[Asia Economy Reporter Eunmo Koo] SPC Group announced on the 3rd that its bakery brand Paris Baguette ranked 25th in the 'Top 500 Franchise Companies' selected by the American franchise magazine Times. This is a rise of 13 places from last year (38th) and the highest ranking among domestic companies.
An SPC Group official said, "Through 77 years of accumulated baking technology, bakery operation know-how, and active research and development (R&D) investment, we are gaining recognition even in the franchise homeland, the United States," adding, "We will strengthen our North American market strategy in the US and Canada while accelerating our global business in various forms such as joint ventures and master franchises."
Paris Baguette entered the US market in 2005 and has stood out in the American bakery industry, surpassing 100 stores in the first half of this year. It has opened stores in major local commercial areas such as Times Square, Midtown, Upper West Side in Manhattan, New York, and Downtown Los Angeles, competing with local brands and actively expanding its franchise business. More than 80% of the stores are franchises, indicating that the franchise business is on track.
In June 2020, Paris Baguette established a Canadian corporation, signaling an expansion into the North American region. Although Canada is a country with American cultural influence, some regions like Quebec are part of the broader Francophone area, making it a key region for Paris Baguette's global business. Utilizing the franchise know-how accumulated in the US, Paris Baguette plans to expand its franchise business centered on four major hubs: Toronto, Vancouver, Quebec, and Montreal, aiming to open 100 stores by 2030.
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