Musinsa's 'Soldout' Spins Off as Subsidiary 'SLDT'... Secures 10 Billion KRW Investment

[Asia Economy Reporter Seungjin Lee] Musinsa announced on the 25th that it has spun off its limited edition product trading platform 'Soldout' business into its subsidiary ‘SLDT’ and secured an investment of approximately 10 billion KRW from Dunamu.

Soldout is a limited edition sneaker brokerage platform created with Musinsa's expertise and know-how, which was first launched in July 2020. Soldout gained attention by providing a 100% authentic product verification service and content introducing limited edition products.

Soldout, which attracted attention by surpassing 250,000 cumulative application downloads within two months of its launch, has continued a sharp upward trend in the resale market with a monthly growth rate exceeding 120%. Since November last year, it has expanded its product range to include clothing, accelerating its business expansion in the limited edition product market.

Riding on Soldout's growth momentum, SLDT secured an investment of about 10 billion KRW from Dunamu. It is evaluated that as a limited edition product brokerage platform, it has secured stability and reliability, and quickly established itself in the resale market by synergizing with Musinsa Store, which has 8.4 million members.

At the same time, it was highly evaluated for its potential to grow as a market leader leading the popularization of limited edition resale, spearheaded by app features enhancing customer convenience, a thorough verification system, and creative content planning. The investment funds will be used for advancing the Soldout service and marketing activities to expand market share.

Han Moon-il, Head of Musinsa Growth Strategy Headquarters, will concurrently serve as CEO of SLDT.

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