SEOUL, Feb. 22 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount store chain operator, said Thursday it aims to achieve 1.9 trillion won (US$1.76 billion) in sales from its warehouse-style stores this year as it attempts to revitalize offline shopping outlets in the face of tougher competition from online malls.
E-Mart Traders opened two new branches in December last year, raising the total number of stores in operation to 14, the company said. It plans to open one or two more outlets this year.
E-Mart said Traders is the largest warehouse-style store chain in South Korea by number of outlets, beating U.S. retailer Costco, which has 13 stores here.
Launched in 2010, E-Mart Traders has posted over 25 percent on-year growth in sales for three straight years since 2015, it said. Its sales came to 1.52 trillion won in 2017, up 27.2 percent from the previous year.