Musinsa said on Jan. 9 that it surpassed 10 billion won in cumulative online and offline transaction value within 100 days of entering China. As of end-December, the cumulative total was tallied at 11 billion won.
The online-to-offline linkage effect drove results. Transaction value for Musinsa Standard and the Musinsa Store on Tmall rose more than ninefold to 4.4 billion won in December from about 500 million won in September. After the Shanghai store opened in December, online transaction value more than doubled from the previous month, setting a monthly record. More than 85 percent of buyers are from the MZ generation.
Offline results are also coming quickly. The Shanghai Huaihai Road and Anfu Road stores surpassed 100,000 cumulative visitors within 26 days of opening, and offline transaction value also exceeded 1 billion won. A bestseller product ranked No. 1 in offline sales as well, following its No. 1 spot online.
Musinsa will open an additional store on Shanghai's Nanjing East Road in March and expand to places including Hangzhou in the first half. It aims to open more than 10 stores in China by 2026 and 100 stores by 2030.
Seulgi Son
sageson@d-today.co.kr