KKR Funnels $190 Million in Series C Funding of MUSINA

MUSINSA, a South Korean online fashion platform, and KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will lead MUSINSA's (the "Company") US$190 million Series C fundraise, with participation from Wellington Management, one of the world's largest independent investment management firms.

MUSINSA, founded in 2001 as an online sneaker community, is now a South Korean online fashion marketplace with over 8,000 local and foreign designer brands and an in-house brand (musinsa standard), anchoring the creator economy for fashion in South Korea. MUSINSA has grown over time to include a comprehensive ecosystem that includes communities, a brand incubator (MUSINSA PARTNERS), and other services and an offline multicultural lounge (musinsa terrace) that allows for offline interactions with its customers.

This transaction marks KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (“NGT”) strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across key themes, including software, consumer technology and FinTech.

Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific for KKR, said, “MUSINSA has developed itself as a top consumer Internet platform in Korea and a differentiated marketplace by its ability to scale rising brands, enable the creator economy for fashion, engage and provide a high-quality e-commerce experience for customers. We see enormous opportunity for MUSINSA to build on its leading position in a fast-growing K-fashion market that continues to shift online and expand globally on the back of K-culture’s explosive reach. We are excited to partner with the management team and look to leverage KKR’s global network, operational expertise, and deep technology experience to take MUSINSA to its next phase of growth.”