Musinsa Sells Stake to Anta Sports for China Expansion
Deal News | Jan 03, 2025 | Aim Group
Seoul-based fashion retailer Musinsa has sold a 1.7% minority stake valued at KRW50 billion ($33.9 million) to Anta Sports, a China-headquartered global sportswear brand, as reported by MK and aggregated by Aim Group. This transaction is seen as a strategic move by Musinsa to enter the Chinese market through a potential joint venture. As part of this expansion strategy, Musinsa is integrating its various services into a single multiplatform and is managing a niche marketplace called SoldOut, which specializes in sneaker resales. Founded in 2001, Musinsa operates more than 100 businesses in South Korea, with the completion of the SoldOut merger anticipated by the first half of this year. The deal was brokered by sellers IMM Investment, Atium Investment, and Daeshin Private Equity, with Musinsa's valuation pegged at approximately KRW3 trillion ($2 billion).
Sectors
- Fashion Retail
- Private Equity
- Sportswear
Geography
- South Korea – Musinsa is a fashion retailer based in Seoul, South Korea, and operates multiple businesses in the country.
- China – Anta Sports is a global sportswear brand based in China, and the transaction is intended to support Musinsa's market entry into China.
Industry
- Fashion Retail – Musinsa is a fashion retailer integrating various services, including a sneaker resale business.
- Private Equity – The transaction involves private equity firms IMM Investment, Atium Investment, and Daeshin Private Equity as sellers.
- Sportswear – Anta Sports, a global sportswear brand, is the buyer in the transaction.
Financials
- KRW50 billion ($33.9 million) – The sale price for a 1.7% stake in Musinsa.
- KRW3 trillion ($2 billion) – The valuation of Musinsa at which the deal was made.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Musinsa | Target Company | Company | A Seoul-based fashion retailer planning to enter the Chinese market. |
| Anta Sports | Bidding Company (Buyer) | Company | A China-based global sportswear brand that purchased a stake in Musinsa. |
| IMM Investment | Selling Company | Company | A private equity firm involved in selling a stake in Musinsa. |
| Atium Investment | Selling Company | Company | A private equity firm involved in selling a stake in Musinsa. |
| Daeshin Private Equity | Selling Company | Company | A private equity firm involved in selling a stake in Musinsa. |