Ulaanbaatar: SPC Group, a South Korean food and beverage company, has announced the opening of its bakery brand Paris Baguette's first outlet in Mongolia, marking a significant step in its global expansion strategy. The company confirmed this development in a recent press release, highlighting Mongolia as the latest addition to its international presence.
According to Yonhap News Agency, SPC Group signed a master franchise agreement with the Mongolian retail company Foodcorp LLC last year to introduce its bakery business in the country. The agreement is part of SPC's strategic move to tap into the rapidly growing Mongolian food market, which has been experiencing double-digit growth in recent times.
The company revealed plans to open two additional Paris Baguette outlets in Ulaanbaatar within this year. This move aligns with the increasing trend among young Mongolians who are showing a preference for dining out and spending time at coffee and bakery shops, influenced by the growing popularity of Korean culture and cuisine.
With the opening of the Ulaanbaatar outlet, SPC has successfully expanded the Paris Baguette brand to 15 countries since its international venture began in 2004. The global presence of Paris Baguette now includes more than 670 outlets worldwide, reinforcing its standing in the international bakery market.
In addition to its expansion in Mongolia, SPC Group currently operates bakery plants in China and Malaysia and has recently started construction of its third overseas bakery plant in the United States, further solidifying its commitment to global growth.