Musinsa operates a large fashion marketplace offering over 8,000 local and foreign brands to roughly 13 million users and claims about $2.35 billion in annual GMV as of 2022. The platform runs international websites in English, Japanese and Chinese and is available in 13 countries. Musinsa has expanded beyond menswear through acquisitions, notably buying 29CM and Styleshare in 2021, and runs a venture arm, Musinsa Partners, with $47.4 million AUM. The company reported $545 million in sales in 2022 (up 54% year-over-year) but operating profit fell to $2.5 million in 2022 due to heavy international expansion investments and the loss of its sneaker reselling unit SLDT. Musinsa has about 1,300 employees and has made sustainability-related investments, including a $4.7 million commitment to a climate fund. Its stated future plans include scaling online and offline businesses, expanding into overseas markets, hiring, and pursuing acquisitions to diversify its portfolio. The company says IPO plans are still at a premature stage.

Total raised

$190M

Funding rounds

1

Latest round

Series C

Latest activity

Jul 2023