Appointment of LM as Korean partner consolidates Asian operating model
International beauty packaging manufacturer and provider Quadpack has appointed Korean packaging manufacturer LM as ‘Quadpack Official Partner', to help accelerate its penetration of the Asian market. Along with the agreement with Yuga in China announced in February, Quadpack is establishing partnerships in a new, regional operating model designed to help build the Quadpack brand, increase market share, improve local service and share value with stakeholders.
Raj Savji, Quadpack Managing Director – Asia Pacific, said: “The big Asian packaging markets are measured in € billions, with Korea alone worth €1.1 billion. To conquer this region and to fulfil the objectives of our 2020-2025 business strategy, we turn to our trusted partners. With common values, complementary strengths and established reputations, these key industry colleagues will extend our reach and enrich our service, as we deliver solutions in the region, for the region.”
In selecting partners for its expanding global network, a number of key attributes are required to qualify. These include sustainable processes, category leadership, impeccable reputation, client reach and added value such as manufacturing or access to new market segments.
LM, based in Seoul, Korea, is a well-established packaging manufacturer, with a strong presence in derma skincare. It has first-class facilities to produce, assemble and decorate components from Quadpack's QLine portfolio of smart, modular solutions. Yuga, based near Shanghai, China, already manufactures selected QLine components. Together with Quadpack's European manufacturing facilities, the partners will enable the company to enhance its offering and meet the needs of the Asian markets.
As the partner network evolves, Quadpack aims to expand the QLine portfolio with solutions designed for local markets with the help of its partners, where possible through co-creation and collaborative innovation.
Quadpack's presence in the Asia-Pacific region also includes an office in Tokyo, Japan, inaugurated one year ago. With a growing team, it is building relationships and fostering partnerships in this key Asian market. Longest-established is the Melbourne office, which services Australia and New Zealand directly, with plans for stocking and local manufacture for faster time to market and a lower carbon footprint.
The operating model built on official partnerships will be considered for other regions to complement direct sales and support. Historically, however, for Quadpack, growth through collaboration is not a departure, but rather a return to its roots.
“Collaboration is in our DNA,” said Quadpack CEO Tim Eaves. “Quadpack itself started as a partnership of three companies in 2003: Belcos Packaging, Lenglart Packaging and Gadbrooke Packaging, each of which worked with partners worldwide. In fact, LM CEO Michael Lim is one of my oldest contacts from Belcos, going back nearly two decades. I am delighted to renew our friendship and welcome our new partner to the Quadpack family.”
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Full and original press release in PDF: https://www.actusnews.com/news/69950-qp-apac-korea-expansion-pr.pdf