Category
- Agriculture
- Automobiles and Machinery
- Bank, non banking financing, investment
- Blasting
- Construction
- Consumables
- Education
- Energy
- Engineer , Architecture and Geodesy
- Finance, Audit,Accounting and Brokerage
- Food
- Foreign Trade
- Geology Exploration
- Health
- Information Technology
- Insurance
- Labor Safety
- Legal and Business consulting
- Lighting
- Mining equipment
- Mining Services
- Other product and service
- Road
- Sewing and textile products
- Transportations
- Travel
Events
Homeplus' private brand products hit store shelves in Mongolia www.koreatimes.co.kr
Korean major retailer Homeplus' private brand products are gaining attention from Mongolian consumers after the firm's distribution network expanded to the country earlier this month, according to the firm.
On Sept. 4, the company's products arrived on the shelves of 14 Orgil and Tout'en locations in Ulaanbaatar, which are two discounted retail brands run by Mongolia's Circle Group. Homeplus said its product sales were hot during the first week of sale.
Homeplus Signature products were displayed at the front of the stores, according to the company. There were 200 different kinds of products ranging from processed foods to condiments, dried noodles, snacks, confectioneries, beverages and daily hygiene products like paper towels and wet tissues.
Homeplus said its expansion to Mongolia is based on the country's heavy reliance on imports. While the imported products on local shelves have been selling at affordable prices, Homeplus aims to distribute its private brand products at cheaper prices.
The company also took into account the fact that over 37,000 Mongolians are estimated to live in Korea and have grown accustomed to Korean consumer products.
Homeplus' Mongolian expansion came after executives from Circle Group visited Seoul two times to sign the expansion deal. Established in 1996 as a trading and construction company, Circle Group has been listed in the top 100 firms by the Mongolian National Chamber of Commerce and Industry six years in a row.
Homeplus said its long-term goal is to settle in the Mongolian market and expand Korean foods to consumer markets around the world.
By Ko Dong-hwan
Published Date:2023-09-25
