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South Korean cookware maker Lock & Lock Co. said Friday that its glass
container sales in China are estimated to have grown about 60 percent last year
on its efforts to tap deeper into the world's most populous country.
Lock & Lock's glass container business is estimated to have logged 70 billion won (US$65.8 million) in sales in China in 2012, up nearly 63 percent on-year from 43 billion won in 2011, company officials said.
With China's disposable income rising and Chinese people's eating habits being more westernized, demand has been growing for glass containers.
In 2010, Lock & Lock recorded 11.3 billion won in glass container sales in the world's No. 2 economy.
Increasing sales proportions of glass containers, which are two to 10 times more expensive than plastic containers, further enhances the company's business in China, they said.
China accounts for about 50 percent of the company's consolidated revenue.
Lock & Lock has production and sales facilities in six Chinese cities, including Shanghai, Beijing and Shenzhen. The South Korean company owns 100 percent of its China business.
The kitchen utensil maker aims to set up 1,000 franchise stores in China by 2015, compared to the current 100 stores.