Musinsa, Anta Sports form joint venture to tap Chinese fashion market

Major fashion shopping platform Musinsa will establish a new fashion company in China with Anta Sports, a major sportswear company in the colossal East Asian market. The Korean firm said Thursday that it expects to launch Musinsa China after passing regulatory approval next month. Musinsa, which curates and sells designer goods primarily from Korean small- and medium-sized enterprises, will hold a 60 percent stake in the joint venture, with Anta Sports owning the remainder. Musinsa China will oversee online and offline expansion of Musinsa's private brand, Musinsa Standard, and the physical locations for Musinsa in the Chinese market. Anta Sports will exercise strategic and financial oversight through representatives on the board of directors. The partnership reflects the two companies' shared strategic interest in the rapidly evolving Chinese fashion market. Musinsa, a leading fashion platform with 10,000 curated brands, is actively supporting the entry of promising Korean designer brands in China. The Korean firm said Musinsa China creates an opportunity to "leverage convergence of sporWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times