The export destinations of the company’s products will be expanded from the current 100 to more than 130 later, creating another legend at the global level based on the legend in Korea. Local manufacturing plants will be constructed worldwide to meet the increasing overseas demands. With the completion of the 1st plant in Weihai City, Shandong Province, production capacity has reached USD 50 million annually; thus showing excellent performance as the bridgehead to the domestic Chinese market as well as exports. Moreover, the Suzhou plant in Jiangshu Province was completed in October 2007 as a manufacturer for the domestic Chinese market as well as an outsourcing station for overseas markets. A plant in Vietnam was operated in April 2009.
Rather than being confined to such investment in production infra, Lock&Lock shall strengthen its overseas PR activities and marketing to become a globally recognized kitchen storage canisters brand.
Furthermore, Lock&Lock will expand its business beyond being a company specializing in airtight containers (kitchen storage canisters) to a comprehensive kitchenware brand. By expanding our product lines from Lock&Lock airtight containers to household items and kitchenware, we shall simultaneously diversify products' materials and usages to take a great leap forward as a global enterprise leading living cultures.
Finally, Lock&Lock will make substantial social contributions as a global company. To date, we have developed various forms of social contribution domestically and overseas such as service to needy neighborhoods, material support, and provision of scholarships. For its social contribution, the company will concentrate on multicultural families beginning year 2009 to enable family members to adapt to Korean culture. Specifically, we shall provide substantial human and material support to realize ultimate harmony.
Lock&Lock will exert every effort to realize these goals together with its customers. We pursue these visions, believing services to our customers to be the most important.
|From a mere KRW 14 billion in 2000, the growth of our sales has been remarkable. In fact, our sales grew tenfold to KRW 160 billion in 2006 and doubled to KRW 300 billion in 2008.
In line with such rapid growth, Lock&Lock will secure 20% share in the global market for airtight containers (kitchen storage canisters) until 2012 to become a global leader in kitchen culture. Toward such end, we shall be guided by four intermediate goals: seeking more diverse materials, selecting and focusing on the company's capabilities, gradually increasing the global market share, and expanding brand areas.
Lock&Lock has concentrated on securing more diverse materials such as porcelain, glass, and stainless steel aside from plastic material, which enjoys a 90% share in the airtight container (kitchen storage canisters) market. We shall continue to exert efforts toward further development in this area.
Moreover, the company will set its sights on the Chinese market whose growth potential is the biggest by developing Chinese branches as the base for global expansion. The company will record KRW 200 billion annual sales by 2010 in China as the top brand in kitchenware and promote investments and capabilities in emerging markets such as Vietnam and Thailand to develop such countries as strategic key points for the ASEAN market.