FOR IMMEDIATE RELEASE
South Korea’s Homeplus joins EMD
- Cooperation will start in the private label business
- Global supply chains offer increased opportunities for growth to the distributors and industrial partners involved – retail customers benefit from a larger assortment variety
Pfäffikon, Switzerland: The European Marketing Distribution AG (EMD) welcomes a new partner: Homeplus Co. Ltd, Korea’s second largest retailer, is from now on closely cooperating in the sourcing of private label products with the leading European associated group. The agreement signed on Wednesday 23 January in Zürich by Homeplus’ CEO Lim Il-Soon provides also for the option of cooperation in other areas of intercontinental cooperation.
Homeplus, founded in 1997, is the second largest company in the South Korean retailer market with a turnover of 9.7 billion US dollars (2017). The Homeplus Group owned by the Asian private equity firm MBK Partners operates currently 752 retail outlets and eight logistics centres. More specifically, the branch network comprises 351 supermarkets, 140 hypermarkets, 261 convenience shops, various shopping malls and bakeries operated in the checkout areas. The Homeplus Group offers its food and non-food assortments also online and owns a delivery company.
Homeplus CEO Lim Il-Soon about the partnership with EMD: “We cannot imagine a better cooperation partner than the successful and worldwide well-connected EMD. The close cooperation in the private label business opens for us new and interesting purchasing channels in Europe with an immediate benefit for our customers. Additional growth opportunities will also result for our South Korean suppliers, for which new sales channels in the large distribution area of the EMD members will be made available.”
EMD managing director Philippe Gruyters also points out the considerable advantages of a transnational trading business: “The integration of procurement volumes in high demand brings to all distributors and industrial partners involved higher marketing dynamics and therefore a more secure turnover. In addition, a better and more competitive assortment offer will be created, a result that is in the interest of our retail customers.”
Through this now beginning partnership, EMD deepens its commitment in the Asia-Pacific area, after Woolworths Australia and New Zealand joined in early 2016.
- Cross reference: Picture is available at AP Images (http://www.apimages.com) –