Q2 2025 Revenue Up 31%, Operating Profit Up 23% YoY…H1 Revenue Reaches KRW 670.5B(USD 500M), Operating Profit KRW 58.9B(USD 44M)
Omnichannel Strategy Strengthens Online and Offline Competitiveness…Continued Investments in Growth Areas Including Beauty and Global Expansion in H2
SEOUL, South Korea, Aug. 28, 2025 /PRNewswire/ — MUSINSA‘s revenue for Q2 2025 reached approximately KRW 377.7 billion(USD 282 million), representing an increase of 30.7% compared to the same period last year. Operating profit for the quarter came in at KRW 41.3 billion(USD 31 million), up 22.6% year-on-year. Net income for Q2 2025 was KRW 40.8 billion(USD 30 million), a surge of more than fivefold(+462.8%) from Q2 2024. These figures represent MUSINSA’s highest-ever second-quarter performance.
For the first half of 2025, MUSINSA’s consolidated revenue totaled KRW 670.5 billion(USD 500 million), an increase of 22.1% year-on-year. Operating profit for the period reached KRW 58.9 billion(USD 44 million), up 23.0% from the first half of 2024. MUSINSA also reported a net income of KRW 37.2 billion(USD 28 million) for H1 2025, impacted by an accounting policy change under which RCPS (Redeemable Convertible Preferred Shares), previously classified as equity, are now recognized as debt. As a result, approximately KRW 40 billion(USD 30 million) in non-cash interest expenses were reflected in the financial statements. Excluding this impact, adjusted net income for the first half of 2025 would have been nearly KRW 80 billion(USD 60 million).
In Q2 2025, MUSINSA maintained steady growth despite sluggish overall consumer sentiment, with balanced performance across the fashion, beauty, and lifestyle categories. For the online business, 29CM’s “29 Week” and MUSINSA’s “Summer Black Friday” promotional events held in June generated combined sales exceeding KRW 340 billion(USD 254 million), achieving strong results despite the traditionally slow summer season.
For the offline business, MUSINSA focused on enhancing customer experience by opening new stores during Q2 2025, including: Musinsa Standard Triple Street Songdo(April), Musinsa Standard Galleria Timeworld(May), Musinsa Standard Shinsegae Premium Outlet Siheung (June), and 29CM Home Seongsu(June). In total, MUSINSA opened nine new offline stores in the first half of 2025, with offline sales exceeding KRW 100 billion(USD 75 million). The company continues to strengthen its omnichannel strategy to reinforce competitiveness across both online and offline channels.
In the second half of 2025, MUSINSA plans to further expand its business by enhancing platform competitiveness and increasing its offline footprint. Earlier this month, MUSINSA opened “Musinsa Store Gangnam”, a curated multi-brand shop featuring over 130 fashion brands. By the end of 2025 and early 2026, the company also plans to launch large-format Musinsa Megastores in Yongsan and Seongsu.
Joonmo Park, CEO of MUSINSA, stated “Since declaring an emergency management phase in April, we have focused on eliminating inefficiencies across the organization and rapidly enhancing competitiveness both online and offline. As a result, our Q2 performance demonstrated balanced growth across key areas.” He added, “Although external uncertainties are expected to continue in the second half, we will proceed with our planned investments in global expansion, beauty, lifestyle, and re-commerce to remain agile and responsive to changing market conditions.”
MUSINSA Achieves Record-Breaking Q2 2025 Results — Revenue KRW 377.7B (USD 282M), Up 31% YoY — Operating Profit Jumps 23%
