Musinsa said on the 9th that within 100 days (Sept. 19–Dec. 27) of entering the Chinese market, its combined online and offline cumulative gross merchandise value (based on shipments) surpassed about 10 billion won and came to 11 billion won as of Dec. 31.
This performance was driven by synergy between online and offline channels. On Tmall, the total transaction amount for Musinsa Standard and Musinsa Store expanded more than ninefold from about 500 million won in September to 4.4 billion won in December.
Starting with the opening of the Shanghai store in December, the combined transaction amount for online channels also hit a record high. In particular, after Musinsa Store Shanghai Anfu Road opened, the transaction amount of the Tmall Musinsa Store more than doubled month over month (107%), setting an all-time monthly record. More than 85% of buyers were Millennials and Gen Z, and it is analyzed that a virtuous cycle quickly formed in which China's young generation, sensitive to K-fashion trends, translated their offline store experiences into online purchases.
The product strategy linking online and offline is also generating clear synergy. Musinsa Standard's bestseller "City Leisure Hooded Light Down Jacket" ranked No. 1 in sales at the Tmall Musinsa Standard flagship store and also took an overwhelming No. 1 by sales volume at offline stores. Musinsa is maximizing cross-channel effects by actively using online data for VMD (visual merchandising), concentrating proven-demand products in front glass showcases in stores.
The recently opened offline stores are also drawing many visitors. Musinsa's first overseas stores, "Musinsa Standard Shanghai Huaihai Baisheng" and "Musinsa Store Shanghai Anfu Road," surpassed a combined cumulative 100,000 visitors as of Dec. 31, 26 days after opening including the soft-opening period. During the same period, offline transaction amounted to more than 1 billion won.
In particular, Musinsa Store Shanghai Anfu Road is serving as a bridgehead for partner brands to enter overseas markets. Domestic designer brands ▲ Sculptor ▲ Weekendrs ▲ Fasadepattern, among others, ranked at the top of sales on Musinsa Store China both online and offline, expanding their contact points with China's younger consumers.
Musinsa plans to maintain its early momentum by accelerating the expansion of its offline business. It will open an additional store in March at Shinsegae Shinwan Center (formerly Shinsegae Daimaru) on Nanjing East Road in Shanghai, and in the first half will expand its base to cities outside Shanghai, including Hangzhou. In the mid to long term, it aims to increase the number of stores in China to more than 10 by 2026 and to a total of 100 by 2030.
A Musinsa official said, "Based on sophisticated data analysis of the Chinese market, we rolled out localized strategies such as store openings and product mixes, achieving meaningful results in a short period," and added, "Going forward, we will further advance integrated online-offline operations based on Chinese consumer trends with a strong interest in K-fashion and build a sustainable growth model in the Chinese market."