On August 18, Jin10 reported that South Korean fashion platform Musinsa is considering an IPO and has invited several investment banks to submit proposals to act as the lead underwriter. Details of the IPO have not been disclosed, but Korean media reports suggest that the company may seek a valuation of about 10 trillion won (approximately 7.2 billion USD), with the earliest possible listing in 2026 in South Korea or the United States. Musinsa operates the South Korean online fashion platform ‘Musinsa’ and ‘29cm’, which targets female users, with monthly active users of approximately 7 million and 3 million, respectively. The global store launched by Musinsa in 2022 has seen rapid growth, with an annual rise in volume of 260%. As of the end of April this year, the platform’s monthly active users have reached 3 million. According to company documents, Musinsa’s sales increased by 25% last year to 1.2 trillion won, and operating profit turned from loss to profit at 102.8 billion won, with an operating profit of 17.6 billion won recorded in Q1 this year.
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