Lotte announced on the 8th that it will hold the 'Lotte-Republic of Korea Brand Expo' (Brand Expo) in Paris, France, over two days from the 12th to the 13th.
The Brand Expo is a program to help excellent domestic small and medium-sized enterprises enter foreign markets, held jointly by Lotte and the Korea Trade-Investment Promotion Agency (KOTRA), as well as the Small and Medium Business Corporation. It supports product exhibitions and export and import consultations in overseas locations.
The Brand Expo was first held in Taiwan in 2016 and has since assisted domestic small and medium-sized enterprises in entering foreign markets in 17 countries, including the United States, Vietnam, Indonesia, and Mexico. By last year, a total of more than 1,460 small and medium-sized enterprises had participated, conducting about 10,000 consultations, with the consultation results amounting to $1.09 billion (approximately 1.6 trillion won).
This Brand Expo, held in Paris, France, will feature 50 excellent domestic small and medium-sized enterprises aiming for entry into the European market. Participants in the export consultation meetings of the Brand Expo will include representatives from distributors in 13 European countries, including France, Germany, and Spain.
During the export consultation meetings, consultations will take place between the domestic small and medium-sized enterprises that were determined through a preliminary demand survey and local distributors, discussing know-how for entering the European market and product localization strategies.
During the event, buyers from five Lotte affiliates, including LOTTE Homeshopping, Lotte Department Store, and LOTTE Wellfood, will meet with French companies to participate in import consultations that support their entry into the domestic market. LOTTE Homeshopping will conduct live commerce in France from the 9th to the 12th, introducing products that received a good response from local customers at the Brand Expo, as well as excellent French products to domestic customers.
Before the event, Lotte and domestic small and medium-sized enterprises participating in the Brand Expo are taking part in the 'Comprehensive Exhibition in Paris, France,' which runs from the 30th of last month to the 11th of this month. The exhibition booths are centered around the products of the participating corporations, and they will simultaneously conduct promotional activities and sales to practically verify the marketability of each product.