F&Republic Enters Chinese Health Supplement Distribution Business... "Diversifying Market Strategy"

[Asia Economy Reporter Yoo Hyun-seok] F&Republic announced on the 24th that it has signed an exclusive distribution agreement in China with the health food healthcare company ‘Irom Global.’ F&Republic plans to expand its business scope from its existing fashion cosmetics business in China to the health food business.

Well known for ‘Hwang Sung-ju Saengsik,’ Irom Global is a health food healthcare company engaged in the research, development, and sales of various health supplements such as saengsik (raw food), soy milk, and red ginseng.

F&Republic plans to actively target the convenient meal replacement and health supplement market in China by promoting a variety of products from Irom Global, including six types of soy milk, four types of saengsik, and fourteen types of health supplements.

An F&Republic official said, “Irom Global is a company leading new health trends through systematic research based on healthy food. Irom Global’s products, which include various killer items favored by Chinese consumers such as soy milk and red ginseng, are expected to have high demand even in China, where the saengsik culture is still unfamiliar.”

He added, “To successfully establish a foothold in the Chinese market, we will carry out aggressive marketing such as developing locally customized products and age-targeted strategies. In particular, we will expand the Chinese distribution network by launching collaborative products actively utilizing F&Republic’s flagship brand ‘JAYJUN’ and leveraging various online and offline channels such as wanghong and live broadcasts.”

Meanwhile, on the 16th, F&Republic conducted a third-party allotment paid-in capital increase worth approximately 16 billion KRW to expand new business areas and secure additional operating funds for its core business. This is expected to accelerate the improvement of its financial structure.