Established in 1992, Daiso Asung Corp. launched and led Korea’s price-point retailing market in collaboration with Japan’s price-point retailer, Daiso Corporation. (image: Kobizmedia/Korea Bizwire)
SEOUL, December 15 (Korea Bizwire) – Daiso, Korea’s price-point retailer chain, announced that its annual sales surpassed the 1 trillion won (US$ 905 million) mark in 2014. This figure set a new annual sales record for the company, which opened its first variety store, ‘Asco Even Plaza’, in 1997.
Daiso stores offer 30,000 household products, most of which sell between 1,000 and 5,000 won (one to five US dollars). Their general concept is similar to that of dollar stores in North America.
Established in 1992, Daiso Asung Corp. launched and led Korea’s price-point retailing market in collaboration with Japan’s price-point retailer, Daiso Corporation. Jungbu Park, founder and Chairman of Daiso Asung Corp., said that Daiso now operates 970 shops in South Korea.
The growth of Daiso Asung Corp. has been impressive over the last decade, with its annual sales growing at an average pace of 30 percent. Annual sales for Daiso Asung Corp. reached 100 billion won (US$ 90.5 million) in 2006 and 450 billion won (US$ 407 million) in 2010.
As Daiso now has annual sales of one trillion won, this means that the average South Korean bought seventeen Daiso products in 2014. On a daily basis, 50,000 people visited Daiso and 2.3 million products were sold in 2014.
(debbie ding/flickr)
By J.W. Choi (summerchoi@koreabizwire.com)
