Domestic brand incubator Hagohouse's investment brand Matengkim announced on the 30th that it has signed a distribution contract worth a total of 60 billion won with Thailand's major distribution company Central Group.
Founded in 1947, Central Group is one of Asia's largest retailers, with department stores and flagship stores in key European markets, including Thailand, Germany, the UK, Italy, Denmark, and the Netherlands. This five-year contract, which runs until 2030, will allow Mateng Kim to leverage Central Group's distribution capabilities and local network to aggressively expand into the Thai market.
Mateng Kim will open its first official store in Bangkok's major department store, Central Chidlom, in November. Following this, it plans to sequentially operate 20 offline stores and an official online channel across Thailand through Central Group's distribution network.
Matin Kim decided to enter this market after noting the high proportion of Thai customers among foreign customers visiting domestic stores and the spread of Korean fashion trends in Thailand.
A representative from Hagohouse stated, “Matang Kim has now entered Thailand, a key Southeast Asian market following China, Japan, North America, and Eastern Europe,” and “We plan to continue expanding our brand influence in the global market through this collaboration.”
- See more related articles
You must be logged in to post a comment.