[Click eStock] "SPC Samlip, KBO Bread Popular... Expecting the Second Pokemon Bread"

On the 25th, IBK Investment & Securities maintained a buy rating and a target price of 74,000 KRW for SPC Samlip, stating, "Sales growth is expected due to the popularity of KBO Bread, which was launched on the 20th." The upside potential compared to the previous day's closing price of 57,500 KRW is 28.7%.

Yonhap News

On the same day, Kim Taehyun, a researcher at IBK Investment & Securities, said, "KBO Bread has gained tremendous popularity, selling 1 million packs within three days of its launch."

KBO Bread strongly stimulates the collecting desire of baseball fans. The 10 types of bread, released in collaboration with the Korea Baseball Organization (KBO) and the Korea Professional Baseball Players Association, include 215 types of stickers featuring mascots from 9 teams and affiliated baseball players.

In a similar case, Pok?mon Bread, launched in February 2022, sold 750,000 packs within three days of its release and contributed to bakery segment performance. The monthly maximum sales of Pok?mon Bread reached 12 billion KRW, and from the second quarter, double-digit bakery sales growth continued for five consecutive quarters. However, various character breads released in 2023 and last year, such as Sanrio Bread, Atom Bread, Dragon Ball Bread, Bbangbbang-i Bread, and Arcane Bread, did not meet expectations.

Researcher Kim said, "This time, KBO Bread has surpassed 1 million packs sold faster than Pok?mon Bread, raising even higher expectations," and added, "Last year, the Korean professional baseball KBO League exceeded 10 million spectators for the first time since its inception, and with the opening of the KBO League this year, interest and demand for KBO Bread will continue to increase."

While the main consumers of Pok?mon Bread were in their teens and twenties, the primary consumers of KBO Bread are in their twenties and thirties, who have higher purchasing power, which is also a positive factor. Researcher Kim added, "The price of KBO Bread is 1,900 KRW per piece, which is higher than general mass-produced breads like Pok?mon Bread and cream bread, so as the sales proportion of KBO Bread increases, it will positively impact the improvement of operating profit margins in the bakery segment."