Korean Fashion Platform Musinsa Raises $190M in Series C Funding Round — Retail Bum

Seoul-based fashion marketplace Musinsa has announced a successful Series C funding round, securing $190 million in investment at a potential valuation of $2.76 billion.

The funding was led by prominent investment firm KKR, with participation from Wellington Management.

While the exact valuation figure was not disclosed, the company confirmed it exceeds $2.3 billion (3 trillion won), marking an increase from its previous valuation of $2 billion (2.5 trillion won) in 2021 after a Series B funding round. The latest investment round brings Musinsa’s total funding amount to approximately $330 million (equivalent to around 430 billion won) since its establishment in 2001.

With the funding under its belt, Musinsa plans to advance its online and offline operations, expand its global presence, strengthen its workforce, and pursue strategic acquisitions to diversify its offerings.

Previously focused solely on men’s fashion, Musinsa completed the acquisition of women’s fashion online shopping platforms 29CM and StyleShare for $265 million in 2021, allowing for the expansion of its customer base and product range. The company currently has a team of 1,300 professionals.