Petland heads for Korea

The American franchise group Petland is to open a store in South Korea next spring. The outlet will form part of a 2000 m2 complex in the Korean capital Seoul complete with grooming centre, veterinary hospital, pet boarding facility and future puppy park. The expansion is the result of a development agreement between Petland and the Doosan Corporation, which is looking thereby to move into a new area of business covering the entire pet segment, including pet cremations and burials. Petland will be introduced into the Korean market under the name “Topet”, meaning “together with pets”. Doosan intends to open another 30 to 40 retail stores in the next five years.
The Korean pet market is estimated by Chul Jung Kim, vice-president of Doosan Corporation’s Trading Business Group, to be worth US$ 1.25 bn (€ 1.02 bn). Projected annual growth rates are in the order of 20 to 30 per cent. It is expected to attain a volume of $ 3.3 bn (€ 2.7 bn) by 2008. Petland currently operates pet stores in the USA, Canada, Japan, Chile and South Africa.