Korean Fashion: Seoul Fashion Week, Musinsa, K-Brands — 2026-09-02
Musinsa reported record first-half revenue of 821.7 billion won, driven by a ninefold surge in overseas exports and the opening of its first offline store in Tokyo next year. Simultaneously, the 2027 S/S Seoul Fashion Week kicked off on September 1, expanding its footprint beyond Dongdaemun Design Plaza to Lotte World Tower. Meanwhile, Matin Kim accelerated global expansion with new stores in China and Vietnam, while Musinsa’s Harajuku pop-up saw a threefold increase in transaction volume for participating K-fashion brands.
Korean Fashion: Seoul Fashion Week, Musinsa, K-Brands — 2026-09-02
Top developments
Musinsa Posts Record H1 Revenue Amid Global Expansion Push
On August 31, Musinsa announced record first-half consolidated sales of 821.7 billion won ($598.4 million), a 22.5% year-on-year increase. While revenue hit an all-time high, operating profit fell 11.2% due to increased costs associated with offline store expansion and global logistics. This financial performance underscores the platform's aggressive shift from a domestic online community to a global omnichannel retailer, supporting its valuation targets for a potential IPO.
Tokyo Store Confirmed; Harajuku Pop-Up Drives 3x Sales Surge
Musinsa confirmed it will open its first offline store in Tokyo next year, following the success of its "Musinsa Station in Harajuku" pop-up held in late August. The pop-up generated significant momentum, with transaction volumes for the 73 participating K-fashion brands tripling compared to previous benchmarks. Additionally, Musinsa Standard reported that its Japan transactions in the first half of 2026 grew sevenfold year-on-year, with 40% of new Japanese customers also purchasing other K-fashion brands on the platform.
Seoul Fashion Week Expands to Lotte World Tower for 2027 S/S
The 2027 Spring/Summer Seoul Fashion Week launched on September 1 at Dongdaemun Design Plaza (DDP) but notably expanded its venues to include Lotte World Tower in Jamsil through September 6. This marks a strategic move by the Seoul Metropolitan Government to leverage iconic landmarks beyond the traditional DDP hub, aiming to attract broader consumer attention and integrate fashion with tourism. The event features runway shows from 31 brands and a trade show with over 100 labels.
Matin Kim Targets China, Vietnam, and West Africa
K-fashion label Matin Kim, incubated by Hago Haus, announced plans to open its first stores in China and Vietnam in October 2026, followed by an entry into Senegal in the second half of the year. This expansion follows earlier successes in Hong Kong, Macau, and Taiwan. The brand continues to leverage idol-driven marketing, recently naming TWICE’s Momo as the ambassador for its 2026 Fall Collection to boost visibility in these new Asian markets.
Local view
Local Korean business media highlighted the dichotomy in Musinsa's performance: while top-line growth is robust due to global exports (which grew ninefold), margin pressure is evident as the company invests heavily in overseas logistics and physical retail infrastructure. Hankyung noted that despite the summer off-season, Musinsa attracted 10 million users, driving the 800 billion won revenue milestone. Edaily emphasized the success of the Harajuku pop-up, noting that the "3x sales surge" validates the demand for curated K-fashion bundles in Japan's Gen Z market.
Context & numbers
- Musinsa H1 Revenue: 821.7 billion won (+22.5% YoY)
- Musinsa Operating Profit: Down 11.2% YoY due to expansion costs
- Japan Export Growth: Musinsa Standard’s Japan transactions grew 7x YoY in H1 2026
- Seoul Fashion Week Dates: September 1–6, 2026
- SFW Participation: 31 runway brands, 100+ trade show brands
On the radar
- Osaka Pop-Up: Musinsa is scheduled to open a pop-up store in Osaka’s key commercial district in late October 2026, capitalizing on the recent Harajuku success.
- Malaysia Entry: Musinsa Standard has signed an exclusive distribution deal with Indonesia’s Mitra Adiperkasa (MAP) to enter Malaysia, marking its fourth Southeast Asian market.
- Recovery Wear in Japan: Musinsa Standard is targeting Japan’s "recovery-wear" market, which is projected to grow ninefold by 2030, blending fashion with wellness tech.
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