South Korean online fashion platform Musinsa has secured US$190M in a Series C round led by global investment firm KKR and participated by Wellington Management.
The fund will bring Musinsa’s value to approximately US$2.76 bn, making it the first fashion platform to be valued at more than three trillion won in Korea. The Series C marks the company’s third financing round, after raising 130 billion won in Series B and 100 billion won in Series A in 2021 and 2019 respectively.
“Musinsa has developed itself as a top consumer Internet platform in Korea and a differentiated marketplace by its ability to scale rising brands, enable the creator economy for fashion, engage and provide a high-quality e-commerce experience for customers,” said Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific at KKR.
CEO of Musinsa, Munil Han, said the company will use the fund for “scaling the platform and creating new standards of success in the online and offline markets with domestic and foreign brands.”
