Musinsa will join hands with China’s largest sportswear company, Anta Sports, to target the Chinese ..

Musinsa will join hands with China’s largest sportswear company, Anta Sports, to target the Chinese market.

Musinsa announced on the 27th that it will establish a joint venture called “MUSINSA China” with Anta Sports in China and make joint investments. The deal is expected to be completed next month after approval by local regulators.

Musinsa holds a 60% stake in the joint venture and has the largest shareholder status. Anta Sports will have the remaining 40% stake.

Musinsa China leads the online and offline business of Musinsa Standard and Store in the Chinese market. Musinsa plans to actively support promising Korean designer fashion brands to enter China. Anta Sports plays a strategic and financial management role through the board of directors of the joint venture.

The partnership was promoted in line with the needs of Musinsa and Anta Sports to expand their influence in the Chinese market. Musinsa is the largest fashion platform in Korea with more than 10,000 brands and plans to actively support promising Korean designer fashion brands entering China.

“We will fully support Musinsa China to successfully introduce Musinsa Store and Musinsa Standard in the Chinese market and provide differentiated products for the younger generation who are sensitive to style,” said Yu Yong-hwa, head of Anta Sports.

“Through this cooperation, we expect Musinsa’s experience in the fashion industry and ANTA Sports’ strong brand management capabilities to provide Chinese consumers with various distribution channels and brand experiences,” said Park Jun-mo, CEO of Musinsa.

China is recognized as a land of opportunity for K fashion brands. Recently, in the Chinese fashion market, “expensive global high-end street brands” are losing, and “mid- and low-priced local and Korean designer brands” are emerging. In the first half of this year alone, more than 10 Korean fashion brands officially entered China.

The measures to expand Chinese visa-free entry, which will take effect in September, are also expected to boost exchanges between Korea and China and positively improve Musinsa’s awareness in China. In fact, the proportion of Chinese purchases at Musinsa’s domestic offline stores has been steadily increasing since the first half of this year. In the second quarter of this year, the trading volume of Chinese tourists at the editing shop “Mushin Store Seongsu @ Daerim Warehouse” increased more than 3.5 times compared to the previous quarter. In the first half of this year, the transaction volume of Chinese tourists at Musinsa Store Hongdae increased by about 180% year-on-year, and the combined transaction volume of Chinese tourists at five foreign-specific stores (Gangnam, Myeongdong, Seongsu, Hannam, and Hongdae) operated by Musinsa Standard in Seoul also increased by 120% year-on-year.

Synergy between the two companies is also expected in terms of global logistics. Musinsa plans to work with Anta Group to efficiently build supply chains and logistics processes, laying the groundwork for a quick settlement in the Chinese online market.

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