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Europe-based buying alliance EMD has announced that South Korea-based Homeplus will join the organisation. EMD said Homeplus will initially work with EMD on the ‘sourcing of private label products’, but noted there is scope for ‘the option of cooperation in other areas of intercontinental cooperation’.
Following the addition of Homeplus, EMD will have members in 20 countries, and will mark its third partner outside Europe, adding to Australia-based Woolworths Ltd and New Zealand-based Progressive Enterprises. Homeplus generated a turnover of US$9.7bn in 2017 and operates 752 stores across hypermarkets, supermarkets and convenience stores.
Commenting on the partnership, Homeplus’s chief executive, Lim Il-Soon, said: “We cannot imagine a better cooperation partner than the successful and worldwide well-connected EMD. The close cooperation in the private label business opens for us new and interesting purchasing channels in Europe with an immediate benefit for our customers. Additional growth opportunities will also result for our South Korean suppliers, for which new sales channels in the large distribution area of the EMD members will be made available.”
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