“Expanding K-fashion’s Footprint in Thailand” ... MUSINSA Teams Up With Local Retailer

[Financial News] MUSINSA is joining forces with a Thai retailer to expand Musinsa Standard’s offline business in the country. This marks its fifth Southeast Asian market entry, following the Philippines, Indonesia, Vietnam and Malaysia.
On the 13th, industry sources said that MUSINSA signed an exclusive distribution agreement on the 4th with Central Marketing Group (CMG), part of Thailand’s Central Retail Brand & Specialty Group (CRBS).
The two companies plan to open Musinsa Standard stores in major commercial districts in Thailand and jointly develop product and marketing strategies that reflect local consumers’ tastes and lifestyles.
CMG is a retailer that operates more than 30 global brands in fashion, beauty and technology. It runs department store outlets, standalone brand shops and online shopping platforms, leveraging Central Retail’s distribution network across Thailand.
MUSINSA plans to bring offline the demand among Thai customers identified through MUSINSA Global and use CMG’s local distribution network and brand management experience to establish Musinsa Standard in the market.
Online sales in Thailand are also growing. In the first half of this year, transaction value from Thailand on MUSINSA Global increased 26% year on year.
A MUSINSA representative said, “Thailand is a market where demand for K-fashion is steadily growing, with transaction value on MUSINSA Global up 26% year on year in the first half of this year. By working with CMG, which has a strong understanding of the Thai retail market and expertise in building and operating brands, we will expand opportunities for Thai customers to experience Musinsa Standard firsthand and make the brand’s growth potential in the local market more tangible.”

[email protected] Kim Hyun-ji Reporter