Musinsa, Anta Sports form joint venture to sell sportswear in China

Musinsa’s logo [MUSINSA]

 
Musinsa, Korea’s leading fashion platform, is forming a joint venture with Anta Sports to sell its products in China, gaining a foothold in a fast-evolving and highly segmented fashion and sportswear market.
 
Musinsa will own 60 percent of the new company, Musinsa China, and Anta Sports, China’s largest global sportswear company, will hold the rest, Musinsa said Wednesday. Musinsa China will oversee the operations of Musinsa properties, including Musinsa Standard and Musinsa Store, in the Chinese market. Anta Sports will participate in strategic and financial oversight through the joint venture’s board of directors.
 
The deal, pending regulatory approval, is expected to close by the end of September.
 
 
Musinsa aims to broaden its footprint in China while supporting Korean designer brands seeking entry into the local market, and Anta Sports brings its multi-brand expertise spanning sportswear, athleisure and lifestyle sportswear, to manage a diverse portfolio that appeals to both premium and mass-market consumers.
 
The joint venture is expected to provide Anta Sports with an opportunity to further leverage the convergence of sportswear and fashion through strategic investment while meeting the needs of young segmented consumers who are rapidly evolving, according to Musinsa.
 
“This strategic partnership advances Anta Sports’ ‘Single-Focus, Multi-Brand, Globalization’ strategy,” said Wu Yonghua, CEO of Anta Sports. “Leveraging our expertise in brand-retail integration and full sportswear value chain management, Musinsa China will successfully introduce Musinsa Store and Musinsa Standard to the Chinese market and provide differentiated products for style-conscious young consumers.”
 
“By combining Musinsa’s fashion industry experience with Anta Sports’ strong brand management capabilities, we expect to offer Chinese consumers a variety of channels and brand experiences, generating significant engagement among the country’s vibrant young audience,” said Park Jun-mo, CEO of Musinsa.

BY LIM JEONG-WON [[email protected]]

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