Musinsa said on Jan. 27 it will open its first permanent beauty store in Seongsu-dong, Seoul, in the first half of this year.
It will set up a beauty select shop at Musinsa Mega Store Seongsu, which is scheduled to open in the second quarter. About 800 brands will move in. It plans to create specialized spaces by product category such as makeup, skincare and fragrance.
Musinsa Beauty said its transaction value last year rose more than 50 percent from a year earlier. Transaction value for its four in-house brands—Musinsa Standard Beauty, Oddtype, Wicci and Notherb—increased 120 percent.
Musinsa plans to expand its in-house beauty brands into markets in North America, South America and the Middle East this year. It will appoint ambassadors and expand its lineup of new products.
A Musinsa Beauty official said, "We will imprint 'next beauty' on the market by expanding investment across online and offline channels and accelerating entry into global markets."
Seulgi Son
sageson@d-today.co.kr