Musinsa Nears 1 Trillion Won in Annual Sales... Double-Digit Growth Continues

Cumulative Operating Profit Reaches 70.6 Billion Won in Q1-Q3, Up 20.1% Year-on-Year
Cumulative Sales Hit 973 Billion Won, On Track to Surpass 1 Trillion Won in Annual Sales for Second Consecutive Year
"Focused Investment in Global Expansion... 2026

Musinsa is expected to surpass 1 trillion won in annual sales for the second consecutive year, following last year’s achievement. Despite weakened consumer sentiment externally, the company maintained steady growth both online and offline, resulting in double-digit growth in both cumulative sales and operating profit through the third quarter of this year.

According to Musinsa on the 25th, consolidated operating profit for the third quarter of this year was 11.8 billion won, up 7.3% from the same period last year. Sales during the same period reached 302.4 billion won, an increase of 11.8%. Net loss for the period was 14.5 billion won, which the company attributed to a change in accounting policy that now recognizes redeemable convertible preferred shares (RCPS) as liabilities. The company explained that this reflects interest expenses on the books and is unrelated to actual cash outflow.

Cumulative operating profit through the third quarter was 70.6 billion won, up 20.1% from the same period last year. Cumulative sales during the same period reached 973 billion won, an increase of about 19% compared to last year’s 819.6 billion won. At this pace, Musinsa is virtually certain to surpass 1 trillion won in annual sales for the second year in a row.

This achievement is attributed to balanced growth both online and offline, despite the fashion industry’s off-season (July to September) and subdued consumer sentiment. In the third quarter of this year, Musinsa expanded its offline presence by opening new stores, including Musinsa Standard The River Mall Gangdong, Musinsa Standard Starfield Market Ilsan, 29CM Igukids Seongsu, and 29CM Igu Upperstrophy Seongsu. In addition, through its specialized brand distribution subsidiary, Musinsa Trading, the company launched official offline stores in Korea for global fashion brands such as Undercover and Y-3.

The company also made aggressive investments to target the global fashion market. In September, Musinsa opened a Musinsa Standard flagship store on Tmall, China’s largest B2C e-commerce platform, and in October, launched the official Musinsa Store mall. In anticipation of the Tmall launch, Musinsa pre-stocked inventory locally in China and began its online business by participating in the “Singles’ Day” shopping festival for about a month starting in mid-October. Next month, the company plans to further target the offline market by opening the first overseas Musinsa Standard store in Shanghai, as well as introducing the “Musinsa Store Shanghai” select shop featuring K-fashion brands.

Musinsa also invested to expand its influence in Japan, another key global market. Last month, the company held a three-week pop-up store in Shibuya, Tokyo, showcasing more than 80 Korean brands. In addition, Musinsa increased support for system development and operations to collaborate with Zozotown, Japan’s largest fashion e-commerce platform, which it integrated with earlier this month. As a result, Musinsa’s cumulative fashion exports in the third quarter of this year more than tripled compared to last year.

Musinsa CEO Park Junmo said, “The third quarter was a period to conserve strength ahead of the year-end shopping season, stock up on FW season inventory, and focus on investments to prepare for global expansion. With the opening of Musinsa’s first global offline store in Shanghai this December, we will lay the groundwork to make next year the inaugural year for our overseas expansion.”

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