Korea's leading fashion platform Musinsa has officially entered the competition to secure domestic distribution rights for Hoka, the premium running shoe brand gaining rapid popularity. This positions it as a surprise contender against major fashion conglomerates.
Musinsa, Korea's leading fashion platform, has recently initiated talks with Deckers Outdoor Corp. for a potential partnership to secure domestic distribution rights for Hoka, the premium running shoe brand. Although showing little activity late last year, the company pivoted to actively pursue the deal after reassessing Hoka's rapid growth potential in the Korean market.
"Internal evaluations of Hoka’s brand recognition and symbolism are highly positive," a Musinsa official said. "We are seriously considering ways to maintain and evolve the brand’s identity and philosophy in the Korean market."
To bolster this segment, Musinsa is merging with its wholly owned subsidiary, Musinsa Trading, which specializes in brand distribution. The platform's portfolio already features global names like Noah, Dickies, Marine Serre, Sleepy Jones, JanSport, and Champion.
Founded in 2009, Hoka has surged in popularity in Korea due to its signature cushioning and the nationwide running boom. Deckers' latest earnings report shows Hoka's global revenue for fiscal year 2025 at $2.2 billion, a 23.6 percent increase from the previous year.
The competition heated up after Deckers terminated its contract with a smaller Korean distributor late last year. Traditional fashion firms such as Shinsegae International, LF, and E-Land World view securing Hoka as crucial for diversifying portfolios amid cooling luxury sales from high inflation.
"Premium sports brands with loyal fan bases are like ‘rain during a drought’ for the industry right now," an industry insider said. "Hoka is one of the fastest-growing brands in Korea because it blends high performance with fashionable design."
Past experiences highlight differences among contenders. Shinsegae International acquired Salomon rights in 2013 but exited in 2015 due to underperformance; it later became a hit in the 2020s via the gorpcore trend, credited to Musinsa's marketing. LF acquired Reebok in 2022 but has struggled against rivals like Nike, Adidas, and New Balance.
In contrast, Musinsa is expanding offline aggressively. It recently launched Musinsa Kicks, a specialized footwear store in Hongdae, and plans to open 10 more locations this year. A retail analyst noted, "Musinsa possesses branding scalability that is hard for others to match... For Deckers, a partner with superior marketing and brand-building capabilities is likely more attractive than one focused solely on sales volume."