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Mulawear

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Korean athleisure apparel brand focusing on durability

Seoul, South KoreaFounded 2013Fashion
Valuation $50–100M Last recorded · 2020
Total funding $10–50M Disclosed equity funding
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About Mulawear

Mulawear is a South Korean athleisure brand that produces and sells fitness and casual wear. It was founded in 2011 by brothers Cho Hyun-soo and Cho Hyun-woong, who were former health trainers and athletes. They identified a gap in the market for suitable, high-quality apparel for yoga instructors, which led to the creation of Mulawear. The brand's name is inspired by the French word "mouler," meaning to mold perfectly to the body.

The company started by supplying to yoga and pilates centers, eventually expanding from a B2B model to a direct-to-consumer (D2C) and then a broader B2C market. Mulawear focuses on quality, operating its own R&D research center and in-house design and manufacturing facilities to control everything from yarn to final product patterns. A key value proposition is the durability of its products, with leggings that are claimed to have a six-year lifespan, a significant increase from the industry average of six months. This is achieved through the use of premium fabrics like Lycra and Supplex, and the development of their own specialized threads and textiles in partnership with companies like Invista.

Mulawear primarily sells through its own e-commerce website, which accounts for a majority of its sales, supplemented by physical stores in locations like department stores and shopping malls. The brand offers a complete catalog for both men and women, including leggings, tops, and accessories like yoga mats and compression socks. After a period of growth, the company faced increased competition in the Korean athleisure market. In early 2025, after several years of financial losses, the parent company Mula Co. applied for corporate rehabilitation.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2013
Headquarters
Seoul, South Korea
Open positions
None listed
Dealroom signal
15.0/100
Industry
Fashion
Sector
Fashion
Links
Website

Funding history

1 recorded event

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES AOther financing Jan 2020 $10M $40M SBI Investment · LB Investment · STIC Ventures ↗
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Growth signals

Mulawear website traffic

Latest recorded traffic for Mulawear is 57K monthly website visits, down 28.7% over the last three months.

Latest monthly visits57K 3-month web change-28.7%
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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

5 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A3 investors entered at this stage

  • SBI Investment
  • LB Investment
  • STIC Ventures

Other known investors2 additional known investors

  • Infinitum Partners
  • SBI Investment Korea
Founders Hidden — book a demo/100 quality score
Key operators Hidden — book a demo quality score
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇰🇷 South Korea · Seoul HQ
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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Mulawear on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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