ajunews Wednesday,6 December 2023

Online apparel retail giant Musinsa to incubate new designer brands

By Park Sae-jin Posted : December 10, 2021, 16:43 Updated : December 10, 2021, 17:04

[Courtesy of Musinsa]

SEOUL -- The investment wing of Musinsa, a major online apparel retail giant in South Korea, will launch an incubation program for novel designers who dream of managing their own fashion brands. Selected designers will be given management support and business mentoring sessions.
Musinsa started its business in South Korea in 2009 as a mobile-based fashion retail platform. The online apparel store operator was soon recognized as an iconic online shopping channel that provides one-stop access to affordable and trendy fashion items. The retailer received a $2 billion investment from Sequoia Capital, an American venture capital firm, and became a unicorn enterprise in 2019.
The online apparel store offers a variety of ranges of clothing, accessories and beauty products from scores of sellers including small-sized street studio brands and global luxury brands. The fashion retail platform with some 1.7 million monthly active users opened its very first offline store in western Seoul in May 2021, targeting customers who wish to experience products before purchase.
Musinsa Partners, the investment wing of Musinsa, said in a statement on December 10 that the company has partnered with the Korea Fashion Industry Association to cooperate in the establishment and operation of "Next Fashion Incubator," a nurturing program for fashion designers who wish to start their own brands. 

© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.

기사 이미지 확대 보기