By Lee Yoo-jin and Choi Mira
South Korea’s leading discount store chain E-Mart Inc. will invest in making a film featuring Electro Man, a character representing its home appliances store Electro Mart, in hopes that character-driven content would bolster sales at its electronics retail business.
E-Mart announced Wednesday that it will establish a special purpose entity with a capital of 10 million won ($8,923), which will be in charge of film-making businesses ranging from attracting investment to production and distribution. Its aim is to produce a movie featuring Electro Man as a superhero. After the movie is released in 2020 as planned, the special purpose company will be liquidated.
“The investment is aimed at developing content based on Electro Man and raising profits through sales of products featuring the character,” said an official from the company.
E-Mart expects the upcoming movie about its electronics retail store’s character would help boost sales at the retail stores.
The company has been seeking to expand contents business as the group’s vice chairman Chung Yong-jin at the helm of E-Mart is emphasizing the importance of unique characters and story telling behind marketing. Chung is said to have been inspired by the success of content business of Disney Land and Universal Studio in Los Angeles where he recently visited, according to sources. E-Mart plans to actively use the Electro Man character in its marketing after the film’s release.
The retail unit of Shinsegae Group opened the first electronics specialty store Electro Mart in June 2015 and now runs more than 20 stores across the country.