South Korean F&B group SPC is expanding outside of its home territory as its home-based brands reach saturation point.
Plans to establish an upscale restaurant in New York-based on its Paris Baguette bakery brand, however, have been significantly impacted by the continuing US coronavirus outbreak, according to a report in the Korea Times.
“We were planning so as part of our global business expansion starting with our locations in Singapore. However, due to the COVID-19 outbreak, everything was put on hold,” said an official spokesperson for SPC. “We were going to start with Maison de PB and make our next move after watching its performance in NYC.”
The group has already successfully established Paris Baguette locations in the US, although poor brand visibility is still said to be an issue for the franchise. According to one industry source, the Maison de PB venue was intended to elevate the reputation of the brand.
“There’s a limit for its success with the confectionery business in the US and Europe,” the source told the Korea Herald. “It is very hard to break the stereotype that an Asian bakery can offer better products than French bakeries. Becoming successful with Maison de PB in NYC is also important but we can see it as part of the group’s efforts to build its brand image there.”
