Key Points

  • Musinsa will terminate its limited-edition trading platform Soldout on December 31, 2026, fully consolidating its fashion resale business under Musinsa Used.
  • SLDT, the operator of Soldout, raised a cumulative 55 billion KRW, posted an operating loss of 15.8 billion KRW in 2021 and 28.1 billion KRW in 2023, and was subsequently absorbed by Musinsa through a merger.
  • Musinsa Used's transaction volume in June this year grew roughly 10x compared to its launch month of September 2025, with the number of sellers up 30x.

South Korean fashion platform Musinsa has announced that it will end the operation of its limited-edition goods trading platform "Soldout" on December 31, 2026, and unify its resale business under "Musinsa Used." The company said the move is aimed at concentrating resources on the faster-growing general fashion secondhand trade amid shrinking C2C trading of limited-edition items.

Soldout launched in July 2020, initially targeting the resale market centered on limited-edition sneakers, with operating entity SLDT building authentication infrastructure and expanding staff for this purpose. In 2022, SLDT secured 40 billion KRW through a capital increase participated in by Musinsa and Dunamu, bringing cumulative funding to 55 billion KRW at the time; the company said the funds were used to hire new employees, build authentication centers, and expand into new categories. However, scaling up came with sustained losses: SLDT recorded an operating loss of 15.8 billion KRW in 2021 and 28.1 billion KRW in 2023. Musinsa subsequently absorbed SLDT through a merger and took over direct operation of Soldout.

In contrast stands Musinsa Used, launched in August 2025. Its transaction volume in June this year grew about 10x compared to its launch month of September 2025, and the number of sellers increased 30x. The two also differ in model: Soldout focused on individual resale of limited-edition items, while Musinsa Used expands the scope to general fashion secondhand goods. The latter's process has sellers send in items, with the platform handling the full chain of pickup, photography, care, listing, sales, and delivery.

Musinsa plans to transplant the C2C service operation and management experience accumulated through Soldout into Musinsa Used, building a secondhand platform covering everything from Korean domestic designer brands to limited-edition items from well-known overseas brands. The organizational structure will also be adjusted with the integration: the company is considering placing Soldout's operating staff into the platform and secondhand business organizations based on their expertise and track records to maintain employment; after the service shutdown, customer service responses will still be maintained for users and partners.

A Musinsa official said that Musinsa Used has grown rapidly since its launch in August 2025, and this decision is intended to shift from trading a small number of items centered on limited editions to creating new value through secondhand goods, in line with the circular economy trend, and to pursue sustained growth through "selection and concentration" in the secondhand sector.

For the industry, this integration shows that the high-investment authentication model for limited-edition resale comes under pressure when demand cools, while fashion secondhand trading covering broader categories with the platform handling the full process is becoming the resource focus for South Korean platform companies.

Source: 무신사, ‘솔드아웃’ 접고 ‘유즈드’로 통합…한정판 리셀서 패션 중고거래로 · Originally published 2026-10-07