Mr. Pizza turns profitable in China

By Park Si-soo

Mr. Pizza poster

Mr. Pizza’s China operations have made a profit for the first time in 15 years, thanks to a robust partnership with local retailers and the Westernized eating habits of customers.

The company, which entered the Chinese market in 2000, said Tuesday its first-quarter net earnings reached 250 million won ($227,800), swinging from a net loss of 600 million won last year.

“Our stores in Shanghai are leading the rapid growth,” said a Mr. Pizza spokesman. “Sales in Shanghai have surged after we formed a partnership with Golden Eagle Group.”

Golden Eagle is one of China’s biggest retailers and owns dozens of department stores and shopping malls in Shanghai. Under the partnership signed in September 2013, Mr. Pizza has opened its outlets in those buildings.

Mr. Pizza ran 66 outlets in China as of late last year. The company aims to increase that to 150 by the end of the year. It also plans to open its first outlet in the Philippines in May and in India in the near future.

Mr. Pizza is Korea’s biggest pizza chain with more than 500 outlets.