MUSINSA Beauty strengthens online-offline synergy... transaction value surges threefold

[Financial News] Transaction value during MUSINSA BEAUTY's large-scale online and offline beauty festival, the 'Musinsa Beauty Festa,' more than tripled.
According to MUSINSA on the 25th, 800 brands took part in the two-week online Musinsa Beauty Festa, which ran from the 10th, while 64 brands joined the four-day 'Musinsa Beauty Festa in Seongsu' held across Seongsu-dong, Seoul, from the 20th.
A total of about 31,000 people visited the 'Musinsa Beauty Festa in Seongsu' over the four days. During the event, the number of beauty customers at Musinsa Megastore Seongsu rose 98% from the previous week. The share of store visitors who purchased beauty products also doubled.
Online transaction value also grew. The transaction value of beauty brands participating in the online Musinsa Beauty Festa increased 3.5 times year on year. Compared with the previous period, it rose 150%.
The online transaction value of brands that joined the 'Musinsa Beauty Festa in Seongsu' also increased 226% from the previous period.
Barryway, an inner beauty brand that showcased collaborative products combining fashion and beauty, saw its transaction value jump 36-fold from the previous period. FEEV and Rom&nd also posted gains of 942% and 269%, respectively, over the same period.
Emerging beauty brands also delivered strong results. Among the 20 'Rising Beauty' brands selected by the Ministry of SMEs and Startups and Cosmax, the online transaction value of 14 existing partner brands rose 186% year on year. With the performance of six newly added brands, total transaction value for Rising Beauty surged 790%.
MUSINSA Beauty plans to open a new store in Hongdae next month and further strengthen its online-offline integration.
A MUSINSA official said, "We are expanding MUSINSA Beauty's brand competitiveness and content planning capabilities, which we have built online, into offline channels," adding, "We will continue to broaden the new shopping experiences unique to MUSINSA Beauty."
[email protected] Kang Myung-yeon Reporter