Korean convenience store chain company GS Retail has met with Vietnamese producers to add local tastes to its brand offerings as it expands its retail presence in the communist country.
It has hosted a partners’ day in Ho Chi Minh City to jointly explore with 100 invited local partners the opportunity to expand supplies in Vietnam and Korea across its stores. The company has 12,000 GS25 stores across Korea and five in Vietnam, where it launched last August.
GS25 sold the entire stock of 200,000 packs of Vietnamese instant rice noodle product within the first 10 days of release last month, and aims to take more Vietnamese foods to Korea as well as promote Korean items.
The company sells more than 20 private labels produced by Korean small- and medium-sized firms specifically for the Southeast Asian market. It supplies private-label products in other Asian countries as well, including Singapore and Taiwan, and plans to expand out to four further markets this year.
GS Retail plans to add 30 more GS25 stores in and beyond Ho Chi Minh City this year to have 2000 outposts in Vietnam within the next decade. It also plans to make inroads into other Asian markets including China and Cambodia.