The Korean discount store chain Ilahui is on an expansion spree and gradually increasing its footprints. With an aim to explore the prospects and opportunities in the Vietnam market, the discount store chain has opened two new stores in Vietnam. Now the company has one store in Hanoi and the other one in Ho Chi Minh City.
The retailer specialises in Korean fashion style with more than 20,000 imported products including stationery, household items, cosmetics and accessories. Besides the vast product basket, the chain adds 100 new products every month, mostly covering the hottest-trending items from Korea.
The chain aims at a target audience between the age bracket of 15 to 35 years, and offers them quality products, priced from VND 10,000 (US$0.45). It further plans to open six to eight stores by the end of this year, and 200 stores over the next five years.
Vietnam retail market has been attracting a lot of foreign retailers. In the last couple of years several foreign retailers have debuted in Vietnam to explore the business opportunities. Korean discounter – Naughty Cat settled down in Ho Chi Minh Lately, and has been attracting a large number of young local consumers.
The chain has been very rigorous on its expansion plans in the Asian region. With more than one store being launched in a day, the brand definitely wants to boost the visibility in the region. In Vietnam, the brand has launched its stores under an exclusive franchise agreement with V.I.C Retail company.