Musinsa, 33% of Brands with Annual Transactions Over 10 Billion KRW... Expected to Double Next Year

[Asia Economy Reporter Song Seung-yoon] Musinsa announced on the 23rd that it selected the top 100 brands on Musinsa Store based on annual transaction volume and analyzed their growth trends over the past three years, revealing that the annual transaction volume increased by more than 73% in two years.

In particular, the growth of domestic brands was remarkable. Among the 100 brands, the transaction volume of 78 domestic small and medium-sized brands increased by 93.5% compared to 2020. During the same period, global brands grew by 36.3%, and brands led by large corporations that operate both online and offline sales increased their transaction volume by 39.8%.

The sales ceiling of domestic fashion brands, which mainly operate online, is also gradually rising. The proportion of domestic brands surpassing an annual transaction volume of 10 billion KRW increased about 2.3 times from 15% in 2020 to 33% this year. Considering that about 83% of domestic brands achieved transaction volumes exceeding 5 billion KRW, the number of brands exceeding 10 billion KRW in annual transaction volume is expected to more than double next year.

Since 2020, an average of 60 brands have consistently ranked within the top 100 popular brands on Musinsa Store, while new brands have been chosen by customers each year outside of this group.

The growth of domestic online fashion brands is analyzed to have been effectively driven by branding effects that enhanced brand awareness and attractiveness through strategic collaboration with Musinsa Store. By limiting major sales channels to the official website and Musinsa Store, the growth of Musinsa Store directly led to increased sales for the brands, creating a win-win effect. Additionally, Musinsa reports that steady growth continued mainly among brands that focused stably on production and marketing by utilizing the co-growth project production funds, which offer interest-free support.

A Musinsa official stated, "Two to three years ago, there was a strong perception that the sales ceiling for online fashion brands was 10 billion KRW, but thanks to the strong performance of brands on Musinsa Store, the annual sales ceiling is gradually rising," adding, "We will continue to strengthen online sales centered on Musinsa Store and support offline activities so that brands without offline bases can increase customer contact points and experiences."

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