Скачать или смотреть [Industry professional news channel itsTV] Private label products on track for growth

[Anchor]

It is easy to find private label products, or PL products at big-sized retail stores, which are labeled with the retail brand name. Because PL products can reduce marketing fees and retail costs, they are quickly becoming a key business for small- and medium-sized manufacturers. A trade information session was held to help small firms to roll out more PL products. We have the report.



[Reporter]

These are PL products that can be found at retail shops.



PL products are diverse, ranging from food products like anchovies or processed foods to daily necessities such as toilet paper.



Retailers directly place orders to the manufacturers and place the retailers' own brands on PL products.



Unlike other goods, PL products have significantly lower marketing fees stemming from differences in transportation and advertising, so they are becoming sought after by small- and medium firms.



The Korea International Trade Association held an export information session to help small- and medium-firms to find more markets for PL products.



[Interview - Kim Jung-soo, manager/KITA Market Development Team]

~ Giant retailers worldwide are on track to increasing their PL sources and because the Korea-US FTA is about to take effect, Korean firms, which already have great price competitiveness and quality products, can meet global PL retail buyers and networks to boost exports. This is why we invited global buyers and retailers to hold a trade seminar.



During the export seminar, Carrefour, Tesco, Woolworths and other global retailers conducted business consultations with local small- and medium-sized firms.



Local firms that participated in the seminar are expecting the session to pave way to export their goods and find new markets.



[Interview -Lim Seok-won, Manager/ Kolmar Korea, Global Business Team]

~ I came to the seminar because I heard that global private label companies were invited here so perhaps Kolmar, which is the No. 1 OEM and ODM company, could hold talks on collaborations. We had a positive talk with one company and I think once the negotiation moves forward, we will see positive results.



The export seminar, attended by nine global retailers, is expected to have offered great opportunities for the advancement of the local private label industry.


Industry professional news channel itsTV
http://www.itstv.net