The company is based in the UK, exporting Korean culture through their product - monthly cultural subscription boxes delivered. The company currently ships internationally about 5000 boxes to over 35 countries. The company wishes to increase network of suppliers in South Korea, and is looking for partners such as wholesale suppliers or as a partnership for future themed boxes. The SME foresees this relationship to be under a distribution agreement.
Established in 2016 in the UK, the SME developed an online platform that provides a taste of South Korea through a conveniently packaged monthly cultural box including Korean skincare, snacks, culture merchandise and educational and trends magazine (language, culture, entertainment, recipes and more). Subscribers can order a subscription, one off boxes or one off individual products on the website
Alongside the "culture" subscription box, the company also offers a "taster" box at a lower price point, a "beauty" sheet mask set, and one off merchandise products on the shop website.
The company is looking for partners in South Korea, or partners based elsewhere but trading South Korean products and with brand synergy who are interested in a distribution agreement that will enable them to reach new target markets.
- Type of partner sought: The partner should be keen on expanding into the international market with focus on UK, US, Canada or European markets. Potential partners will need market research and information on international customers and buying behavior. The partner sought will have products that are representative of Korean culture such as beauty items and merchandise (e.g. souvenirs, stationery, small fashion items, Kpop) to be included in the boxes.
- Specific area of activity of the partner: The partners sought should be willing to expand into international markets with focus on UK, US, Canada or European markets. They will need market research and information on international customers and buying behaviour. Potential partners will have products that are representative of Korean culture such as beauty items and merchandise (e.g. souvenirs, stationery, small fashion items, Kpop) to be included in the boxes.
The company has a strong foothold on the international market, particularly concentrated in the US, UK, Canada and Germany.
The company has accrued a large following on social media accounts and as an established brand in the industry, customers in the market are aware of the brand name.
The UK company can offer space for South Korean suppliers wishing to provide their products to be featured in the box as a means for the South Korean company to expand and tap into the international markets, particularly those mentioned above. The South Korean companies can expect to benefit from international exposure, market research and gain knowledge on the customer profiles as well as have a means to reach these markets with minimal risk. The company will promote the products on social media, blog and website for brand awareness and customers after receiving the box will generate feedback, unboxing images of the products.
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