Lion Corp. to launch overseas JV with detergent and surfactant manufacturer Peerless, will enter the Philippines market as part of plan to expand business overseas
October 28, 2011
– Lion Corporation launched its overseas operations in the 1950s and since then has steadily developed its overseas businesses, centering on oral care products and laundry detergents, in eight countries and regions* in Asia.
Under "Vision 2020"-the Lion Group's new management vision through 2020-Lion Corporation has positioned the "quantitative expansion of overseas businesses" as an important strategy. To achieve Asian business expansion in line with this strategy, Lion Corporation has explored opportunities to make inroads into the Philippine market, one of its new target markets in Asia. The Philippines is characterized by: (1) Asia's highest birthrate, at 2.4%, with the population of people aged 30 or younger accounting for 60% of the total population, and (2) a high economic growth potential, with the GDP growth rate at 7.6%. By establishing a new joint venture with PEERLESS, which boasts expertise in the local manufacture and sale of detergents and surfactants and has an extensive local retailer network, Lion Corporation will enter the promising Philippine market.