Musinsa Beauty’s Private Brand "Oddtype" Breaks into U.S. Offline Distribution Network
Pushing for Entry into U.S. Offline Retail in July
Targeting North America After Japan and Southeast Asia
Musinsa Beauty Achieves 50% Growth in Transaction Volume
Musinsa is set to target the U.S. offline market with its own beauty brand (private brand), Oddtype. Following its expansion into Japan and Southeast Asia, the company is accelerating the growth of its global business by entering local distribution channels in the United States.
According to industry sources on June 19, Oddtype, Musinsa Beauty’s makeup brand, has confirmed that it will be available in U.S. offline retail channels starting in July. Musinsa, which is nurturing its beauty business as a new growth engine beyond its fashion platform, is seeking to expand its overseas market influence through its private brand.
Oddtype is a makeup brand that Musinsa launched in April 2023. After entering Japan’s largest lifestyle select shops, Loft and Plaza, last October, Oddtype expanded its sales network by securing placements in major Southeast Asian countries, including Malaysia, Singapore, and Thailand.
Oddtype has also confirmed its potential in the U.S. market. The brand recently participated in the K-beauty pop-up event “Song of Skin” held in New York, attracting more than 10,000 cumulative visitors. Song of Skin is a K-beauty commerce platform in the United States that introduces a variety of Korean beauty brands to local consumers. Industry insiders believe that the success of this pop-up event served as a stepping stone for Oddtype’s entry into the U.S. offline distribution network.
Musinsa's strong focus on the beauty business is driven by rapid growth. Musinsa Beauty’s annual transaction volume last year reportedly increased by about 50% compared to the previous year.
Industry experts view Oddtype’s entry into the U.S. as part of Musinsa's strategy to diversify its business portfolio. While the fashion platform business has reached a mature stage, beauty is an emerging business area that Musinsa is actively cultivating. Achieving results in overseas markets with its private brand would allow the company to secure brand business revenue in addition to its platform commission-driven profit structure.
In particular, Oddtype serves as Musinsa Beauty’s flagship brand. The private brand is designed to attract consumers and drive sales growth for indie brands available on the platform.
An industry insider commented, “As global interest in K-beauty continues to rise, platform companies with their own brands are increasingly expanding overseas. Oddtype’s entry into the U.S. offline market will be a symbolic example of Musinsa expanding its business domain from fashion to a global beauty platform.”
Hot Picks Today
"Wow, This Is Addictive": Justin Bieber's Wife Raves About 'Ddungbaratte'... Foreign Tourists Flock to K-Convenience Stores [K-Holic]
- "Exorbitant Food Prices" Beer Costs 30,000 Won per Glass... Locals Outraged Over Record Price Gouging at the World Cup [Current Affairs Show]
- "With 6.6 Trillion Won in Funds Secured"...'Chinese Samsung and SK Hynix' Listing Imminent, Will Chinese Semiconductors Benefit? [Weekend Money]
- "My Income Has Increased, So Why Do I Feel Worse Off?"... The Middle Class Didn't Collapse, It Moved Upward [Weekend Money]
- "Getting Your Hair Pulled and Kicked Is Routine... '9 Inmates Packed into 5 Pyeong' Cheongju Women's Prison, the Reality of Sweltering Heat [Reportage]"
A Musinsa Beauty representative stated, “It is true that we are in discussions to enter U.S. offline distribution channels. We plan to continue presenting new possibilities for K-makeup and drive brand growth in overseas markets through a variety of global channels.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.