MASTERPIECE WITH 118 YEARS OF HERITAGE: ‘CHEONGKWANJANG’
CheongKwanJang of KGC, a luxurious brand of Korea that has inherited the tradition of the Korean Red Ginseng having the pride of Korea that is the birthplace of ginseng over 118 years. Let’s meet world’s No. 1 ginseng brand*, CheongKwanJang that is in limelight as a leading brand with new engine of growth for the global travel retail industry at this 2017.
If you are looking for a new market or a new brand that will lead the travel retail industry at TFWA Asia Pacific Exhibition & Conference 2017, it is needed to focus on KGC’s Korean Red Ginseng brand, ‘CheongKwanJang’ that is the iconic masterpiece of Korea in which various industries prefer for their test bed.
Along with the modifier, ‘Brand trusted and chosen by Chinese tourists’ in the Korean travel retail market, which is the number one in the world in its size, CheongKwanJang has shown a CAGR of 20% for the last seven years: As a single item, it takes 2.5% of the market share at the Korean travel retail market, leading the travel retail market exceptionally among the supplement brands.
In 2016, CheongKwanJang was selected as the brand with the second highest revenue (1: KT&G, 2: CheongKwanJang) at Incheon International Airport duty free shops and in the same year, the monthly sales amounted to US$6.42 million, proving its competitiveness in the travel retail industry. The main customer of CheongKwan-Jang at Korean duty free shops are Chinese tourists, in addition to foreign tourists from Japan, Southeast Asia, and the US, and its growth potential in the global market has been verified.
For 118 years, CheongKwan-Jang has adhered to the principle based on the reliability and careful and thorough anufacturing process that takes a long time from raw materials to produce a product. So, customers have high credibility on its quality. It has produced its products after going through a strict quality management that conducts 290 kinds of safety tests over seven times from soil management to producing end-products. CheongKwan-Jang’s thorough manufacturing process has received redibility from choosy Chinese customers and CheongKwanJang has been recognised as a Korean Red Ginseng brand trusted and chosen by Chinese tourists.
In addition, CheongKwanJang is not complacent with its existing bestselling products. Rather, it has developed new products in line with the customers’ needs that have been diversified while establishing leadership in the global supplement market.
CheongKwanJang has invested 20% of its annual operating profits into R&D and set a new trend in the supplement market by developing new and innovative products that fit into consumers’ lifestyle.
On top of that, since launching a stick type product, ‘Cheong-KwanJang Korean Red Ginseng Extract Everytime’ that helps customers easily consume the product anywhere anytime, while stressing the portability fit into the lifestyle of young generations targeting 20s and 30s, it has become a representative product of CheongKwan-Jang and foreigners who visit the duty free shops have been fond of this product as a gift.
TARGETING GLOBAL TRAVEL RETAIL
KGC has prepared for pre-emptively tapping into the global travel retail industry by initiating the efforts of creating the supplement category with CheongKwanJang. It is planned to dominate the supplement category market by strengthening its global business through its debut at TFWA Asia Pacific Exhibition & Conference 2017.
In addition, CheongKwanJang unveils new strategic products – the ‘CheongKwanJang Korean Red Ginseng Plus series’, launched to target the global travel retail industry. The ‘CheongKwanJang Korean Red Ginseng Plus series’ mixes recent functional ingredients required by each age group or gender based on Korean Red Ginseng that demonstrates the efficacy of immunity and anti-oxidation. It will be a good gift for the health of family like parents, children or spouses, when traveling or having a business trip.
Given the character of the travel retail industry, the package is light and easy-to-carry, and by applying a colour strategy differentiated with other existing products, it reflects the core concept of each product with a colourful sense.
*Source: Eur omonitor Int ernational Limit ed, Vit amins and Diet ary Suppl ement c ategory; % r etail v alue shar e, 2007-2016 dat a. CH2017 edition
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CHEONGKWANJANG’S NEW PRODUCT
• For parents, ‘POWER+’ that invigorates with Korean Red Ginseng, Maca and Octacosanol, ‘ENERGY+’ that boosts immunity and recovers fatigue with Korean Red Ginseng, Milk Thistle and Hovenia Dulcis Fruits and ‘BEAUTY+’ that brightens inner beauty with Korean Red Ginseng, Collagen and Hyaluronic Acid are recommended.
• ‘FOCUS+’ that provides immunity and nutrition to brain with Korean Red Ginseng, EPA and DHA and ‘KID+’ that promotes growth, immunity and healthy intestine with Korean Red Ginseng, lactobacillus and calcium are prepared for students and children respectively.
• ‘GINSENG+’ is a product that could feel the power of pure Korean Red Ginseng wholly with powder of Korean Red Ginseng for male and female aged 20 years and more to comfortably enjoy it.