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Air-tight container, food containers, kitchenwares, housewares, brand shop, Korean Wave
FROM LOCAL TRADING FIRM TO A GLOBAL HOUSEHOLD NAME
When Chinese households look for a place to store their food they will likely reach for a Lock & Lock container. These sealable plastic containers have transformed what was a once small trading company into a global manufacturer. In only a few years, Lock & Lock has surged past its rivals to dominance in China's huge market. Lock & Lock is now one of China's top 10 brands, cementing a status mat has eluded many foreign firms for decades.
Lock & Lock containers became the preferred choice among Chinese consumers through their four-hinged, silicon sealed lids. Lock & Lock's patented technology provides airtight, leak-proof storage that is also simple to open and close - a combination of functionality and ease of use that has won loyal customers around the world.
Lock & Lock's containers reflect the company's strategy of carefully defining goals, and then committing itself completely to their realization. The company achieved this through thorough market research, adroit strategy, bold investments and continuous product improvements. This approach led the company to its namesake container design, its successful pioneering of overseas markets, and its further expansion into the non-plastic housewares market.
Although the company boasts 60 percent domestic market share its main source of revenue is the global market. Sales reached W477 billion in 2011, 65 percent of which came from foreign shoppers. Product diversification in recent years has seen Lock & Lock produce ceramic, glass and stainless steel containers, as well as cookware and household storage boxes. Collectively, these products represent 70 percent of sales.
As of 2012, Lock & Lock operates in 113 countries, and has 1,022 patent registrations around the world. Its remarkable success is even more notable in that it involves a corporate turnaround story, as the company that would become Lock & Lock nearly failed 14 years ago.
HISTORY
Switch to Manufacturing (1978-1996)
Lock & Lock's story begins with Kukjin Distribution Company, a trading firm established in 1978 after the Korean government liberalized import laws. Kukjin imported foreign goods and sold them to wholesalers at Namdaemun Market, Korea's oldest and largest marketplace. For the first seven years of...