Musinsa Standard’s First-Half Exports Triple From Last Year as Global Expansion Accelerates

[Financial News] MUSINSA’s private-label brand, Musinsa Standard, is accelerating its push into overseas markets.
According to industry sources on the 3rd, Musinsa Standard’s overseas sales reached 5.786 billion won in the first half of this year, up 196% from 1.95 billion won in the same period last year. During the same period, domestic sales totaled 260.2 billion won, a 34% increase from a year earlier.
Unlike in Korea, where Musinsa Standard has established itself as a major specialty retailer of private-label apparel, the brand remains in the early stages of its overseas expansion and continues to grow rapidly. It is sold mainly through MUSINSA Global Store, and began its offline expansion in China late last year. The company currently operates three stores in Shanghai and one in Hangzhou, and plans to open additional stores in other regions, including Shenzhen, by the end of the year.
Japan, the first overseas market entered by MUSINSA, has delivered the strongest results. Musinsa Standard’s transaction value in Japan increased sevenfold year on year in the first half, while China, which followed with an offline launch, is also growing rapidly. Sales in China have risen to a level similar to that in Japan, with the two countries accounting for most of the brand’s overseas sales.
Musinsa Standard is also helping expand exposure to K-fashion brands on the MUSINSA platform. As of last month, more than 40% of first-time customers at MUSINSA Global Store Japan purchased Musinsa Standard products, making the brand a gateway to K-fashion. At the same time, 61% of customers who purchased Musinsa Standard also bought products from other brands, suggesting that the brand encourages interest in them. At a pop-up event held in Tokyo’s Harajuku last August, Musinsa Standard’s key products ranked among the top sellers.
Building on its performance in Japan and China, Musinsa Standard is expanding into Southeast Asia. After opening its first store in the Philippines in November, the company plans to enter the offline markets of Indonesia, Malaysia, and Vietnam next year. In Korea, it also plans to expand its reach to areas outside the capital region, including Jeju Province and Gwangju, increasing the number of stores to 50.
An industry source said, "K-fashion’s standing is rising as Musinsa Standard enters a stage of growth as a competitive K-fashion brand in global markets. More brands seeking to expand overseas are expected to emerge as well."
[email protected] Reporter Kang Myeong-yeon Reporter