Musinsa Surpasses 200 Billion KRW in Sales Last Year... 105% Growth Compared to Previous Year

[Asia Economy Reporter Yujin Cho] Online platform Musinsa announced on the 13th that its sales revenue last year increased by 105% compared to the previous year, reaching 219.7 billion KRW. Operating profit rose by 92% to 49.3 billion KRW.

Musinsa's sales revenue has grown more than sixfold over the past five years, with an average annual growth rate exceeding 45%. Musinsa cited various support activities for tenant brands as the key factor for its sustained growth. With the management philosophy of "co-growth with brands," Musinsa assists tenant companies in many ways, from financial support to product planning, marketing, and sales.

Since 2015, Musinsa has been implementing the "Co-Growth Project," which provides interest-free production funds to tenant brands, expanding its scale annually and supporting over 24 billion KRW cumulatively to date. At the same time, it collaborates with external financial institutions such as KB Kookmin Bank and Honest Fund to offer customized financial services for small and medium-sized tenant companies, including advance payment services and non-supply chain loan products.

Last year, Musinsa directly produced and published an average of about 7,700 brand promotional contents per month, supporting various marketing efforts such as portal site advertisements, social network services (SNS), and influencer promotions. It also operates outdoor electronic billboard advertisements in major Seoul areas such as Gangnam-daero, Dosan Park, and Hongdae, providing these to tenant brands.

Furthermore, Musinsa has entered unusual business fields for an e-commerce platform, creating synergy with its brand business. After opening the shared office Musinsa Studio for creators from various fields including fashion workers in Dongdaemun in 2018, it opened Musinsa Terrace, a fashion culture complex space in Hongdae last September, operating it as a space where customers can directly experience tenant brands.

As of the end of 2019, Musinsa's membership reached 5.5 million, approximately doubling compared to the end of 2018, and the average monthly visitors exceeded 12 million, a 50% increase from the previous year.

Jomanho, CEO of Musinsa, said, "We plan to expand the production fund support amount to 50 billion KRW so that small and large tenant brands can become more competitive and grow together with Musinsa." He added, "We will devote all efforts to expanding brand support projects and strengthening customer service to grow into a fashion platform trusted and supported by both brands and customers."

This content was produced with the assistance of AI translation services.