Musinsa Partners with Ayala Group’s ACX Holdings to Expand K-fashion into Philippines, Southeast Asia

TCF POST Report

Korean fashion platform Musinsa is expanding into Southeast Asia through a new partnership with ACX Holdings Corporation, a distribution affiliate of the Ayala Group — the Philippines’ largest and oldest conglomerate, with a 190-year history.

Musinsa and ACX Holdings signed an exclusive distribution agreement on July 17, under which the two companies will roll out local operations in the Philippines, including gradually expanded distribution channels and offline retail stores.

ACX Holdings operates within Ayala Group’s core businesses — real estate, finance, telecommunications, and energy — and specializes in bringing global brands into the Philippine market. Under the new agreement, Musinsa becomes ACX’s fashion-sector partner as the distributor continues expanding across retail, food, wholesale, and lifestyle categories. Leveraging ACX’s distribution infrastructure and local business capabilities, Musinsa aims to secure a stable market entry while rapidly scaling its reach among Filipino consumers.

Market opportunity

The Philippines represents a key Southeast Asian consumer market, with a population exceeding 110 million and a young demographic driving rising fashion demand. Growing interest in K-fashion — fueled by the broader Korean Wave of K-pop and K-dramas — has been a key tailwind: transaction volume on Musinsa Global Store in the Philippines grew at an average annual rate of roughly 50% between 2023 and 2025.

Offline expansion

Musinsa will expand its offline footprint in major Philippine commercial districts, centered on its in-house label, Musinsa Standard. The first store is slated to open in the second half of this year at Glorietta, a major shopping mall in Makati — Manila’s premier retail hub.

Executive comment

“The Philippines is a strategic market with significant growth potential, driven by high interest in Korean fashion brands among young consumers,” a Musinsa official said. “Based on close cooperation with ACX Holdings, which possesses a deep understanding of the local market and retail operational capabilities, we will strengthen the unique brand competitiveness of Musinsa Standard and provide Filipino consumers with a new K-fashion experience.”

Musinsa — Key Figures (as of 2025)