South Korea's online fashion platform Musinsa's sales exceeded 300 billion won, a year-on-year increase of 51%

According to the latest news, the sales of Musinsa, a Korean online fashion platform and unicorn company, reached 331.9 billion won, an increase of 51% over last year. It is reported that this sales achievement is the result of the increase in new members and the sales growth of settled brands.

Starting with last year’s TV commercials, Musinsa has used aggressive marketing campaigns, such as Black Friday and outdoor festivals , to increase return visits, which has directly led to a surge in sales . In addition to advertising marketing, sales performance of Musinsa Standard , a brand developed by Musinsa itself , has also contributed to the platform’s sales growth.

As of the end of March this year , the number of Musinsa brands has exceeded 6,000, and the number of Musinsa members in 2020 has increased by more than 40% compared with 2019, reaching a total of 8.4 million.

However, Musinsa 's operating profit in 2020 only reached 45.5 billion won, a decrease of 7% from the previous year . This is the result of Musinsa's recruitment of a large number of personnel, expansion of investment to launch new services, and advancement of brand advertising and marketing activities. Last year, Musinsa recruited a large number of professionals across its business, including development, sales, and marketing . Its workforce increased by more than 48% compared to the previous year .

According to Korean media reports, this year Musinsa will aim for 1.7 trillion won in transaction volume and strengthen support activities to maximize sales of brands. In particular, the support rate for outdoor advertising currently operating in three areas of Seoul will be increased to an average of 40% per year for small and medium-sized sellers with annual sales of less than 5 billion won.

" Last year, we actively invested in recruiting talents and effectively carried out TV advertising campaigns in the fashion market troubled by Corona 19, which led to increased sales, " said Cho Man-ho, CEO of Musinsa .

He also said : "Currently , Musinsa's platform occupies a small scale in the Korean clothing market , so this year we will work hard for further growth. In particular, we will focus on strengthening support for settled brands and ensuring flexibility in expanding new product categories and platform functions. "

South Korea

Sales, fashion e-commerce