KB News Desk
Musinsa said Monday it has posted record first-half earnings with 821.7 billion won ($598.4 million) in consolidated sales, up 22 percent from the same period last year, as the Korean fashion retailer saw both its online and offline businesses grow at home and abroad.
According to Musinsa, it logged 65.7 billion won in operating profit on a stand-alone basis during the January-to-June period this year, up 13.1 percent on year.
In the second quarter alone, Musinsa opened 10 new stores across Korea and two overseas footholds in China.
Sales at 41 Musinsa Standard stores nationwide rose 64 percent from a year earlier while quarterly foot traffic across its offline locations exceeded 10 million for the first time.
Musinsa Mega Store Seongsu, which opened in April, generated cumulative sales of 10 billion won within 68 days. Foreign customers accounted for about 44 percent of the total sales at the Seongsu store.
Musinsa Kicks, its sneaker-focused select shop, drew more than 1 million accumulated visitors to its Hongdae and Seongsu locations within eight months of opening.
International sales also gained momentum. Musinsa said the quarterly transaction volume across 13 markets including Japan, the United States and Thailand increased more than 143 percent from the second quarter last year while the sales in Taiwan, Thailand, Vietnam and Indonesia more than doubled.
Thanks to the upbeat performance overseas, Musinsa’s first-half exports also jumped more than ninefold from the April-to-June period last year to reach 37.2 billion won.
The company said it will keep expanding its offline presence further in the second half. It plans to open Musinsa Beauty stores in Hongdae and Seongsu in the third quarter, followed by Musinsa Standard and Musinsa Beauty stores in Jeju in the fourth quarter.
Musinsa will host a large-scale pop-up in Osaka in October featuring more than 80 brands, with a permanent store planned for 2027. It will also launch Musinsa Store and Musinsa Standard outlets in Shenzhen, China.
“New offline spaces gained traction with customers in the first half while rising overseas demand translated into tangible business results,” a Musinsa official said.
“We will continue to support the global growth of our partner brands in the second half and do our best to offer fashion shopping experiences that bridge online and offline channels.”
