Musinsa Signs Business Agreement with Seoul Business Agency to Support Small and Medium Fashion Brands
[Asia Economy Reporter Seungjin Lee] Musinsa has signed a business agreement with the Seoul Business Agency (SBA) to strengthen the competitiveness of small and medium fashion brands and promote sales.
The signing ceremony was held online with the attendance of Seungjin Lee, Head of Communications at Musinsa, and Jinyeong Yoo, Head of the Seoul Made Project Team at the Seoul Business Agency.
Starting with this agreement, Musinsa and the Seoul Business Agency plan to establish various cooperative systems to activate sales and promotions for small and medium fashion brands. They will discover small and medium fashion brands based in Seoul that showcase excellent products based on unique brand concepts and seek ways to expand contact points with customers in their teens and twenties (1020 customers).
Additionally, they will promote the entry of the public brand ‘Seoul Made,’ launched by the Seoul Business Agency to communicate with the domestic and international MZ generation (Millennials + Generation Z), into the Musinsa store. Musinsa plans to introduce Seoul Made products discovered through collaboration with small and medium enterprises by the Seoul Business Agency and cooperate on content to promote the brand value and fashion style that embody the sensibility of Seoul.
Seungjin Lee, Head of Communications at Musinsa, said, “Musinsa has been promoting various support programs to discover emerging brands and nurture small and medium brands to revitalize the fashion ecosystem. We expect that this business agreement with the Seoul Business Agency will further expand opportunities to grow together with small and medium brands.”
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Meanwhile, based on the management philosophy of ‘co-growth with brands,’ Musinsa is creating a virtuous cycle where the sales increase of tenant brands leads to Musinsa’s growth. They are conducting the ‘Co-Growth Project,’ which lends production funds interest-free for the next season so that tenant brands can focus stably on production and marketing.
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