The transaction volume in the first half of the year increased by 40% year-on-year, and the Korean fashion platform Musinsa grew rapidly

At present, the online fashion industry in South Korea is still in a state of disarray, and a dominant e-commerce platform has not yet emerged. However, even in the fiercely competitive online fashion industry in South Korea, Musinsa is still one of the largest fashion e-commerce platforms in South Korea.

According to Korean media reports, the Korean online fashion platform Musinsa has seen a significant increase in the first half of the year compared to last year. Data shows that the transaction volume of the Musinsa platform from January to June this year increased by about 40% compared with the same period last year .

Small and medium-sized brands with annual sales of less than 1 billion won last year saw their average sales increase by more than 70% in the first half of this year compared to the same period last year. For new brands that have been sold in Musinsa stores in the past two years , sales increased by 63% in the first half of this year compared to the same period last year .

Thanks to strong earnings in the first half of the year, Musinsa plans to continue its growth in the second half of the year. It plans to further strengthen activities such as marketing cooperation, infrastructure provision and financial support so that sellers can steadily develop their brands.

" We will strive to maximize sales at our stores by offering various benefits and opportunities to increase customer satisfaction with shopping, such as brand exhibitions, seasonal events, Musinsa Live and Black Friday, " said Han Wenyi , co -CEO of Musinsa .

In order to provide Musinsa's consumers with more colorful fashion content, Musinsa said that it will continue to focus on discovering new brands, expanding fashion categories and expanding new businesses in the second half of this year .

When Musinsa announced the good news, its competitor ZigZag also received good news. ZigZag 's original parent company Croki.com and Kakao finally completed the merger and officially launched the new name " Kakao Style " today. ZigZag will continue the service name, while Kakao Style will change its service name to Fashion by Kakao.

It is reported that Kakao Style, which has been merged into Kakao , has received 100 billion won in funds from its parent company Kakao and is preparing to expand its business , expanding its business power that leads the entire industry innovation to all areas of fashion such as beauty and life , with the intention of making ZigZag a representative Korean fashion platform with an annual transaction volume of nearly 1 trillion won .

Faced with the huge potential of South Korea's online fashion market, it is conceivable that competition among e-commerce platforms will be very fierce.

South Korea

E-commerce

Fashion