Brands Entering Musinsa and 29CM
Settlement Payments to Be Advanced and Paid on the 17th
Musinsa announced on the 8th that it will advance the payment of settlement funds to its partner brands ahead of the Lunar New Year holiday.
Musinsa plans to make early payments totaling 113 billion KRW to small and medium-sized partner companies and brands listed on ▲Musinsa Store and ▲29CM (Isipguseonchimeoteo), both operated under Team Musinsa.
Currently, there are over 8,000 brands listed on Musinsa. The number of partner brands listed on 29CM, a women’s fashion and lifestyle specialty select shop, also exceeds 10,000.
Following the decision for early settlement, Musinsa will shorten the usual payment schedule and plans to pay the funds on January 17. This is expected to help the management of partner brands facing difficulties in cash flow amid concerns over inventory burdens caused by weakened consumer sentiment and abnormal weather conditions.
A Musinsa representative stated, “Ahead of the Lunar New Year, when cost demands increase due to employee salaries and raw material payments, we decided to advance the settlement payments to ease the burden on our partner brands. We will continue to pursue various collaborations to coexist with domestic small and medium-sized brands.”
Meanwhile, Musinsa has also been providing interest-free production funds to small and medium fashion brands. Since the support program began in 2015, the total amount of support has surpassed 350 billion KRW as of the end of 2024.
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