Southern Korean fashion retailer Musinsa, backed by private equity firm KKR, is accelerating its retail expansion across Asia as it eyes a potential initial public offering, according to The Business Times.
The company plans to open new stores in key Asian markets, including Japan and Southeast Asia, as it seeks to diversify its revenue streams beyond South Korea. Musinsa, which started as an online fashion platform, has been expanding its offline footprint to enhance brand visibility and customer experience.
The expansion comes as Musinsa prepares for an IPO, which could value the company at over $2 billion. KKR invested in Musinsa in 2021, and the new store push is seen as a move to boost revenue and attract investors ahead of the listing.