Expansion continues with new partnership in Seoul, Korea
COCO-MAT continues international expansion by signing a franchise agreement with Korean company HaaNong Co., Ltd. The agreement grants HaaNong Co. exclusive rights for the sale and distribution of COCO-MAT products in the metropolitan area of Seoul, South Korea’s dynamic capital city. This marks COCO-MAT's entry into a second major growth market in Asia, following China.
HaaNong Co. plans to open an average of three COCO-MAT shop-in-shops each year, in major department stores. The first of these shop openings is expected for April 2012. In the more immediate future, HaaNong Co. will begin by operating a temporary display of COCO-MAT in one of its existing showrooms. Furthermore, HaaNong Co. expects to also create a stand-alone COCO-MAT store, as soon as a suitable location is found.
Maria Warming Brink Tsalapati, Head of International Business Development at COCO-MAT, says: “Our natural and hand-crafted products strike a note with a sophisticated clientele in South Korea. We have great trust in the experience and ability of our new Korean partners and believe that our sleep products will be an immediate success with private and commercial customers. With HaaNong Co. Ltd. we celebrate a great addition to our international COCO-MAT family.”
Established in 1994, HaaNong Co., Ltd. enjoys exclusive contracts with a number of world renowned brands, including Italian wood flooring company Listone Giordano, Japanese Toyo Kitchen and Italian mosaics producer SICIS. Its showrooms are an attraction for designers, architects and private individuals. HaaNong Co. is dedicated to raising the housing and living culture in Korea and is already supplying large corporate clients such as Samsung, Hyundai and Lotte and exclusive hotels such as the Ritz Carlton and Banyan Tree. COCO-MAT products will allow HaaNong Co. to cover additional market segments for sleep products and home furnishing.