Musinsa Achieves Record First-Half Sales of 821.7 Billion Won... Exports Surge Ninefold

Musinsa Standard Sales Surge 64%

Global Store Transactions Soar by 143%

Standalone Operating Profit Reaches 65.7 Billion Won, Up 13.1%

Musinsa continued its double-digit sales growth in the first half of this year, recording its highest-ever results for a half-year period. Expansion of offline stores and the growth of its global business were the main drivers behind the company’s top-line growth.

On August 31, Musinsa announced that its consolidated sales for the first half of 2026 reached 821.7 billion won, marking a 22.5% increase compared to the same period last year (670.5 billion won). On a standalone basis, sales rose by 30.0% to 784.7 billion won. In the second quarter alone, consolidated sales were 458.1 billion won and standalone sales were 449.7 billion won, up by 21.3% and 34%, respectively.

Musinsa Company Logo. Musinsa

Profitability improved on a standalone basis. Standalone operating profit for the first half was 65.7 billion won, an increase of 13.1% year-on-year. However, consolidated operating profit came in at 52.3 billion won, down 11.2%. Musinsa explained that this was due to rising costs of goods sold, increased freight and commission expenses stemming from higher transaction volume, and proactive investments in global business, logistics, and AI talent.

The first-half net loss reached about 15.6 billion won. Musinsa explained that this was due to accounting interest expenses incurred from recognizing redeemable convertible preference shares (RCPS) as liabilities, which does not result in any actual cash outflow.

The offline business is also expanding rapidly. In the second quarter, Musinsa newly opened a total of 12 stores—10 in Korea and 2 overseas. For the 41 domestic Musinsa Standard stores, transaction volumes in the second quarter increased by 64% compared to the same period last year, while the number of visitors rose by more than 66%, surpassing the 10 million quarterly mark for the first time.

The Musinsa Megastore Seongsu, which opened in April, posted cumulative sales of about 10 billion won within just 68 days of opening. In the second quarter, foreign customers accounted for approximately 44% of total transactions. The sneaker curation shops Musinsa Kicks in Hongdae and Seongsu recorded over 1 million cumulative visitors in just 8 months, with foreign tourist sales accounting for as much as 70% of total sales.

29CM expanded beyond women's fashion into home, living, and kids categories, surpassing an annual transaction volume of 1 trillion won in the middle of this month.

The global business segment also saw strong growth. In the second quarter, Musinsa's global store, which operates in 13 regions including Japan, the United States, and Thailand, achieved a year-on-year transaction volume increase of over 143%. Sales in Taiwan, Thailand, Vietnam, and Indonesia more than doubled. First-half exports amounted to about 37.2 billion won, a more than ninefold increase compared to the first half of last year.

Musinsa plans to expand its domestic and international offline business in the second half of the year as well. In September and November, the company will open 400-pyeong (approximately 1,323-square-meter) 'Musinsa Beauty' stores in Hongdae and Seongsu, Seoul, respectively, and plans to launch both Musinsa Standard and Musinsa Beauty in Jeju during the fourth quarter.

Overseas, a large-scale pop-up store featuring more than 80 K-fashion and K-beauty brands will be opened in Osaka, Japan in October, with plans to establish a permanent store in Japan in 2027. In China, Musinsa Store and Musinsa Standard are scheduled to open together in Shenzhen around October.

A Musinsa representative stated, “The first half of this year was a very meaningful period in which newly introduced offline spaces successfully gained traction with customers, and increased demand in the global market led directly to tangible performance improvement. In the second half, we will continue to fully support the global expansion of our partner brands and strive to provide an innovative fashion shopping experience that breaks down the boundaries between online and offline.”

This content was produced with the assistance of AI translation services.