INDEPENDENT NEWS

Ecostore Expands into South Korea

Published: Mon 22 Dec 2014 11:07 AM
Ecostore Expands into South Korea
22 December 2014 - Auckland, New Zealand - ecostore has signed a deal that will see them exporting into South Korea. The New Zealand company recently made headlines by being the only manufacturer in the world to convert all its proprietary bottles to a plastic made from sugarcane. Founder of ecostore, Malcolm Rands says their precautionary approach to chemicals and their new packaging were key selling points that got the Korea deal over the line.
“Korean consumers are highly conscious of the chemicals they use on themselves and especially their children. The incident in 2011 where 134 people died in an apartment building from nasty chemicals used to clean the air conditioning units has had a major impact. Now South Korea is arguably the most aware country in the world about nasty chemicals, hence the strong fit with ecostore. They loved if we have any concerns about a chemical we find a healthier alternative and the Carbon Capture™ packaging was incredibly well received.”
With a population of 50 million and retail sales in the cleaning category of NZ$1.375 billion retail, personal care products NZ$1.285 billion and skin care NZ$3.6 billion, Rands says it’s a massive win for ecostore.
“South Korea is one of the most advanced online markets in the world, with some of the product categories ecostore operates in showing up to 80% of the category sales coming from online. Korea is New Zealand's sixth largest trading partner with bi-lateral trade worth NZ$4 billion which will rise with the new agreement the two governments have formed, this is a huge deal.”
ecostore is working in partnership with South Korean company Ellusben, a start-up company headed by CEO, Cho Jae-Yong.
“Ellusben is a great company to be working with, they have significant experience in the ‘mother and baby' market with a strong online focus so this is where our initial attention will be. Becoming a parent is a key driver for people altering their habits to ensure they live a healthier lifestyle. When you combine this with Koreans concern for nasty chemicals it is a significant opportunity for ecostore.”
New Zealand Trade Commissioner – Korea, Ryan Freer says Korea is of growing importance as a market for New Zealand.
"The recently completed negotiations on a free trade agreement will bring benefits to both countries and lead to increased trade in both directions. South Korea is a market of affluent and sophisticated consumers where demand for premium natural and organic products is on the rise. ecostore is an excellent example of a company taking advantage of NZTE's services to grow and prosper in international markets."
ecostore expects to be launching in South Korea during the first quarter of 2015.
ENDS

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