Metro enc’s LEMONDOR Contact with '杭州盛地生态科技开发有限公司'

to enter the Chinese market.

Metro E&C announced on the 15th that home-fragrance brand LEMONDOR signed a business agreement

with 杭州盛地生态科技开发有限公司(Hangzhou Rich Land Eco-technology Development Co.,Ltd.) on the 8th to enter the Chinese market.

Through this contract, Metro E&C expects to generate sales of about 100 million yuan (KRW 18 billion)

by supplying Perfume toothpaste, diffusers, fabric perfume, and mouse wash to the Chinese market over the next five years.

 It also plans to establish 100 single stores in key Chinese cities such as Beijing and Shanghai,

Hangzhou and Shenzhen by 2030 and achieve 30 billion won in annual sales.

According to Metro E&C, products that led K-beauty, such as mask packs and basic cosmetics,

have slowed down due to technological improvements by Chinese cosmetics companies and political issues related to THAAD,

while perfumes and home-presence products have recently shown high interest in the Chinese market.

"The Chinese beauty product market is currently growing by more than 30% every year in the size of the perfume market

such as Chanel, Dior, Jo Malone, and Diptyque

Metro E&C official said. "As income levels increase, interest in high-end lifestyles has increased."

He added, "Thanks to this situation, the company will soon open a flagship store based on Wan Sang-cheong,

a super-large shopping mall in China, led by a contract from a general agent in China."