Musinsa Reports 40% Increase in First Half Transaction Volume Compared to Same Period Last Year

[Asia Economy Reporter Lim Hye-seon] Online fashion platform Musinsa announced on the 1st that its transaction volume in the first half of the year increased by 40% compared to the same period last year. Sales of domestic brands such as Thisisneverthat, Anderson Bell, Insilence, Covernat, and Koor increased.

According to Musinsa, small and medium-sized brands with sales under 1 billion won last year saw their sales in the first half of this year increase by an average of more than 70% compared to the same period last year.

Sales of newly registered brands that started selling on the Musinsa Store within the last two years also increased by 63%.

Riding on the strong performance in the first half, Musinsa plans to continue its growth trend through the second half of the year. It will further strengthen activities such as marketing collaboration, infrastructure provision, and financial support to help partner brands develop stably.

First, to reduce the shipping cost burden for partner brands selling low-priced products, the subsidy payment system will be expanded. Shipping costs will be supported up to 1,000 won for products priced at 25,000 won or less. Additionally, considering the fashion industry's characteristic of preparing new products one season ahead, a co-growth project fund and trend education program will be implemented for partner brands preparing for the next spring and summer season.

Kang Jeong-gu, co-CEO of Musinsa, said, “In the second half of the year, we will advance AI technology to offer refined personalized services based on preferred brands, items of interest, and shopping activities.” He added, “We will increase touchpoints between partner brands and customers in more diverse ways, such as search services specialized in brand fashion, real-time ranking showing popular products, brand and product recommendations based on preference analysis, and suggestions for coordination and content.”