South Korean big-box retailer Homeplus has entered the Mongolian market for the first time, signing a strategic partnership with the country’s retail giant, Circle Group.
The deal aims to bring over 200 Homeplus private brand (PB) products, from processed foods to household goods, to Circle Group’s stores in the Ulaanbaatar region.
Circle Group is a 28-year-old company with diverse business experience, including foreign trade and construction.
It runs popular discount stores Orgill and premium outlets Tout’en. Executives from Circle Group reportedly made two trips to Homeplus headquarters to finalize the agreement.
Homeplus will offer a variety of products from its PB product line, Homeplus Signature, in 14 Orgil and Tout’en stores across Ulaanbaatar.
The product selection will include processed foods, condiments, snacks, beverages, and essential household items like toilet paper and wet wipes.