MUSINSA announced on the 27th that it will establish a joint venture, MUSINSA China, with Anta Sports, the largest global sportswear corporation in China, and conduct a joint investment. This transaction is expected to be completed by the end of September, following the approval procedures from local regulatory authorities.
This partnership was pursued as MUSINSA and Anta Sports' interests align in expanding their influence in the Chinese market. MUSINSA will hold 60% of the equity in the joint venture, making it the largest shareholder, while Anta Sports will hold the remaining 40% equity.
MUSINSA China is expected to lead MUSINSA Standard and MUSINSA Store's online and offline businesses within the Chinese market. Anta Sports will also perform strategic and financial management roles through the joint venture board.
Anta Sports is the largest local sportswear group in China that is successfully implementing a multi-brand strategy. It has developed a diverse brand portfolio, including sportswear, athleisure, and lifestyle sportswear, leveraging its expertise to cover both premium and mass markets comprehensively.
Anta Sports representative Wu Yonghua said, "Based on the brand and retail integration capabilities Anta Sports has demonstrated in the sportswear industry and the value chain expertise across the entire sportswear industry, MUSINSA China will successfully introduce MUSINSA Store and MUSINSA Standard into the Chinese market. We will fully support the provision of differentiated products for the style-sensitive younger generation."
MUSINSA representative Park Jun-mo said, "Through this collaboration, we expect that MUSINSA's fashion industry experience combined with Anta Sports' strong brand management capabilities will offer Chinese consumers diverse distribution channels and brand experiences," and noted, "We will attract more attention from young consumers in the vibrant Chinese market."