Taiwan FamilyMart Co (全家便利商店), the nation’s second-largest convenience store operator, yesterday unveiled its own brand, featuring 200 items, hoping to boost revenue by 25 percent annually.
The brand, called “FamilyMart collection,” includes daily necessities and food products sold at competitive prices.
TREND
“Establishing an own brand is a trend in the retail sector,” FamilyMart president Chang Ren-dun (張仁敦) told a press conference.
The convenience store operator’s survey showed that own-brand products have a market value of about NT$10 billion (US$337.25 million), encouraging major retailers to launch their own brands to offer a diverse range of products, FamilyMart said in a statement.
In addition, the gross margin of own-brand products compared with other products, which could raise the company’s profitability, Chang added.
7-ELEVEN
President Chain Store Corp (統一超商), which operates the nation’s largest convenience store chain, 7-Eleven, launched its own brand “7-SELECT” in 2009, with beverage products as its focus and later extending it to cover food and other products.
Currently, the brand covers about 300 products. Selling own-brand products has been a major driver behind President Chain Store’s profitability, with a gross margin staying at 32 level in the third quarter.
FamilyMart shares rose 2.49 percent to NT$185 yesterday — before the company announced the news in the afternoon — outpacing the GRETAI Securities Market, which rose 1.07 percent.
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