South Korean convenience-store chain E-Mart24 will open its first store in Malaysia tomorrow, going head to head with its archrival CU in the market, and dominant local chain 7-Eleven.
The subsidiary of Shinsegae Group says it plans 10 stores by the end of this year and 300 within five years, in partnership with local master-franchise partner United Frontiers Holdings, described as a food and distribution company.
Rival CU, owned by BGF Retail Co, is being rolled out in partnership with Malaysian retail group MyNews which plans 500 outlets within five years. Both chains are looking for opportunities in Southeast Asian markets given their South Korean networks have pretty much reached saturation point.
The new 257sqm store E-Mart24 Malaysia store is located in a commercial district in the capital city Kuala Lumpur.
Like CU, the E-Mart24 stores will sell a mixture of Korean street foods and snacks as well as local products, including salads and sandwiches. Own-label products will account for about 30 per cent of the store’s range and K-beauty lines will also be on sale.