Lock&Lock is a global brand loved by homemakers in over 100 countries worldwide, with more than 90 directly managed stores overseas in addition to its 5 manufacturing plants in China and Vietnam including Korea.
Known for its legendary “Sold Out” stories in global places such as US, Europe, and China, Lock&Lock has earned recognition in foreign countries for its product competitiveness even before making a name in Korea. We expand our manufacturing plants overseas and concentrate on local marketing worldwide, targeting wider and bigger markets.
Lock&Lock became a sensation after selling all of the 5,000 product sets at the debut home shopping show in QVC, the largest home shopping TV channel in the US. In other words, being featured on the channel alone is already a major feat.
As a global brand, Lock&Lock was selected as QVC's “Today’s Special Value” twice in March 2003 and in January 2004 in addition to its phenomenal sellout of 59 thousand product sets in September 2007 and 125 thousand product sets for TSV channel alone in August 2008.
Moreover, Lock&Lock set a record for having sold 466 product sets per minute at the German QVC channel in March 2004, all products in just 6 broadcasts, and 40 thousand product sets per day in May.
Moreover, the product quality of Lock&Lock has been recognized, having been named “Best of the Best Sellers” by the highly influential house ware magazine "Houseware" in 2003 and ranked second among the Top 25 Excellent Items in 2007. Lock&Lock products are also showcased in Harrods Department Store, which caters to the Royal Household.
Meanwhile, Lock&Lock enjoys a good reputation among buyers in the four largest house ware exhibits (Chicago, Frankfurt, China, and Hong Kong); thus securing a global position as one of the most recognized brands.
To achieve its goal of becoming the world’s top company by 2013, Lock&Lock has expanded its businesses directly to emerging markets in Vietnam, Thailand, Indonesia and India where it is currently conducting aggressive marketing.
Since the establishment of the Shanghai subsidiary in 2004 in an attempt to secure the Chinese market catering to 1.3 billion people as the largest market in the world, we have established branch offices in 17 cities in addition to Beijing and Shenzhen and recorded a growth rate of more than 90 times for the last 5 years in the Chinese market. Moreover, we posted sales of USD 77 million in 2008, accounting for 1/3 of the entire Lock&Lock sales for the year. We also constructed the Suzhou plant -- which manufactures products for domestic use as well as for export -- in Jiangshu Province on a 95,000m² lot in October 2007 in addition to the Manshan plant in Shandong Province. Our brand has been established as one of the most popular brands in China, thanks to consistent promotion through various PR activities and advertisements utilizing Korean movie stars and local opinion leaders as parts of efforts to sustain the company’s growth in China.
As a result of its efforts, Lock&Lock topped the “Homeware Products Retaining Freshness of Food” division in the “4th Survey of Brand Satisfaction in the Chinese Market” in August 2006 a mere two years after its initial entry into China, outperforming even the famous global companies. In addition, Lock&Lock was selected as one of the "Most Popular Brands in Shanghai" for three consecutive years from 2006 to 2008 together with global brand names such as Nike and Phillips. An RI research (surveying 900 persons) actually revealed that Lock&Lock recorded the highest brand recognition rate in Beijing, Shanghai, and Guangzhou among airtight containers with 99% brand recognition rate in Shanghai. Moreover, Lock&Lock was selected as the official sponsor of the Ministry of Sports in China in May 2007; specifically, Lock&Lock airtight containers were designated as the exclusive products to be used in the Chinese national athletes' village.
In an attempt to penetrate the enormous Chinese retail market without restricting its activities to manufacturing products in China, Lock&Lock has expanded its distribution network in various ways including establishing directly managed stores nationwide and occupying high-grade department stores and large-scale discount stores. The approximately 1,000 existing distribution channels will be expanded to 2,000 gradually including 50 flagship shops and franchise stores to dominate the huge market catering to 1.3 billion people. In particular, the franchise business will be the focus to widen the distribution network in China.
Lock&Lock's advance into Vietnam is currently being executed based on a high-end market positioning strategy. The entry into Vietnam had officially been initiated in 2004, with the local subsidiary in Vietnam established in 2007 to reinforce local sales and marketing activities.
Marketing is actively being promoted focusing on the four largest consuming cities including Hanoi, Ho Chi Minh, Haiphong, and Danang; a manufacturing plant on a 70,000m² lot near Ho Chi Minh City was completed in April 2009. Products to be manufactured in the plant are exporting to nearby Asian countries considering the advantageous privileged tariff; for the Vietnamese market, however, imported original Lock&Lock products made in Korea will be supplied for a while.
Although about 24 directly managed stores are currently clustered in four Vietnamese cities, the distribution network will be expanded to the entire nation later. Sales in Vietnam in 2008 stood at around USD 800 thousand; the sales goal in 2009 was set to USD 5 million.
Lock&Lock develops human resources in Vietnam by selecting promising local college students who will be given the chance to study in Korea as well as job opportunities in Lock&Lock. The company will establish a bridgehead in Vietnam to capture the huge Asian market catering to half a billion population, developing the Vietnamese market diligently.
Since our initial entry in Thailand in 2003, we have recorded am average growth rate of 77.4% and posted USD 4.6 million in sales in 2010. We also established a joint venture company with Srithai Superware, which enjoys up to 80% share in the plastic tableware market in the nation. We shall exert every effort to gain an early competitive edge in newly emerging markets in Vietnam, Malaysia, Philippines, and Indonesia.