Musinsa may seek to raise more funds at $3.2 bil valuation Fashion platform's valuation may increase to up to $4 bil
Translated by Kim So-in 공개 2022-04-25 08:10:36
이 기사는 2022년 04월 25일 08:07 thebell 에 표출된 기사입니다.
South Korean fashion ecommerce platform Musinsa may raise additional funds at a valuation of about 4 trillion won ($3.2 billion).Musinsa is considering whether to raise funds, according to industry sources, a year after it raised 130 billion won in March 2021.
The company has been valued at approximately 4 trillion won, but the valuation could increase to up to 5 trillion won during the fundraising process thanks to rosy earnings projection, sources said. The fundraising amount is unknown.
Last year, Musinsa raised 130 billion won from Sequoia Capital and IMM Investment in a Series B funding round at a valuation of around 2.5 trillion won. The 4 trillion won valuation would mean about 1.5 times increase in the company’s value in just one year.
“Musinsa has been valued on its strong financial performance in the first quarter,” an industry source said, adding, “It has always raised funds in the form of pre-initial public offering (pre-IPO) placement although the company won’t go public anytime soon.”
Musinsa posted record consolidated revenue of 466.7 billion won, up 41% from the previous year. It also passed the 2 trillion won gross merchandise volume (GMV) milestone last year, reaching 2.3 trillion won. Its operating profit increased by 19% to 54.2 billion won. The platform has about four million monthly active users.
The proceeds from the latest funding round are expected to be used to strengthen its competitiveness. The fashion ecommerce platform acquired StyleShare and 29CM to enhance its presence in the women’s fashion market. It has also started to sell beauty, golf, luxury and pet products.
The proceeds will also be used to for overseas expansion. Musinsa plans to acquire Japan-focused rival fashion platform Dholic Commerce for its foray into the global market.
Musinsa has grown into a unicorn worth more than 1 trillion won about 10 years after its launch in 2009. It was valued at more than 2 trillion won when it raised 190 billion won from Sequoia Capital in 2019. The company is expected to go public next year.
A Musinsa official said the company is not planning fundraising now. (Reporting by Yong-bi Yang)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [한경협 파이낸셜 리포트]'돈 굴리기' 보수적 접근, '채권 투자' 집중
- 콤텍시스템, 'BM 금융 솔루션 데이' 개최
- OTT 티빙, 마케팅담당 임원 '컬리→배민 출신'으로
- [보험경영분석]ABL생명, 투자부문 금리효과에 흑자…진짜는 '회계효과'
- [여전사경영분석]JB우리캐피탈, 고수익 자산 중심 포트폴리오 개편 지속
- [보험사 IFRS17 조기도입 명암]에이스손보, 지급여력비율 개선의 이면 '계약감소'
- [보험 패러다임 시프트]IFRS17에 바뀐 경영전략…'퍼스트 무버' 총력전
- [보험사 해외사업 점검]삼성생명, 성장 느린 태국법인…자산운용 투자 '속도'
- [2금융권 연체 리스크]현대카드, 최상위 건전성 지표…현금서비스·리볼빙 주의
- [보험사 IFRS17 조기도입 명암]DB손보, 새 제도 도입 후 계약부채 확 줄었다