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Biz News Korea(Eng)
Gemi Food given wings to venture overseas under Lotte Mart PB partnership
- Collected
- 2017.08.22
- Distributed
- 2017.08.23
- Source
- Go Direct
이미지 확대Gemi, a small food maker based in Seongnam, Gyeonggi Province, was handpicked by Lotte Mart, a unit of South Korea’s retail conglomerate Lotte Group, in February to supply private or store snack brand for the nationwide grocery chain store.
Only Price Crispy Roll Mini made out of 21 types of grains carrying a modest price tag of 2,000 won ($1.76) per bag was sold out in the first month. Over the last five months it hit shop shelves, the snack sold 600,000 bags.
The food company founded in 1995 for the first time had to add another production line and expand space of its factory as monthly sales jumped to 1.2 billion won from 900 million won.
The company signed off an order to ship the snack to a U.S. buyer who was satisfied with the product while a visit to a Lotte Mart store. It will ship the first batch in September after it is done with packaging.
“It has been a win-win partnership as Lotte Mart also has been helped by the increased snack sales,” said Kim Jong-in, chief executive of Lotte Mart.
By Sohn Il-seon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]