MUSINSA to End 'Soldout' Operations at Year-End and Integrate It into 'MUSINSA USED'

[Financial News] MUSINSA will operate its limited-edition trading platform 'Soldout' through the end of the year and integrate its fashion recommerce (secondhand trading) business into 'MUSINSA USED.'
According to MUSINSA on the 1st, it will officially end the Soldout service on December 31. As the consumer-to-consumer (C2C) market for limited-edition products contracts, the company plans to focus its capabilities on MUSINSA USED, which centers on secondhand fashion trading. MUSINSA USED has grown rapidly since its launch in August last year.
MUSINSA plans to apply the operational and management expertise accumulated through Soldout to MUSINSA USED and build a recommerce platform spanning Korean designer brands and limited-edition products from global brands. Earlier, MUSINSA absorbed and merged its subsidiary SLDT, which operated Soldout, last year to improve operational efficiency.
MUSINSA will consider retaining the employment of Soldout's service operations staff within its platform and recommerce organizations, taking their expertise and experience into account. Even after the service ends, it will continue handling customer inquiries from users and partner companies.
MUSINSA aims to reorganize its recommerce business around MUSINSA USED and contribute to building an ecosystem for secondhand fashion trading and a circular economy, moving beyond limited-edition resale.
A MUSINSA official said, "This is a strategic decision aligned with the trend of creating new value through secondhand products, moving beyond transactions involving a small number of limited-edition items," adding, "We will pursue sustainable growth through selectivity and focus in the recommerce sector."
[email protected] Kang Myeong-yeon Reporter