Sales Nearing 200 Billion KRW
Revenue Surges by 56%
Operating Profit Also Soars
Surpasses Major Corporation Tous Les Jours
Last year, Seongsimdang, a native bakery in Daejeon that sparked a sensation with its 'Siru Cake' series, recorded its highest-ever sales, nearing 200 billion KRW. Its operating profit surpassed that of the large corporation Tous Les Jours for the second consecutive year.
Visitors are lining up in front of the Seongsimdang main store, a representative attraction of Daejeon, to purchase bread. Photo by Heo Young-han
According to the Financial Supervisory Service's electronic disclosure system on the 5th, Seongsimdang's sales last year surged 56% from 124.3 billion KRW the previous year to 193.7 billion KRW. Seongsimdang's sales had already increased by 52% from 81.7 billion KRW the year before, becoming the first single bakery brand, not a large franchise, to enter the 100 billion KRW sales era. If this trend continues, this year's sales are expected to exceed 200 billion KRW by a wide margin.
Operating profit also rose by a similar margin. It was recorded at 47.8 billion KRW, a 52% increase from 31.4 billion KRW the previous year. Last year, CJ Foodville's operating profit was 29.86 billion KRW, widening the gap with Seongsimdang. The operating profit difference between the two companies in 2023 was 10 billion KRW. As of the end of last year, Seongsimdang had 16 stores, while Tous Les Jours had about 1,300 locations. CJ Foodville also operates other brands such as VIPS, The Place, and Jeil Jemyunso besides Tous Les Jours.
Seongsimdang started in 1956 as a steamed bun shop in front of Daejeon Station and has operated stores only in Daejeon for 70 years. Its management philosophy is "not to open branches outside Daejeon." Because of this, the strong regional identity, to the extent that "Daejeon = Seongsimdang" has become a formula, stands out as an advantage, and Seongsimdang continues to be ranked as the top destination for nationwide 'bread pilgrimages' (visiting famous bakeries), maintaining its popularity.
The 'Siru' cake, layered with plenty of strawberries, figs, mangoes, and other fruits each season, has gained nationwide popularity, creating a spectacle of long lines from early morning. Despite the significant rise in fruit prices, to the extent that the term 'fruitflation' (fruit + inflation) has emerged, Seongsimdang is known for making cakes with relatively affordable prices and more fruit than bread or cream. It is also praised as having 'hotel cake-level quality.'
Recognized as a local cultural landmark, it was selected for the 'Local 100' (Top 100 Regional Cultural Attractions) organized by the Ministry of Culture, Sports and Tourism, and also received the 'Regional Culture Award,' given to three places among the Local 100.
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