Korea’s E-mart taking PK Market to the US
Shinsegae’s discount chain E-mart plans to enter the US by opening its premium food outlet PK Market.
While mostly high-end products will be sold at the South Korean group’s outlet, some of its low-tier private brands such as No Brand and Peacock will also be offered.
E-mart is eyeing cities with significant Asian communities, such as Los Angeles and San Francisco. It may also acquire a food factory in Portland, Oregon, for producing its Peacock products for the US.
E-mart has also joined hands with US shopping mall giant Taubman, which helped establish Starfield shopping malls in Korea.
The Korean company has been trying to diversify its global reach, particularly after closing down stores in China over the THAAD row. Its accumulated operating loss in China has reached more than KW150 billion (US$141 million) since 2013, according to industry sources. E-mart finally exited the Chinese market last month.
Meanwhile, the company plans to open its second outlet in Ho Chi Minh City in May.