Baking Overseas
The SPC Group announced on Dec. 28 that it has opened Paris Baguette’s 200th overseas shop in Shanghai, China.
Paris Baguette has become the nation’s first bakery chain to open its 200th overseas outlet. The accomplishment comes 11 years after it first tapped into the global market in 2004 and three years after it opened its 100th overseas outlet in Cao Tang, Vietnam, in 2012.
Paris Baguette’s Lingyun Square shop is the 23rd franchise store in China. With the opening of its 200th overseas outlet, the SPC Group has expressed a desire to accelerate its overseas franchise business.
Since opening the first overseas store, the SPC Group has been directly operating its overseas outlets in France, the U.S., Vietnam and Singapore to date, except for China. Based on Paris Baguette’s brand power and management experience in overseas markets, the group is planning to propel its overseas franchise business.
The SPC Group plans to open more than 100 overseas Paris Baguette stores, which are set to be opened next year, mainly under franchise. With the expansion of its franchise business, the group aims to open more than 2,000 shops in the G2 markets – China and the U.S. – by 2030.
At the event marking the 70th anniversary of the company in October, SPC Group Chairman Hur Young-in said, “As we will open 12,000 stores across the world and create more than 100,000 jobs by 2030, we will develop global markets into a workplace for young people.”