A Musinsa offline store in Seongdong District, Seoul / Yonhap
Musinsa, Korea's largest online fashion platform, said Wednesday it signed an exclusive distribution agreement with ACX Holdings Corporation, the retail arm of Philippine conglomerate Ayala Corporation, to expand its business in the Southeast Asian country.
Musinsa and ACX Holdings signed the agreement July 17, and the companies plan to gradually expand distribution channels in the Philippines, including opening offline stores, Musinsa said.
Ayala Corporation, founded in 1834, is one of the Philippines' largest conglomerates, with businesses spanning real estate, financial services, telecommunications and energy.
ACX Holdings serves as its retail and distribution subsidiary, helping global brands enter and operate in the Philippine market.
