South Korea fashion platform Musinsa is rapidly increasing the number of its offline stores for its private brand Musinsa Standard, emerging as a new contender in the SPA (specialty retailer of private label apparel) industry. The brand is establishing a competitive landscape by positioning itself alongside Uniqlo in major shopping malls and department stores.

According to the fashion industry on Wednesday, Musinsa Standard opened its 15th offline store on September 11th, 2024, at the Lotte Premium Outlet Giheung branch in Yongin, Gyeonggi Province spanning 743 square meters.

Musinsa has been accelerating its entry into large shopping malls and department stores via collaborations with major retail companies. Of note is that it took just five months to enter Korea’s top five department stores, considered the shortest period in the industry.

The company is also actively expanding into commercial districts frequented by young consumers who are sensitive to trends, such as Seongsu-dong and Hannam-dong in Seoul. It opened its largest store - a five-story building covering 1,519 square meters - in Hannam-dong in August 2024, which has been bustling with customers.

Musinsa has intensified efforts to penetrate the offline market since CEO Cho Man-ho returned to the company in March 2024. The company aims to create a synergy effect by targeting both the online market, predominantly composed of young customers, and retail outlets frequented by families and middle-aged customers. Musinsa plans to increase the number of Musinsa Standard stores nationwide to 30 by the end of the year.

Sales of Musinsa products, including Musinsa Standard, grew by about 48 percent in 2023 to 260.5 billion won ($195 million) compared to the previous year, and Musinsa Standard stores are also becoming a shopping destination for foreign tourists. Unlike international SPA brands such as Zara, H&M, and Uniqlo, Musinsa Standard’s unique appeal lies in being exclusively available in Korea. Musinsa is considering expanding into overseas markets to take advantage of the brand’s popularity.

Launched online in 2017, Musinsa Standard has grown rapidly by offering modern casual wear that appeals to all age groups, such as short-sleeve T-shirts priced around 10,000 won and slacks in the 30,000 won range. Musinsa Standard’s offline sales increased by about 3.5 times from January to July 2024 compared to the same period the year before, and the number of cumulative offline store visitors has topped 10 million.

Although the number of Musinsa Standard stores is still about 10 percent of Uniqlo’s, the brand is gaining attention among consumers for its cost-effective casual wear, often drawing comparisons with its global competitor.

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