SPC opens 1st Paris Baguette outlet in Mongolia
This undated photo shows its first Paris Baguette outlet in Zaisan Square in Ulaanbaatar, Mongolia. Courtesy of SPC
SPC Group, a Korean food and beverage company, said Monday its bakery brand Paris Baguette has opened its first outlet in Mongolia as part of its global expansion strategy.
SPC signed a master franchise agreement with Mongolian retail company Foodcorp LLC last year for the bakery business there, the company said in a press release.
The company plans to open two additional outlets in Ulaanbaatar within this year as the Mongolian food market has recently posted double-digit growth.
"An increasing number of young people in Mongolia prefer dining out and spending time at coffee and bakery shops amid a growing preference for Korean culture and cuisine," a company official said.
With the opening of the Ulaanbaatar outlet, SPC has expanded the Paris Baguette brand globally to 15 countries since 2004. The number of Paris Baguette outlets worldwide has recently surpassed 670.
SPC currently operates bakery plants in China and Malaysia. Last month, it began construction of its third overseas bakery plant in the United States.