Pulmuone Focuses on the 'E-commerce Market'... Signs Joint Marketing Agreement with 11st

On the 16th, at the 11th Street headquarters of Seoul Square in Jung-gu, Seoul, Lee Sang-bu, Chief Strategy Officer of Pulmuone Co., Ltd. (right), and Lee Sang-ho, CEO of 11th Street, shook hands after signing a joint marketing agreement (JBP).

[Asia Economy Reporter Choi Sunghye] Pulmuone has entered into a joint marketing agreement with commerce portal 11st to expand the e-commerce food market.

On the 17th, Pulmuone announced that it signed a 'Joint Business Plan' (hereinafter JBP) at 11st's headquarters in Seoul Square, Jung-gu, Seoul, with executives from both companies including Lee Sang-bu, Director of Strategic Management at Pulmuone, and Lee Sang-ho, CEO of 11st.

JBP refers to a strategic business partnership where manufacturers and distributors collaborate by sharing core competencies, from consumer analysis to marketing strategies, to boost sales.

This agreement was promoted with the purpose of maximizing e-commerce food growth by establishing a strategic partnership between the two companies, which had previously engaged in one-off collaborations such as pre-launching new products exclusively on 11st and exclusive product configurations. Going forward, both companies will carry out various 'joint marketing' activities combining their business know-how and consumer data.

11st plans to expand Pulmuone's exclusive products and showcase differentiated promotions using diverse marketing tools such as 11st's video review service, store, and content services. Additionally, they will jointly plan differentiated products and storytelling content leading food industry trends such as 'Home Meal Replacement (HMR)', 'Eco-friendly', and 'Direct from Production Area' to attract younger millennial customers.

Pulmuone plans to conduct precise target marketing by combining 11st's big data of approximately 34 million consumers. Last year, Pulmuone confirmed the growth potential of the e-commerce food market as sales of products like 'Yalpi Dumplings', 'Mozzarella Hot Dog', and 'Toy Cookie' surged on 11st, tripling compared to the previous year.

This year, Pulmuone plans to actively grow the e-commerce food market by diversifying categories from a company-wide perspective. It will strengthen online sales of calorie-controlled lunchboxes 'Eat Slim' delivered daily by Pulmuone Green Juice, premium baby food 'Baymil', and animal welfare products from LOHAS Fresh Market Orga Whole Foods, a Pulmuone affiliate.

Lee Sang-bu, Director of Strategic Management at Pulmuone, said, "Starting with this agreement, we will plan differentiated products with 11st to introduce products and services that meet the needs of the younger millennial generation."

This content was produced with the assistance of AI translation services.