BBQ Chairman Yoon Hong-geun "Expecting Record High Performance in 25 Years Since Founding... Will Become the World's Largest Franchise"

Expansion to over 32 countries starting with China... Overseas sales exceed 40 billion KRW
"Goal to open 50,000 franchise stores worldwide by 2025"

[Asia Economy Reporter Choi Saeng-hye] "BBQ has spent the past five years persevering with a bleeding heart and has made every effort to normalize sales. We will inherit and develop BBQ's unique DNA accumulated over 25 years, open 50,000 franchise stores worldwide by 2025, and grow into the world's largest and best franchise company."

Celebrating its 25th anniversary, the chicken franchise BBQ has declared a new leap forward. It aims not only to become the industry leader but also to stand tall as a global franchise company. At the 25th anniversary event held on the 1st, Yoon Hong-geun, Chairman of Genesis BBQ, stated, "BBQ has grown by turning every crisis over the past 25 years into an opportunity," adding, "Even amid the rapidly changing economic environment following the recent COVID-19 pandemic, we have continued to grow by leveraging our experience and know-how in overcoming various crises."

Yoon, who founded Genesis BBQ in 1995 and became its CEO, has written a legendary story including opening 1,604 franchise stores (families) as of last year, expanding overseas to more than 32 countries starting with China in 2003, and surpassing 40 billion KRW in overseas sales. Despite various industrial crises such as the IMF foreign exchange crisis, avian influenza, the Lehman Brothers collapse, and most recently COVID-19, the company has sought new growth opportunities and overcome challenges.

Especially this year, when the entire dining industry was hit hard by COVID-19, BBQ is expecting record-breaking performance. BBQ was the first in the industry to lead crisis management in the sector affected by COVID-19 through CSR activities such as family disinfection and mask support, and product support for volunteers.

The Hot Golden Olive Chicken, launched last April amid severe economic difficulties caused by COVID-19, has successfully settled in as a steady seller. BBQ has also actively taken on new challenges. At the end of June, it introduced BSK (BBQ Smart Kitchen) stores, creating a sensation in the startup market. BSK stores are a model specialized only in delivery and takeout, developed by BBQ to align with the untact trend in the post-COVID era, targeting the 20-40 age group hoping for low-capital startups.

In July, BBQ partnered with Microbrewery Korea, which operates Oktoberfest, to develop six types of "BBQ Beer," opening the era of a craft beer private brand for the first time in the domestic chicken franchise industry. To facilitate smooth craft beer business operations, BBQ is additionally constructing its own brewery in Icheon, Gyeonggi Province. After completion in 2021, it will be able to produce beer independently.

On the 7th of last month, Chairman Yoon personally engaged in active communication with consumers and families through events like "Nego King," leading to the highest sales through bold investments even amid crisis. In the web variety show "Nego King," first released on the YouTube channel "Dalla Studio," Yoon decided on a dramatic discount of 7,000 KRW for a month, achieving weekend sales of 6.5 billion KRW. This figure represents an 88% increase compared to the same period last year (August 7-9, 2019). Through the event, the industry’s fastest membership sign-up surpassed 1.9 million, and significant achievements such as the 100th BSK contract were made.

Chairman Yoon said, "In today's era, following what others have succeeded in is already too late," adding, "The environment is changing rapidly, and consumer behavior is also changing swiftly." He continued, "A culture that boldly tries new innovations without fear of failure is the first step for BBQ Group to achieve exponential results," and requested, "As a founder and CEO, I ask for the interest, tireless efforts, and support of all employees and family store owners for the next 100 years to maximize the value and business potential of the BBQ brand."