Musinsa said the Musinsa Megastore Seongsu, which opened in Apr., is delivering results on the back of an influx of foreign tourists.
Musinsa said on the 17th that the cumulative transaction amount over 50 days (Apr. 24–June 13) since the Megastore Seongsu opening exceeded 7 billion won.
Foreign purchases during the period totaled about 3 billion won, accounting for more than 40% of the overall transaction amount. Over the past seven days (June 7–13), the foreign purchase share averaged 56%, and on the 9th it climbed to 66%.
Musinsa is strengthening online–offline linked marketing to draw foreign customers who visit its offline stores into membership in the global store.
It offers a welcome gift to members who join the global store and provides additional discounts to customers who verify their passports. Scanning a product QR code in the store allows customers to view translated product information and reviews in their own language.
Alongside the increase in foreign visitors to offline stores, growth in the global store also continued. During the same period, the transaction amount of the Musinsa global store rose 81% from a year earlier, and the number of new members roughly doubled.
Brand-by-brand sales data showed overseas customer demand for the beauty category as well. Musinsa's in-house beauty brand WHIZZY and the color contact lens curation platform PONPISH saw higher foreign purchase shares than domestic ones.
Musinsa Megastore Seongsu is a large multi-brand select shop of about 2,000 pyeong that opened on Apr. 24. The building spans basement level one to basement level four and houses more than 1,000 brands. In addition to fashion and beauty, it is configured as a space that combines F&B and content.