Kuala Lumpur: CJ Foodville Corp., the restaurant arm of food and entertainment conglomerate CJ Group, announced that its bakery franchise Tous les Jours has opened its first outlet in Malaysia, marking a significant step in its overseas expansion strategy.
According to Yonhap News Agency, the newly launched store is located in Kuala Lumpur, and the company is planning to inaugurate a second outlet in the capital later this month. This expansion follows the signing of a master franchise agreement in January with local retailer Stream Empire Holdings Sdn Bhd, aimed at broadening its bakery operations within the Southeast Asian nation.
The master franchise agreement allows the franchisee not only to open and operate outlets in a designated region but also to sub-franchise those rights to third parties. Malaysia's bakery product market reached 4.4 trillion won (US$3.02 billion) in 2023 and is projected to grow at an average annual rate of 5.19 percent through 2028, as reported by the company.
Tous les Jours, currently operating around 560 outlets across nine countries, including the United States, Canada, Indonesia, and Vietnam, is focusing on accelerating its expansion throughout Southeast Asian markets this year. In addition to its domestic operations, CJ Foodville Corp. manages a bakery plant in Indonesia and is in the process of constructing another in Georgia, U.S., with the commencement of operations anticipated by the end of the year.