SEOUL—E-Mart24, the largest retailer in South Korea, opened its first store in Malaysia this week, going head to head with rival CU in the market and dominant local chain 7-Eleven, reports Insider Retail Asia.
The new 2,800-square-foot E-Mart24 store is located in a commercial district in the capital city Kuala Lumpur. The subsidiary of Shinsegae Group plans to open 10 stores by the end of this year and 300 within five years, in partnership with local master-franchise partner United Frontiers Holdings, a food and distribution company.
Rival chain CU, owned by BGF Retail Co, rolled out its first Malaysia c-store in April in partnership with Malaysian retail group MyNews and plans to open 500 outlets within five years. Both CU and E-Mart24 are seeking opportunities in Southeast Asian markets given that their South Korean networks have almost reached saturation point.
The E-Mart24 stores will sell a mixture of Korean street foods and snacks as well as local products. Private-label products will account for about 30% of the store’s offerings.
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