Last Year Sales Surpassed 100 Billion Won
Surpassing the 'Absolute Stronghold' Maeil Dairies
[Asia Economy Reporter Lim Hye-seon] Ildong Foodis, a latecomer in the protein market, has overtaken Maeil Dairies’ Selex, the long-standing dominant player, to claim the number one spot in the market with its ‘Hi-Mune Protein Balance (Hi-Mune)’ product.
On the 5th, Ildong Foodis announced that last year’s sales of Hi-Mune increased by 330% compared to the previous year, surpassing 100 billion KRW. Since its launch in February 2020, the cumulative sales volume has reached a total of 6 million cans, which means one can was sold every 10 seconds. Chairman Lee Geum-gi of Ildong Foodis has now produced his second product to achieve 100 billion KRW in sales, following Ildong Pharmaceutical’s ‘Aronamin Gold.’ Products launched by Ildong Foodis go through Chairman Lee’s hands from development to release.
Breaking the 100 billion KRW sales mark proves the product strength of Hi-Mune and is significant in that it reclaimed the number one position in the fiercely competitive protein market within two years of its launch. Maeil Dairies’ Selex, which previously held the top spot, is estimated to have sales of 85 billion KRW this year.
As a latecomer, Ildong Foodis targeted a broad age range by offering customized health solutions for each life stage. They expanded their product line with ‘Junior Milk’ for growing children, ‘&(And) Body’ to help control body fat, and ‘Pro Active’ for athletes. The easy-to-drink ‘Hi-Mune Beverage’ also gained popularity among busy office workers. The expansion of distribution channels starting with home shopping and the Hi-Mune song advertisement led by Jang Min-ho accelerated sales growth. Starting with Lotte Home Shopping, more than 320 broadcasts have been aired across six major domestic TV home shopping channels. Over 70% of Hi-Mune’s sales come through home shopping.
The company cited excellent quality as the key to success. Hi-Mune is a health functional food containing goat milk protein, which offers superior nutritional content and digestibility among domestic protein supplements. The ratio of animal protein to plant protein is balanced at 6:4, and it includes essential amino acid leucine and collagen, which is important for skin and cartilage tissue. Additionally, it combines eight functional nutrients such as zinc, necessary for normal immune function, and vitamin D, which helps bone formation, gaining word-of-mouth popularity among consumers.
‘Milk powder company’ Ildong Foodis had struggled with poor performance due to the low birthrate. Its sales decreased from 150.9 billion KRW in 2016 to 114.7 billion KRW in 2019, and it suffered losses for three consecutive years starting in 2017. The atmosphere changed after the launch of Hi-Mune. Last year’s sales reached 139.1 billion KRW, a 21% increase from the previous year, and the company successfully returned to profitability. This year, sales are expected to reach 200 billion KRW.
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