800 Billion Won Jackpot Selling Only One Type of Bagel... Seongsimdang's Profit Margin Soars Beyond Expectations

LBM's 'London Bagel' Achieves Strong Results
Sales Reach 79.6 Billion KRW, Operating Profit 24.3 Billion KRW
Operating Profit Margin Exceeds 30%

Bagels are displayed at London Bagel Museum Anguk Branch. Photo by Jisoo Park

LBM, operator of the domestic bakery brand London Bagel Museum, recorded strong performance last year.

According to the Financial Supervisory Service's electronic disclosure system on the 9th, LBM posted sales of 79.6 billion KRW and operating profit of 23.4 billion KRW last year. This represents an increase of 120.9% and 91.7%, respectively, compared to the previous year.

Notably, the report highlighted an "operating profit margin of 30.5%." Considering that the typical profit margin for food and beverage, bakery companies is around 5-10%, this is an impressive figure. It is also significantly higher compared to Seongsimdang, a representative bakery in the Daejeon area, which has an operating profit margin of 25%.

As the name suggests, London Bagel Museum is a company that primarily sells bagels. Starting with its first store in Anguk-dong, Jongno-gu, Seoul in September 2021, it has expanded to six branches to date.

Regarding shareholding, Lee Sang-yeop, an initial investor and director, is the largest shareholder with 46% of the shares, followed by Director Kim Dong-jun with 29%, and CEO Kang Gwan-gu with 10%. Lee Hyo-jung, the company's founder and CBO (Chief Brand Officer), holds 15% of the shares.

According to industry sources, it was reported earlier this year that London Bagel Museum is planning a sale with a corporate valuation of around 300 billion KRW. However, London Bagel Museum clarified, "We are currently making new investments for overseas expansion," and emphasized, "At this point, we are not pursuing a sale."