House brands at big retail chains continue to grow

Home > Business > Industry

print dictionary print

House brands at big retail chains continue to grow

Private-label products sold by large retailers have experienced sharp growth in the Korean market on rising demand for cheaper products, a report said Wednesday. The market for such house-brand products reached 9.3 trillion won in 2013, up from 3.6 trillion won in 2008, according to the report by the state-run Korea Development Institute (KDI).

Industry leaders Lotte, E-mart and Home Plus earned some 20 percent of their sales from house-brand goods, while convenience stores like GS25, Seven Eleven and CU earned 28.8 percent.

Retailers have extended private branding in a way to reduce costs. They outsource store-brand good and don’t have to run large manufacturing facilities or even design teams. YONHAP

More in Industry

Chuseok delivery strike canceled as headcount increased

BMW Motorrad channels 1936 for its latest bike

Battery business IPO won't affect LG Chem's controlling stake, company says

Hyundai Construction Equipment signs Algeria forklift deal

FSS permits financial sector workers to use networks remotely

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now