The South Korean company BGF Retail enters the Kazakhstan market in partnership with ice cream manufacturer Shin-Line
Source: forbes.kz
South Korean company BGF Retail announced its penetration into the Kazakhstan market in partnership with Kazakh ice cream manufacturer Shin-Line. The first store is planned to open in March 2024 in Almaty. The project involves the launch of about one hundred TS stores at the first stage.
In 2029, BGF Retail plans to increase its presence in Kazakhstan to 500 points, and is also considering the possibility of entering neighboring markets.
CU stores position themselves as retail outlets with a wide range of everyday goods. In addition to the usual range of products, Kazakh stores also offer imported goods from Korea, China and Japan.
BGF Retail forecasts the potential of the Kazakhstan market, paying attention to the country's purchasing power, the geographical location of the population and the increase in demand for local goods after the COVID-19 pandemic. They also note differences in retail trade that make the online market more attractive for TC development. In addition, the company is confident that stores will quickly take root due to the popularity of K-culture in relationships.
The master franchise agreement was a decisive factor in Shin Line's decision to enter the ice cream territory. Currently, Shin-Line occupies a large share of the ice cream market in Kazakhstan and contributes to the expansion of the distribution network and cold chain infrastructure. The network in Kazakhstan will be managed through the TS Central Asia company, which will be headed by Adrian Shin.
The “CU” retail set is a home store format that uses a wide range of essential goods. BGF Retail already has a number of CU stores in Korea, as well as Mongolia and Malaysia.
CU stores position themselves as retail outlets with a wide range of everyday goods. In addition to the usual range of products, Kazakh stores also offer imported goods from Korea, China and Japan.
BGF Retail forecasts the potential of the Kazakhstan market, paying attention to the country's purchasing power, the geographical location of the population and the increase in demand for local goods after the COVID-19 pandemic. They also note differences in retail trade that make the online market more attractive for TC development. In addition, the company is confident that stores will quickly take root due to the popularity of K-culture in relationships.
The master franchise agreement was a decisive factor in Shin Line's decision to enter the ice cream territory. Currently, Shin-Line occupies a large share of the ice cream market in Kazakhstan and contributes to the expansion of the distribution network and cold chain infrastructure. The network in Kazakhstan will be managed through the TS Central Asia company, which will be headed by Adrian Shin.
The “CU” retail set is a home store format that uses a wide range of essential goods. BGF Retail already has a number of CU stores in Korea, as well as Mongolia and Malaysia.
