MUSINSA's Transaction Value in Taiwan Surges as It Accelerates Expansion into Greater China

[Financial News] MUSINSA is accelerating its push into the Taiwan market on the back of strong growth in the region.
According to MUSINSA on the 21st, transaction value at the MUSINSA Global Store in Taiwan grew 340% year on year from the beginning of this year through the middle of this month. Women's fashion accounted for the largest share, representing 41% of total transaction value.
The growth is attributed to rising interest not only in Korean food and beauty products but also in K-fashion, as the number of tourists visiting Korea has increased recently.
Reflecting the growing interest in K-fashion, MUSINSA is showcasing popular brands and products in real time. In Taiwan, K-fashion brands such as ILLIGO, RECLOW and Musinsa Standard are gaining popularity. In particular, ILLIGO has seen its transaction value increase more than tenfold from the same period a year earlier.
MUSINSA is accelerating its expansion into Taiwan to meet growing local demand. It established a Taiwan office last July and created a dedicated team to pursue a localization strategy. The company aims to open 15 Musinsa Standard stores over the next five years.
MUSINSA is also stepping up efforts to expand its business in Greater China, including Taiwan. Starting with a store in Shanghai at the end of last year, it has increased the number of stores in China to five. In Southeast Asia, the company plans to expand into more countries, beginning with the Philippines by the end of this year and then moving into Indonesia, Malaysia and Vietnam.
A MUSINSA representative said, "We will leverage MUSINSA's platform capabilities to help domestic fashion brands expand opportunities to connect with new customers in East Asia."
[email protected] Kang Myeong-yeon Reporter