KKR-Backed Musinsa Eyes 'Fast Growth' in China

Summary

Musinsa Co-CEO Nam Cho discusses the company's aggressive physical store expansion in China and Japan, its partnership with ANTA to manage geopolitical risks, plans for a future US entry, and IPO considerations with a preference for listing in Korea or the US.

• Musinsa targets fast growth in China, aiming for 10 stores by year-end and 100 within five to six years.
• Japan and China are the priority markets, with Southeast Asia and the Middle East as next stages.
• The ANTA partnership helps secure commercial venues and manage local cultural and government relationships.
• US market entry is planned in about two to three years.
• IPO preparations are underway, likely before the US expansion.
• Korea is seen as a very attractive listing venue, but the US is also being considered for valuation.