Musinsa Opens Era of 2 Trillion KRW in Fashion Platform Transactions... Achieves Record High Performance Last Year

[Asia Economy Reporter Seungjin Lee] Online fashion platform Musinsa achieved its best-ever performance last year, recording a significant growth rate exceeding 90%.

According to Musinsa on the 13th, the total transaction amount of online fashion platforms operated by Musinsa, including Musinsa, 29CM, StyleShare, and SoldOut, reached 2.3 trillion KRW last year, marking the first time a fashion platform has entered the 2 trillion KRW transaction era.

The background for the transaction amount growing more than 90% compared to the previous year was partly due to Musinsa's steep upward trend. The sales growth of domestic brands popular mainly among those in their teens and twenties, such as DopeJason, Raperz Store, Lee, Mark Gonzales, Yes I See, and Yale, played a significant role. The popularity of luxury, sports and outdoor, and global contemporary brands also drove the increase in transaction volume.

Customer activation indicators also rose overall. The monthly active users (MAU) reached 4 million, and the number of members exceeded 10 million, increasing by about 30% compared to 2020.

This year, Musinsa plans to launch new services for kids and women aged 35-45 to expand its customer base and categories. The luxury, golf sports, and beauty categories, which saw significant growth last year, will strengthen their expertise and actively carry out marketing activities to increase customer inflow.

29CM and StyleShare have been actively promoting brand co-growth by significantly enhancing their support programs for tenant companies since the second half of last year. This year, the strategy is to strengthen service competitiveness by expanding the recruitment of tenant brands that match the tastes and styles of each platform's target audience.

SoldOut, the limited edition market created by Musinsa, has focused on service advancement to increase customer satisfaction in the rapidly growing resale market. Going forward, it plans to expand various categories and brand products such as sneakers, streetwear, luxury, and tech, and increase infrastructure investment to provide a better customer experience.

Musinsa co-CEOs Junggu Kang and Moonil Han said, “We thank the tenant brands that trusted and worked with Musinsa last year and the customers who showed interest in and actively used Musinsa’s services. As a leader in the fashion platform, we will think more about revitalizing the fashion ecosystem and make this year the first year to open global channels for brand fashion, focusing more on overseas business.”

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