Musinsa to open 1st Vietnam store in global expansion
SEOUL, Aug. 21 (Yonhap) -- Musinsa Co., a South Korean fashion and retail platfo...
Musinsa Co., a South Korean fashion and retail platform operator, announced plans to open its first store in Vietnam as part of its global expansion strategy. The company has signed an agreement with Au Chau Fashion and Cosmetics Co., an affiliate of Vietnamese retailer Imex Pan Pacific Group, to establish Musinsa Standard stores in Ho Chi Minh City and other major cities.
Musinsa sees Vietnam as a key market for its offline business, given the growth of the middle class and increasing digital consumption. The company plans to diversify its product portfolio to cater to local demand. Musinsa has been expanding partnerships with local companies to establish a presence in global fashion markets, with recent agreements in the Philippines and Indonesia.
The company already operates three Musinsa Standard stores in China and plans to open its first store in Japan next year. Musinsa offers over 10,000 South Korean fashion brands on its online platform and operates 41 Musinsa Standard stores and six Musinsa Store locations in South Korea, with about 4,000 of those brands also available on Musinsa Global.
Brief written by urgent.news from Yonhap News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
