bhc Group Surpasses 1 Trillion Won in Sales... 13-Fold Growth in 9 Years

Last Year's Sales Increased by 64% YoY
Driven by Growth of bhc Chicken and Outback

Chairman Hyunjong Park of bhc Group. Photo by bhc Group

[Asia Economy Reporter Moon Hyewon] bhc Group has joined the 1 trillion won sales club.

bhc Group announced on the 10th that its group sales last year reached approximately 1.011 trillion won on a consolidated basis, marking a 64% increase compared to the previous year and surpassing 1 trillion won for the first time in history.

Since starting independent management in 2013 with sales in the 80 billion won range, it has grown about 13 times in nine years.

The growth of bhc Group last year was driven by bhc Chicken and Outback Steakhouse (hereinafter Outback). bhc Chicken became the first in the chicken industry to exceed 500 billion won in sales. The delivery market, which grew rapidly after the pandemic, continued its growth trend even in the endemic era last year. Additionally, as social distancing measures were eased and various gatherings increased, more customers visited the caf?-style Beer Zone, leading to increased sales, bhc Group explained.

Outback, acquired by bhc Group in 2021, exceeded 400 billion won in sales for the first time last year. Outback's sales growth rate last year was about 10% compared to the previous year, significantly contributing to bhc Group's growth.

Outback strengthened customer convenience and accessibility through a store entry strategy focused on complex shopping malls, keeping pace with customers' lifestyle changes toward mall culture. Based on this, 15 new stores were launched last year alone, expanding new and relocated stores nationwide, including Seoul, the metropolitan area, Busan, Gwangju, Daegu, Yeosu, and Cheonan, which led to increased sales.

Warehouse 43 and the self-launched brand Jokbal Sanghoe showed double-digit growth rates, and Gram Gram and Keunmam Halmae Sundaeguk also continued to grow steadily.

Super Duper, a representative handcrafted burger from San Francisco officially launched last November, also successfully achieved a smooth landing.

bhc Group presented its goal and vision to continuously pursue a co-growth strategy and leap into a global dining company with sales of 3 trillion won by 2030. To this end, bhc Group plans to focus on core competencies for solid management and actively pursue overseas expansion.

bhc Chicken opened its first overseas master franchise store in Kuala Lumpur, Malaysia, last November, and the first store in Singapore is also scheduled to open in the first half of this year through a master franchise contract. bhc Group has started expanding into the Southeast Asian market based in Hong Kong, Malaysia, and Singapore, and is preparing for full-scale entry into the U.S. market with the first North American store scheduled to open in the first half of this year.

A bhc Group official said, “Although an unstable management environment is expected this year due to domestic and international circumstances, we will do our best to proactively identify potential threats and turn crises into opportunities by delivering results that meet consumer needs.” He added, “Based on this, we will grow beyond the largest comprehensive dining company to become a global dining company.”