3 Years After Opening Hongdae 1st Branch in May 2021
Sales from Jan to Jul This Year Increased 3.5 Times Compared to Last Year
Overseas Tourist Sales Also Quadrupled
Musinsa's fashion private brand (PB) 'musinsa standard' announced on the 23rd that its offline stores have surpassed a cumulative total of 10 million visitors. Musinsa standard plans to open additional stores within the year through collaborations with major retailers and is also considering the possibility of expanding overseas.
According to Musinsa, musinsa standard exceeded 10 million cumulative offline store visitors as of the end of July. This milestone was achieved just over three years after opening its first store, 'musinsa standard Hongdae,' in May 2021 at Hongdae Entrance, Seoul.
The appearance of Musinsa Standard Lotte Mall Dongbusan Branch, which opened last May. [Photo by Musinsa]
Looking at this year alone, the number of visitors from January to July reached 5.27 million, showing a 350% increase compared to the same period last year. Notably, the monthly net visitor count exceeded 1 million for three consecutive months from May to July.
As the number of visitors to offline stores increases, related sales are also growing. The cumulative sales from January to July this year increased approximately 3.5 times (250%) compared to the same period last year.
During this period, sales from foreign customers visiting musinsa standard offline stores (duty-free basis) also increased more than fourfold (302%) compared to a year ago. In particular, musinsa standard Myeongdong store recorded that foreign customers accounted for 46% of monthly sales in July, nearly half.
Musinsa standard will accelerate new store openings starting at the end of August. First, on the 29th, it will open its 13th store at Galleria Department Store Gwanggyo Branch, operated by Hanwha Galleria. On the 30th, it will unveil the largest flagship store in Seoul, located in Hannam. The musinsa standard Hannam flagship store spans 1,519.84㎡ (approximately 460 pyeong) from basement level 1 to the 5th floor above ground, and it is the first standalone offline store to utilize the entire building.
A musinsa standard representative said, "Thanks to the strategy of expanding stores in key locations through love calls from major retailers, both visitors and sales are rapidly growing." They added, "Foreign tourists are also showing great interest in the musinsa standard brand in Korea, so we plan to explore various avenues for overseas expansion in the future."
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