Myungdo P&G Co., LTD, a Korean food trading startup, has been bringing in some of the finest confectionery and snacks from European shores to the Asian continent. Myungdo has been into importing and exporting of snacks, candy, confectionery from Indonesia and Italy, Vietnam, Germany and distributing it to Korean Major channel with Korean OEM snack.
Importing healthy, tasty food
Myungdo started the business as an importer from May 2010 and in 2012, the company has established as a corporation. The startup imports some of the finest of world’s confectionaries with brands like Misura & Nattura from Italy, Bahslen from Germany, Jans from Los Angeles, Huunghi from Vietnam and Mayora from Indonesia. The range of products that Myungdo imports include crackers, wheat biscuits, cereals, etc., with high-protein, gluten-free-type healthy options.
The startup’s aim is to bring in healthy snacks from across the world to local markets and make it fairly affordable to all. The company has also opened a distribution channel with partnerships with major store chains like 7-Eleven, GS25, CU, Mini Stop, Emart 24, markets like Emart Traders, Lotte Mart, GS supermarket and drug stores like Olive Young, Lobs, Lalabla, Boots, etc. The company has also made its digital presence with partnerships with online companies like Coupang, Market Kurly, Naver, GS Fresh, etc.
Looking to expand in Asia
The company has grown in revenue and sales over the years since its launch and has recorded its best number in annual sales in 2017, which was 10 million won in 2017. Myungdo’s 2018 revenue stood at $6 million and the startup is expecting revenue of $8 million in 2019 with further expansion to other Asian markets. The company is looking at opening its distribution and sales channels in Indonesia in the near future. Myungdo will be visiting Jakarta, Indonesia on October 2019, as part of a Korean startup forum to present its products and strategy to potential partners and investors.