Expanding Business in Southeast Asia
Best known for its Paris Baguette bakery franchise, SPC Group has opened four food brand stores in Singapore. The group is planning to make Singapore as its third axis of global growth after China and the United States.
The group opened the new stores at Jewel Changi, a commercial complex connected to Changi Airport in Singapore, on April 17. The four food brands include Maison de PB, the first high-end brand of Paris Baguette; Coffee@Works, a special tea and coffee brand; and Shake Shack, a burger brand.
Jewel Changi is a seven-story lifestyle complex built as part of the Singaporean government’s Chingi Airport development projects.
Maison de PB serves not only bakery products but also various meals which go well with bread such as “Beef On The Stone” and “Signature Seafood Pasta.”
Coffee@Works has opened its first overseas store at Jewel Changi. Currently, it operates a total of 12 stores in South Korea. Shake Shack has also opened the first store at the complex after it obtained a license for business operation in Singapore in October last year.
Singapore is the third largest market in SPC Group’s global operations. Paris Baguette has 12 stores in Singapore, including the one at Jewel Changi. Although the number of stores in Singapore is less than the 14 in Vietnam, sales in Singapore, which came to 14.90 billion won (US$13.13 million) last year, are nearly three times higher than those in Vietnam.
SPC Group is seeking to establish a holding firm in Singapore. It is planning to build a base in Singapore, which is considered a hub of logistics, finance and business in Asia, and expand its business to neighboring Southeast Asian countries.
The group is also seeking to build a Halal certified production facility to target Muslims and the global Halal food market. It will establish the facility in the Southeast Asian region in order to target Muslim countries, Including Indonesia and Malaysia and will set the exact time and place in the future.