Over 1,000 Korean products on sale… “Goal to expand to 20 stores within 5 years”
[Herald Economy = Reporter Kim Hee-ryang] Emart announced that it will open its first PB (Private Brand) No Brand store in the Xaysetha area of Vientiane, the capital of Laos, on the 6th.
The store, with a total area of 505㎡ (153 pyeong), will be in the form of a “lifestyle-friendly roadside shop” and will showcase over 1,000 popular Korean products to the local population.
Uncommon in Laos, Korean-style promotions such as “One Plus One” (1+1) discount events will also be held. A food court and a lifestyle products specialty store operated by a local partner company will also be introduced.
Emart signed a master franchise agreement with UDCO.CO.Ltd, an investment company of LVMC Holdings, the parent company of Kolao Group operated by Chairman Lee Se-young, for entry into the Laotian distribution market in February.
Laos, with a population of 7.5 million, borders Cambodia, Thailand, Myanmar, China, and Vietnam and is known as a country with high growth potential as it is centered around small markets and traditional markets.
Emart’s No Brand store is located in Xaysetha, where a middle-class population is concentrated. With many students from the National University of Laos residing there, the consumer base is young and has strong purchasing power. Emart aims to open about 20 No Brand stores in Laos within the next five years.
No Brand products are currently sold in about 20 countries worldwide, including Asia, the Americas, Europe, and Oceania. Approximately 70% of the products are produced by over 400 small and medium enterprises.
Choi Jong-geon, the head of Emart’s overseas business, stated, “We will diversify our overseas business to widely promote the excellence of K-distribution and provide quality products and services to local citizens.”