South Korea’s discount-store chain Daiso, operated by Asung Daiso, topped 4 trillion won ($3 billion) in sales for the first time last year, fueled by rising demand for budget-friendly goods amid prolonged inflation.
The company posted 4.53 trillion won in revenue and 442.4 billion won in operating profit on Tuesday, up 13.4 percent and 19.2 percent, respectively, from a year earlier.
Expanded offerings in cosmetics, fashion and health supplements helped drive the growth, while seasonal lines such as summer cooling goods and Christmas collections also proved popular, according to the company.
“Asung Daiso will continue to expand its store network and logistics system to ensure a stable supply of fixed-price products,” the company said in a statement.
junheee@heraldcorp.com
