Fashion platform Musinsa posted a revenue of 1.2 trillion won on a consolidated basis last year, marking its first transition to profitability. This is the first time annual revenue has surpassed 1 trillion won. Musinsa recorded a transaction amount of 4.5 trillion won last year, an increase of over 14% compared to the previous year.

Musinsa noted in its business report disclosed on the 31st that last year’s revenue reached 1.2427 trillion won, a 25.1% increase from the previous year. Operating profit reversed to 102.8 billion won from an operating loss of 8.6 billion won in 2023.

Mushinsa delivers over 15,000 items of donated clothing to the evacuation shelters for the wildfire victims in Gyeongbuk./Courtesy of Mushinsa

Last year's net profit was 69.8 billion won, marking a return to profitability. Classifying Musinsa's revenue structure from last year, commission revenue was recorded at 48.51 billion won (a 24.3% increase compared to the previous year), product sales were 37.6 billion won (a 15.0% increase), and merchandise sales were 33.83 billion won (a 29.9% increase).

Excluding affiliates, Musinsa's standalone revenue last year was 1.1005 trillion won, an increase of 24.6% from the previous year.

Musinsa stated, "The solid growth of domestic designer brands in platforms like Musinsa, 29CM, and global businesses has led to an increase in revenue," adding, "The balanced growth of new businesses strategically promoted by Musinsa in areas such as beauty, sports, and home, as well as offline and global expansion has supported this development."

On a consolidated basis, earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 195.1 billion won last year, more than doubling from 83.9 billion won the previous year.

Musinsa plans to expand investments in tech infrastructure and talent acquisition to enhance major platform services this year.

They will also increase investments in global logistics services to lay the groundwork for K-fashion brands to actively enter overseas markets.

Park Jun-mo, CEO of Musinsa, said, "As we have seen visible revenue growth for entry brands since last year through aggressive tech investment to expand AI-based product recommendations and exposure, we will expand investments this year to ensure K-fashion brands receive more attention in offline and global markets."