Korean food-maker Nongshim said Thursday its sales in China surged 16.6 percent to reach $210 million last year, its best performance to date, thanks to the rising popularity of instant noodles in the country.
“Our sales growth in China reflects a positive evaluation of Nongshim’s instant ramen noodle products among locals,” Nongshim said in a statement.
Nongshim said its rising brand power drove up its online sales by about 240 percent in 2015 compared to the previous year. The firm reportedly racked up roughly 400 million won in sales on Nov. 11, or “Singles Day” in China, alone.
The growth of the brand’s online sales as well as sharp increases in sales in the inner cities of China such as Wuhan (94 percent), Chengdu (79 percent) and Jinan (150 percent) also attributed to the company’s overall sales hike in 2015, Nongshim said.
Established in 1965, Nongshim has been leading Korea’s instant noodle and snack market with steady best-sellers including Shin Ramyun, its flagship spicy ramen noodles, and shrimp-flavored snack Saewookkang.
The Korean processed food company has set its sights on logging more than $300 million in sales in China this year by increasing its monthly ramen production capacity at its Shanghai plant in August — from 1.8 million to 2.2 million boxes — and further promoting its bottled water brand Baeksansu.
By Sohn Ji-young (firstname.lastname@example.org)
February 4, 2016 at 2:45 pm