South Korean instant noodle giant Nongshim Co. announced on Tuesday plans to expand its product offerings in France’s largest retail chains, E. Leclerc and Carrefour. Starting next month, the company will introduce a diverse array of instant noodles and snacks, including the seafood-flavored Neoguri and vegan-friendly Soon Ramyun, beyond its flagship product, Shin Ramyun.
Nongshim’s strategy involves leveraging the upcoming Summer Olympics in Paris. The company intends to participate in the Korea Expo 2024 and the K-Street Festival, and will also set up pop-up stores at major French retail locations. These initiatives are part of a broader plan to use its expanded presence in France as a launchpad to enter additional European markets such as Spain, Italy, Sweden, and Denmark in the near future.
To support its ambitious expansion plans, Nongshim is also setting up a sales corporation in Europe next year. “With our partner Carrefour, we’re considering entering Belgium, Poland, and Romania as well as Spain and Italy, where Carrefour is already operating,” stated a Nongshim executive. This move is aimed at expanding the company’s customer base across Western and Northern Europe and increasing visibility through offline promotional events.
The expansion in Europe follows a successful year in 2023, where Shin Ramyun achieved a record 1.21 trillion won ($903 million) in global sales, marking a 14% increase from the previous year. Additionally, the company plans to ramp up its production line at its second US plant in October to meet growing demand for cup noodle products, which represented 63% of its total US noodle sales last year.
As part of its global strategy, Nongshim is also considering the construction of a new instant noodle plant in Korea, dedicated exclusively to exports, particularly targeting the European market. The decision on the location, possibly in Pyeongtaek or Busan, is expected by the end of this year. This development is poised to support the doubling of revenue in Europe to $61 million in 2023 from $25 million in 2019, highlighting Nongshim’s robust growth trajectory and commitment to serving the global market.
