'Bread King' Heo Young-in's Grand Operation to Build K-Bakery... Targeting the US and Canada

Canadian Local Corporation Established... Stores to Open in Toronto Next Year
Years of Market Research for Expansion... Aiming for 100 Stores by 2030
Becoming the World's No.1 Bread Brand... Promoting the Value of K-Bakery

Paris Baguette Broadway Branch.

[Asia Economy Reporter Lee Seon-ae] The determination of Heo Young-in, chairman of SPC Group and the 'Bread King,' has now broken into Canada. Following China, which even France gave up on, France itself?the birthplace of bread?and the fiercely competitive United States, the Paris Baguette flag is now being planted in Canada. Chairman Heo's intention is to use the Canadian market as a foothold to properly showcase the true value of K-Bakery (the Korean bread wave) in the American and French cultural markets.

According to SPC Group on the 15th, the bakery brand Paris Baguette is entering Canada to expand its North American market presence. To this end, it has also established a local subsidiary, 'Paris Baguette Canada.' The first stores are expected to open as early as the first half of next year in major cities such as Toronto and Vancouver. This marks 16 years since Paris Baguette first stepped into the United States, the key North American base, in 2005.

The lengthy preparation period is due to Chairman Heo's thoroughness. He is known for conducting years of market research before entering overseas markets. Because the competitive environment makes it difficult for foreign bakery brands to settle in, he repeatedly conducts unlimited research until he is confident of success. Notably, the reason Paris Baguette succeeded in the Chinese market?where famous French bakery brands 'Paul' and 'Fauchon' gave up and withdrew?was due to a decade-long preparation. After nearly 10 years of preparation, Paris Baguette launched its first store in Gubei, Shanghai in 2004, and demonstrated its strength by operating its third factory in Tianjin, China, last March, 15 years later, following Shanghai and Beijing.

Chairman Heo is also confident of success in the Canadian market. The foundation is the business know-how accumulated in the United States. Paris Baguette took its first step by establishing a local corporation in the U.S. in 2002 and opening its first store in Los Angeles in October 2005. It then steadily expanded into major areas such as New York and Las Vegas. In May 2016, it officially began franchising by opening a Hostetter store in San Jose, and currently operates 83 stores.

Heo Young-in, Chairman of SPC Group

Having succeeded in the U.S. market with global business strategies such as premiumization, diversification, high quality, and localization, Paris Baguette plans to aggressively expand its franchise business from the early stages of entry into the Canadian market, aiming to open more than 100 stores by 2030. It is especially expected that establishing a foothold in the Canadian market will serve as a stepping stone to actively target the global market in the future. An SPC Group official evaluated, "Canada is not only an extension of the U.S. cultural market but also includes regions like Quebec, which can be considered part of the broader French cultural sphere, making it a strategically important market for Paris Baguette's global business."

Chairman Heo's ultimate goal is to make Paris Baguette the world's number one bakery brand. Additionally, he plans to build a Paris Baguette dough factory in Normandy, France?the sacred land of baguettes?and promote the true value of K-Bakery to the global market.

Meanwhile, since entering Shanghai, China, in September 2004, Paris Baguette has expanded into five countries including China, the United States, Vietnam, Singapore, and France, operating about 400 stores. The largest number of stores, 310, are operated in China.

This content was produced with the assistance of AI translation services.