Musinsa Store Hongdae Achieves Cumulative Transaction Amount of 10 Billion KRW... 1 Million Visitors

Cumulative Transaction Amount Surpasses 10 Billion KRW by September This Year
Store Visitors Also Exceed 1 Million

Musinsa announced on the 30th that its offline select shop 'Musinsa Store Hongdae' has surpassed a cumulative transaction amount of 10 billion KRW within just nine months this year.

According to Musinsa, Musinsa Store Hongdae records an average monthly transaction amount of over 1 billion KRW. In particular, in June, it achieved a monthly record with approximately 1.5 billion KRW in transactions. The number of visitors to Musinsa Store Hongdae in 2024 has also exceeded 1 million.

Musinsa Store Hongdae Exterior.
[Photo by Musinsa]

Musinsa cited the secret to its success as the ability to explore online-based fashion brands not through a mobile app but in an offline space. Musinsa Store Hongdae houses over 150 brands featuring various styles such as street, casual, formal, and sports. Musinsa carefully selected brands by reflecting the demands and preferences of target customers who frequently visit the Hongdae area, based on data analysis accumulated from its online platform.

Additionally, it is advantageous that the official retail prices and discounted prices are the same both online and offline, and Musinsa members can receive extra benefits such as tier-based discounts and the use of reward points.

At Musinsa Store Hongdae, designer brands such as Standoil, Elmood, Pallet, Odor, and Type Service are gaining great popularity. Among footwear products, brands like Dr. Martens, Red Wing, UGG, and OOFOS are also drawing attention.

In February this year, the designer brand Elmood held a pop-up launch for its 2024 SS (Spring/Summer) collection, and in March, a pop-up was exclusively held for collaboration products between the famous Japanese artist Takashi Murakami and BLACKPINK.

The growing number of foreign customers, driven by the popularity of K-fashion in the global market, has also influenced the success of Musinsa Store Hongdae. Foreign customers accounted for more than 36% of the cumulative transaction amount from January to August this year. In August, the number of foreign customers shopping at Musinsa Store Hongdae increased more than threefold compared to January.

Musinsa’s other offline select shops outside Hongdae are also thriving. 'Musinsa Store Daegu,' which opened last year in Dongseong-ro, Daegu, is expected to reach a cumulative transaction amount of 10 billion KRW within one year by October this year. 'Musinsa Store Seongsu@Daerim Warehouse,' launched on the 13th of this month in Seongsu-dong, Seoul, surpassed 1 billion KRW in transactions within just half a month of opening.

A Musinsa representative said, "Operating shop-in-shops that focus on brands and providing new sales channels for brands, along with continuous new shopping experiences such as various collaboration projects and pop-up stores, have been the main factors behind our popularity." They added, "We will continue to develop the space as a place that promotes the status of K-fashion to customers interested in the latest fashion, including university students, office workers in their 20s and 30s, and foreigners, considering the regional characteristics of Hongdae."