Ultra-low-cost cosmetics priced up to 5,900 KRW launched,
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, ‘Musinsa, currently pursuing an initial public offering (IPO), is aggressively expanding its business by targeting the Chinese market and launching an ultra-low-cost skincare line.’,
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, ‘Musinsa announced on the 30th that it would open a Musinsa Standard flagship store in the Baisheng Shopping Center on Huaihai Road, Shanghai, in mid-December. Huaihai Road is known as a fashion mecca for young Chinese, with an average daily foot traffic of over 500,000 people.’,
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, ‘The Musinsa Standard store in Shanghai is Musinsa’s first overseas offline store. At the end of the year, a select shop will also open on Anfu Road, known as the Seongsu-dong of Shanghai. The Musinsa Store in Shanghai is expected to become a global hub showcasing various Musinsa partner brands in China.’,
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, ‘Starting with Shanghai, Musinsa plans to increase the number of stores in China to over 100 within the next five years. Initially, in the first half of next year, they plan to open stores in three regions including Nanjing East Road, Xujiahui, and Hangzhou. With this expansion, Musinsa anticipates achieving an integrated online and offline sales revenue in China of over 1 trillion KRW by 2030.’,
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, ‘A representative from Musinsa China stated, “Next year, we will rapidly expand our offline stores in China, focusing on southern regions where Korean products and K-fashion brands are highly popular,” and added, “We will strengthen our online and offline foundations to ensure the sustained growth of partner brands in China and worldwide.”’,
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, ‘On the same day, Musinsa Standard Beauty also launched a new ultra-low-cost skincare line. The range consists of eight basic products including cleansing foam, cream, toner, and serum, segmented according to skin type into hyaluronic acid, ceramide, and cica lines. The flagship product, the serum, was developed in collaboration with Cosmax, a global ODM (original development manufacturing) company.’,
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, ‘The prices for these products range from 3,900 KRW to a maximum of 5,900 KRW, and they are sold in 28 Musinsa Standard offline stores nationwide.’,
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, ‘Musinsa is currently in the process of selecting an underwriter with the goal of going public next year. The IPO industry estimates Musinsa’s corporate value could reach up to 10 trillion KRW.\n’