@fnnews.com Lee Jeong-hwa Reporter