Prime Highlights-
- Q2 consolidated sales rose 21.3% to 458.1 billion won, while standalone sales jumped 34% to 449.7 billion won.
- Musinsa opened 12 new stores in Q2 and saw quarterly store visits top 10 million for the first time.
Key Facts –
- Musinsa posted its highest-ever first-half sales, up 22.5% year-on-year to 821.7 billion won.
- Offline stores and global growth in Japan and Southeast Asia drove the strong performance.
Background-
Musinsa just posted its best first-half sales ever. The company said on the 31st that sales rose 22.5% to 821.7 billion won, a new record. New stores and strong growth in Japan and Southeast Asia pushed the numbers up.
On a standalone basis, sales grew 30% to 784.7 billion won. Profit on that basis rose too, up 13.1% to 65.7 billion won. Looking at just the second quarter, sales rose 21.3% to 458.1 billion won, and standalone sales climbed 34% to 449.7 billion won. That’s strong growth even during what’s usually a quiet stretch for fashion sales.
Profit did dip slightly, down to 52.3 billion won. The company spent more on materials, shipping, and payment costs as it grew. It also put money into global expansion early, aiming for bigger payoffs later on.
Physical stores performed well. Musinsa added 12 stores in the second quarter alone, ten in Korea and two overseas. Its 41 Musinsa Standard stores in Korea saw sales jump 64%, and total store visits passed 10 million in a single quarter for the first time. The new Seongsu megastore, open since April, already brought in 10 billion won in just 68 days. Foreign customers made up 44% of its sales.
Business abroad grew fast too. Transactions through Musinsa Global Store rose 143% across 13 regions. That pushed first-half exports to 37.2 billion won, more than nine times what they were a year earlier. Looking ahead, Musinsa plans to open more stores in Korea, Japan, and China before the year ends.