GS Retail Co. has joined hands with Taiwanese trading firm Tait Marketing & Distribution Co. to actively export items from the PB brand “You Us.” (image: GS Retail)
SEOUL, Sept. 26 (Korea Bizwire) — Convenience stores are not just bringing in foreign products, but they are also exporting offerings from their own brands.
GS Retail Co., a major South Korean retailer, has joined hands with Taiwanese trading firm Tait Marketing & Distribution Co. to actively export items from the private-label brand (PB) brand “You Us.”
GS Retail first began selling U.S. “Sticky Monster Lab” drinks in Taiwan in 2017, which were well received by local consumers.
On the back of the drinks’ popularity, the company will export 20 additional products, including Kakao Smoothie and Mini Pretzels, by the end of this year.
Company sales, which stood at around 100 million won (US$83,200) in 2017, increased to 500 million won last year and are expected to increase to around 2 billion won this year.
Meanwhile, Korea Seven Co., which operates convenience store chain 7-Eleven, will export five of its 7-SELECT PB brand snacks to Hawaii.
The company’s topokki snack is a product with Korean ingredients and character.
Korea Seven planned the export as the headquarters showed high interest in Korean products due to the recent Korean Wave driving the popularity of K-pop and K-food.
As Hawaii has a high percentage of Korean residents and many visiting tourists, Korea Seven believes that there is a great potential for growth.
Ashley Song (ashley@koreabizwire.com)
