SEOUL — The investment wing of Musinsa, an online clothing retail giant in South Korea, will launch an incubation program for new designers who dream of running their own fashion brands. Selected designers will benefit from management support and business mentoring sessions.
Musinsa started operations in South Korea in 2009 as a mobile fashion retail platform. The online clothing store operator has quickly gained recognition as an iconic online shopping channel that provides one-stop access to affordable and trendy fashion items. The retailer received a $2 billion investment from Sequoia Capital, an American venture capital firm, and became a unicorn company in 2019.
The online clothing store offers a variety of clothing, accessories and beauty product lines from dozens of sellers, including small high street studio brands and global luxury brands. The fashion retail platform with some 1.7 million monthly active users opened its first-ever offline store in western Seoul in May 2021, targeting customers who want to experience products before buying them. .
Musinsa Partners, the investment wing of Musinsa, said in a statement Dec. 10 that the company has partnered with the Korea Fashion Industry Association to cooperate in the creation and operation of “Next Fashion Incubator”, a training program for fashion designers who wish to launch their own brands.
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