Kormotech, Ukraine's largest producer of food for cats and dogs, has started exporting its products to the South Korean market, as reported by the company's press service.
According to the announcement, starting from June 17, Kormotech's brands Optimeal and Club 4 Paws are available on 12 specialized Korean e-commerce platforms.
The South Korean pet food market ranks third among East Asian countries, after China and Japan. In monetary terms, it is three times larger than the Ukrainian market, with specialized food for cats and dogs accounting for a 50-50 split.
"The uniqueness of the South Korean market lies in the fact that 67% of pet food sales occur through online channels. This is the highest figure in the world, according to Euromonitor reports. Therefore, one of the challenges in cooperating with South Korea is gaining experience in building and developing online sales in the premium and super-premium segments," said Eduard Babenko, Head of Strategic Business Direction for Ukraine, Moldova, and Southeast Asia at Kormotech.
Kormotech initiated negotiations with the distributor Careside Co. Ltd., a Korean company, last year, and a cooperation contract was signed in the fall. By the end of May 2024, the distributor received the first two containers of dry and wet food Optimeal and Club 4 Paws, totaling about 24 tons of products.
You Young Kook, CEO of Careside Co. Ltd., expects that Kormotech's international market experience and resources will help the Ukrainian manufacturer succeed in the South Korean market.
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"Kormotech's pet food contains high-quality ingredients and undergoes rigorous quality control. This is a significant advantage, especially for discerning Korean pet owners. It's impressive how the company continually deepens its expertise in understanding approaches to creating diets for pets and their impact on health and quality of life," noted You Young Kook.
Vladislav Mazurkevych, Manager of Asia Export Markets Development at Kormotech, stated that the company's super-premium and premium lines of cat and dog food are already available on 12 e-commerce platforms in South Korea, including Naver, Coupang, TM, WM, G-market, Auction, 11th St., Lotte On, Interpark, SSG, CJ on style, and GS Shop.
"By the end of this year, we aim to start cooperation with pet store chains and veterinary clinics, allowing customers to see and experience our products firsthand," Mazurkevych added.
In 2023, Kormotech's turnover increased by 22.5% to $152 million from $124 million in 2022. The ratio of sales abroad to those in Ukraine in terms of volume now stands at 31% abroad and 69% in Ukraine (compared to 28% abroad and 72% in Ukraine in 2022).
Kormotech's brands showed the most dynamic growth compared to last year's sales volumes in Romania (+35%), Poland (+11%), and Moldova (+11%). Last year, the company signed contracts with partners in Malaysia, started sales in Finland, and actively expanded its presence in Spain and Italy, reaching a total of 42 countries worldwide. In Ukraine, Kormotech maintains its leadership positions.
Established in 2003, Kormotech is a global family-owned company with Ukrainian roots specializing in producing high-quality food for cats and dogs under brands like Optimeal, Club 4 Paws, "Гав!" ("Woof!"), and "Мяу!" ("Meow!"). The company operates manufacturing facilities in Ukraine and the EU, offering over 650 product variations. Kormotech is a leader in Ukraine and ranks among the top 50 global manufacturers of pet food and the top 21 most dynamic pet food brands. Olena and Rostyslav Vovk are the ultimate beneficiaries of Kormotech.
