The South Korean bakery café chain has launched its first outlet in the UK amid plans to operate 20 locations across the country within three years
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SPC Group plans to reach 20 franchised Paris Baguette outlets across the UK by 2025 | Photo credit: SPC Group
South Korean food conglomerate SPC Group has opened its first Paris Baguette store in the UK as it continues to scale its European presence.
The store opening, located at a renovated Battersea Power Station in London, represents SPC’s second European and ninth international market, following France, Cambodia, China, Indonesia, Malaysia, Singapore, the US and Vietnam.
SPC Group, which said a second UK site will open in November 2022 on Kensington High Street, London, plans to reach 20 franchised UK outlets by 2025.
The company has been focusing on expansion in its target European and US markets, recently opening three new stores in France, reaching five outlets in the country, and expecting to reach 150 stores in the US by the end of this year.
“The UK is an important market for us to expand business in Europe and launch more franchises there, ultimately making it one of four pillars for our brand growth globally after the US, China and Singapore,” said Hur Jin-soo, CEO, SPC Group.
SPC Group, which operates approximately 4,000 Paris Baguette stores globally, said the UK bakery and confectionery market is currently valued at approximately $20bn and is expected to generate $7.6bn in revenue by 2026.