Musinsa to shut down Soldout platform, consolidate resale under Musinsa Used

Fashion and beauty platform Musinsa announced Thursday it will officially shut down Soldout, its limited-edition trading platform, at the end of this year.

Last year, Musinsa absorbed SLDT, the subsidiary that had operated Soldout, to streamline operations. However, a decline in customer-to-customer transactions for limited-edition products drove the decision.

Soldout's fashion resale functions will be fully consolidated under Musinsa Used, with the operational and management expertise behind Soldout's C2C service carried over to the new platform. Musinsa Used plans to expand into a resale platform handling products ranging from domestic designer fashion brands to limited-edition items from major international brands.

Musinsa said it will review retaining employees who worked on Soldout within its platform and resale divisions, taking into account their professional expertise and career development potential. The company added it will continue to provide stable customer support for users and partner companies after the service closes.

"As Musinsa Used, the resale service launched in August last year, has grown rapidly in recent months, this is a strategic decision that goes beyond trading a small number of limited-edition products and aligns with the circular economy trend of creating new value through secondhand goods," a Musinsa official said. "We will pursue sustained growth through focused commitment to the resale space."