Korea’s second-largest retailer, Homeplus, has been announced as the latest retailer to join the European Marketing Distribution AG (EMD) buying group as a partner.
The agreement was signed in Zürich by Homeplus’ CEO Lim Il-Soon, and will see Homeplus cooperate in the sourcing of private label products, alongside the other EMD members, as well as explore other areas for potential international cooperation.
“We cannot imagine a better cooperation partner than the successful and well-connected EMD,” commented Homeplus CEO Lim Il-Soon. “Close cooperation in the private label business opens for us new and interesting purchasing channels in Europe, with an immediate benefit for our customers.
“Additional growth opportunities will also result for our South Korean suppliers, for which new sales channels in the large distribution area of the EMD members will be made available.”
The announcement of Homeplus as a new member of EMD strengthens the group’s presence in the Asia Pacific area, after Woolworths Australia and New Zealand joined in early 2016.
Other EMD members include Axfood (Sweden), Markant (Germany, Czech Republic, Slovakia, Austria, Switzerland), Dagrofa (Denmark), Euromadi Iberica (Spain), EuromadiPort (Portugal), Kaufland (Poland, Croatia, Romania, Bulgaria), ESD Italia (Italy), Unil/Norges Gruppen (Norway), and Lenta (Russia).
Commenting on the benefits of the group, EMD managing director Philippe Gruyters said, “The integration of procurement volumes in high demand brings to all distributors and industrial partners involved higher marketing dynamics and therefore a more secure turnover.
“In addition, a better and more competitive assortment offer will be created, a result that is in the interest of our retail customers.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.