SEOUL – BGF, which owns the CU Korean convenience store chain, has increased its investment in Hello Nature, an online grocer, Inside Retail Asia reports. BGF now has a 50.1% stake in the company, which it will run as a partnership.
“The online premium grocery shopping market is a blue ocean which has been growing rapidly every year,” said BGF chief Lee Keon-jun. BGF will connect Hello Nature’s delivery service to its 13,000 CU stores. Delivery of fresh food has been on the rise in Korea, due to an increasing number of single households.
In other Asian retail news, FamilyMart Uny will be opening a joint store with Japanese discounter Don Quijote, Inside Retail Asia reports. The convenience store chain has been struggling lately, and in 2017, Don Quijote bought a 40% share in its general merchandise department.
The convenience-discount store opened in Tachikawa, Tokyo, with two additional stores planned to open in June. Don Quijote is also open 24 hours and has floor-to-ceiling shelves stocked with such varied products as designer goods and leopard-print rugs.
If you're interested in the Asian convenience market, mark your calendar for March 2019 when NACS hold its Convenience Summit Asia in Shanghai, China.