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Ministry of Trade, Industry and Energy and KOTRA to Help SMEs Enter Japan’s Largest Variety Shop 'LOFT'
- Writing language: Korean
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Summarized by durumis AI
- The 'Japan Loft (LOFT) One-on-One Entry Consultation Meeting' will be held at the KOTRA headquarters in Yeomgok-dong, Seoul for two days from May 16th to support the entry of domestic premium consumer goods companies into Japan.
- 43 domestic companies from 5 consumer goods sectors, including beauty, stationery, household goods, fashion accessories, and character products, will participate. Loft will be accompanied by buyers, and Ooyama, Japan's largest beauty vendor, will also visit Korea to directly review products from domestic companies and select companies for entry.
- Loft plans to hold a total of three special exhibitions featuring only Korean products until the second half of this year, and is looking forward to successful entry into Japan of excellent Korean products through comprehensive cooperation with KOTRA in the future.
One-on-one consultation session for companies hoping to enter the Japanese LOFT (LOFT) from the 16th
More than 40 domestic companies from 5 consumer goods sectors will participate, seeking to enter the Japanese major distribution network
The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yoo Jeong-yeol) will hold a "Japan LOFT (LOFT) One-on-One Entry Consultation Session" at the KOTRA headquarters in Yeomgok-dong, Seoul for two days from May 16th. This is an effort to support the entry of domestic premium consumer goods companies into Japan by utilizing the special consumption boom of foreign tourists in Japan due to the record-breaking low yen and the 4th Korean Wave boom.
LOFT (LOFT) is Japan's largest variety shop with over 163 stores nationwide. LOFT's sales in 2022 were 93 billion yen, recovering to 2019 levels before the COVID-19 pandemic thanks to increased inbound consumption due to the influx of foreign tourists. The number of stores in Japan also increased from 133 at the end of 2020 to over 161 at the end of 2023.
A total of 43 domestic companies from 5 consumer goods sectors will participate in the consultation session: △Beauty △Stationery △Housewares △Fashion Accessories △Character Products. LOFT, along with its purchasing managers, will also visit Korea with Ooyama, Japan's largest beauty vendor, to directly check out products from domestic companies and select companies to enter LOFT's online and offline stores.
Prior to its visit to Korea, LOFT held a pre-sale and limited sale event, the Korea Beauty Festival (K-COSME Festival, KOSFES), focusing on Korean cosmetics. It plans to expand to all Korean consumer goods products in October this year. LOFT's special event featuring only Korean products will be held a total of three times from last October to the second half of this year.
LOFT's purchasing manager said that they are actively looking for high-quality products in various consumer goods sectors, including Korean beauty products, and that they expect the successful entry of high-quality Korean products into Japan through comprehensive cooperation with KOTRA in the future.
Kim Sam-sik, head of KOTRA's Japan regional headquarters, said, “Due to the 4th Korean Wave boom in Japan, major distribution networks in Japan are actively looking for high-quality premium consumer goods from Korea.” “As our companies are facing a golden opportunity to enter the Japanese market, with the recent special consumption boom of foreign tourists, we will actively support more of our companies to enter the market,” he said.
Website: http://www.kotra.or.kr
Contact Information
KOTRA
Public Relations Team
Lee Eun-hwa, Staff Member
02-3460-7025
