SoluM enters the Southeast Asian Electronic Shelf Label (ESL) market, starting with Vietnam.
On the 27th, SoluM announced that it will supply ESL products to 'WinMart' in Vietnam. WinMart is a subsidiary of Masan Group, one of the three largest private enterprises in Vietnam.
SoluM has already supplied ‘Newton Lite’ and 'Newton Freezer' products to some WinMart stores. If the supply is expanded in the future, the products are expected to be be installed in 3,000 WinMart stores in Vietnam by 2025. The company is looking at generating sales of about 45 million dollars (about 60 billion won) over the next three years.
SoluM plans to supply ESL products to companies in Southeast Asian countries with high economic growth rates, such as Thailand, Indonesia, and Malaysia, starting with Vietnam, where the production company is located. The goal within the next two to three years is to grow the SEA market into one that generates large sales following the European and American market.
Bo-il Seo, head of the business division in Vietnam, said, “Vietnam WinMart plans to increase their number of stores nationwide to 30,000 by 2025. Accordingly, our ESL supply is highly likely to increase as well. We will enter the Indian market with a population of 1.4 billion at an early stage and establish ourselves as a global ESL market leader.”
Reporter So-ra Park (srpark@etnews.com)