Fashion and living platform 29CM by Musinsa said on the 4th that it surpassed 1 trillion won in annual transaction volume this year.
As of Oct. 29 this year, 29CM's annual transaction volume exceeded 1 trillion won. That is a month faster than last year. Compared with 2021, when it was acquired by Musinsa, transaction volume has grown more than threefold. The compound annual growth rate over the past four years was 40%.
The company said growth in the women's fashion category was decisive. After being acquired by Musinsa, 29CM strengthened collaborations with domestic women's designer brands and rolled out various brand support policies, boosting competitiveness in the women's fashion category.
Since last year, it has expanded partnerships with established and global brands. As of the end of October this year, the number of domestic women's brands on 29CM with annual transaction volume exceeding 5 billion won increased more than elevenfold compared with 2021.
The home category has also emerged as a key growth driver for 29CM. Transaction volume for the lifestyle category "Igu Home" rose 40% year over year as of the end of October this year. In addition, Igu Home Seongsu, a lifestyle select shop that opened in June, reached 400,000 cumulative visitors in four months.
It is also growing the beauty and kids categories. The beauty category more than doubled year over year as of the end of October. In August, it opened the kids select shop "Igu Kids Seongsu" in Seongsu-dong, Seoul.
A 29CM official said, "As a platform that accurately understands the tastes of women customers aged 25 to 39, we will further accelerate growth in the home, beauty, and kids categories, including women's fashion."