Paul Bassett to triple outlets by 2020

By Park Si-soo

Premium coffee shop chain Paul Bassett says it aims to triple the number of its Korean outlets by 2020.

The affiliate of Maeil Dairies, the nation’s second-biggest milk producer, plans to have 70 stores by year’s end, up from 34 last year.

The company says it also will slash coffee prices by 8 percent and roasted coffee bean prices by 14 percent, on average, from July.

It has also launched the Paul Bassett Society, a membership program that gives its subscribers further price cuts from next month.

“Paul Bassett has grown stably since its debut in 2009, thanks to a commitment to offering the best-quality coffee,” said Suk Jae-won, CEO of M’s Seed Co. that controls the chain, at a newly opened Paul Bassett store in Hannam-dong, Seoul, Thursday. “We will stick to that rule to ensure our sustainable growth.”

He expected the domestic coffee market to grow continuously and competition to get fiercer. Against this backdrop, he said Paul Bassett will find its edge with the quality of its espresso, the basic liquid for all its coffee products, and its baristas.

Suk said the company had strict guidelines to procure top-quality coffee beans and roast them in a way that maximizes their flavor and texture.

Paul Bassett, a world champion Australian barista who has partnered with Maeil for the chain, said he was committed to “improving and enhancing the quality and taste of coffee” at his namesake stores.