Musinsa Secures 13 Billion KRW Investment

Sequoia Capital and IMM Investment Participate
Recognized Corporate Value of Approximately KRW 2.5 Trillion

[Asia Economy Reporter Lim Hye-seon] Online fashion store Musinsa announced on the 16th that it received an additional investment of 130 billion KRW from Sequoia Capital and IMM Investment. This marks a successful follow-up investment round 1 year and 3 months after November 2019.

With this investment, Musinsa was valued at approximately 2.5 trillion KRW. This funding round is the result of Musinsa proving its rapid and continuous growth by becoming the first domestic online fashion platform to surpass 1 trillion KRW in transaction volume. Musinsa explained, "While the fashion industry overall experienced negative growth last year due to COVID-19, Musinsa steadily increased profitability through stable business operations, which played a significant role," adding, "Our capabilities in launching new businesses such as limited edition markets, luxury goods, and women's fashion, as well as the potential for expansion through business model diversification, were highly evaluated."

To strengthen its competitiveness, Musinsa plans to invest the funds in expanding new categories, enhancing logistics systems, and supporting the overseas expansion of partner brands.

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