Musinsa achieved its highest-ever revenue in the first half of the year, driven by rapid expansion of domestic offline stores and significant growth in overseas markets, including Japan and China.
On August 31, Musinsa announced that its consolidated revenue for the first half of 2026 reached 821.7 billion won, a 22.5% increase from 670.5 billion won during the same period last year. This marks the highest performance for the first half of any year.
The company's standalone performance, which reflects its core platform business, showed even more pronounced growth. Standalone revenue for the first half was 784.7 billion won, up 30.0% from the previous year. Standalone operating profit also increased by 13.1% to 65.7 billion won.
In contrast, consolidated operating profit fell by 11.2% to 52.3 billion won compared to the same period last year. This decline is attributed to rising costs for materials and labor, as well as increased selling and administrative expenses due to larger transaction volumes.
A Musinsa representative stated, "We expect that our proactive investments in logistics efficiency and marketing expansion in key regions like Japan and China will contribute to profitability starting next year."
The company reported a net loss of approximately 15.6 billion won for the first half. Musinsa explained that this was due to accounting policies recognizing redeemable convertible preferred stock (RCPS) as debt, which reflects interest expenses on the books but does not indicate actual cash outflow.
The key drivers of growth in the first half were the offline and global businesses. In the second quarter, Musinsa opened 12 new offline stores, including 10 in South Korea and 2 overseas. In April, it launched the Musinsa Standard Shanghai Xinyubai and Hangzhou Hanglong Plaza stores in China.
In South Korea, the company is expanding its offline presence, particularly through large stores. The 'Musinsa Mega Store Seongsu,' which opened in April, recorded cumulative sales of approximately 10 billion won within just 68 days. The newly introduced sneaker specialty store 'Musinsa Kicks' also surpassed 1 million visitors across its two locations in Hongdae and Seongsu within eight months.
Musinsa's global online business is also rapidly expanding. In the second quarter, transaction volume for the Musinsa Global Store, which operates in 13 regions including Japan, the U.S., and Thailand, increased by over 143% compared to the same period last year.
Looking ahead, Musinsa plans to continue its aggressive expansion both domestically and internationally in the second half of the year. In September and November, it will open standalone 'Musinsa Beauty' stores, each covering 400 pyeong, in Hongdae and Seongsu, respectively. In the fourth quarter, it will debut both Musinsa Standard and Musinsa Beauty in Jeju, the first of its kind in the region.
Internationally, Musinsa will target the Japanese and Chinese markets simultaneously in October. In Osaka, Japan, it will operate a large pop-up store featuring over 80 K-fashion and K-beauty brands for two weeks starting in late October. In Shenzhen, China, it plans to showcase a Musinsa store featuring K-fashion brands alongside its private label, Musinsa Standard.
A Musinsa representative added, "In the second half, we will continue to support the global growth of our partner brands and strive to provide a fashion shopping experience that blurs the lines between online and offline."
* This article has been translated by AI.
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