CP Foods partners with South Korea supermarket
The SET-listed Charoen Pokphand Foods Plc (CPF) expects, the Seoul-based E-Mart, will garner the company an additional THB 1 billion in sales revenue in the first year of their partnership, climbing to THB 10 billion annually within five years.
The two companies signed a memorandum of understanding in March for the distribution of CP-brand ready-to-eat meals and frozen foods at 150 E-Mart hypermarkets and its E-Mart Everyday supermarket chain in South Korea.
Pisit Ohmpornnuwat, an executive vice-president of CPF, said the cooperation is a pilot project for the company ahead of forming other such partnerships with foreign traders and retailers.
He said CP-brand products will be selected that fit the format of the South Korean retail giant, which also features online sales via its E-Mart Mall in addition to seven branches of E-Mart Traders.