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Biz News Korea(Eng)

GS Retail expands affordable private brand product line

Collected: 2023.11.22

Distributed: 2023.11.23

Source: Go Direct

[Courtesy of GS Retail]

South Korean retailer GS Retail Co. said Tuesday that it will expand its lineup of private brand (PB) products that are priced lower than regular grocery items.

GS Supermarket, the company’s supermarket chain operating under the brand GS The Fresh, has been expanding its offerings since introducing PB Real Price in 2017.

The Real Price line, developed in collaboration with small and medium-sized enterprises, boasts prices that are 20-30 percent lower compared to conventional products.

Emphasizing the concept of mutual growth, the brand prominently displays the names of production partners on the face of products. The cumulative sales for this collaboration have soared to about 200 billion won ($155 million).

Starting with 21 companies and 35 products in 2017, Real Price expanded to 128 companies offering 195 products by the end of last year.

By October this year, it had grown further to 152 companies with 240 products. Sales soared 38.8 percent in the first 10 months of this year from the same period a year ago.

By Park Chang-young and Minu Kim

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