BBQ Reports Record High Performance with 334.6 Billion KRW in Sales and 53.1 Billion KRW Operating Profit Last Year (Comprehensive)

Development of Hot Golden Olive Chicken Series, Negotiation King Promotion, and Other Investment Results
Strengthening In-House App-Centered Promotions, New Product Development, and Maximizing HMR Sales This Year

[Asia Economy Reporter Lim Hye-seon] Genesis BBQ recorded sales of 334.6 billion KRW and an operating profit of 53.1 billion KRW last year. This represents an increase of 38% in sales and 119% in operating profit compared to the previous year, marking the highest performance since the company's founding. Despite the spread of COVID-19, new products targeting customers in their 20s and 30s, such as the Hot Golden Olive Chicken series and Maple Butter Garlic Chicken, were well established, and active marketing investments including the "Nego King" campaign contributed to these results.

According to the data registered by Genesis BBQ on the Financial Supervisory Service's electronic disclosure system, sales amounted to 320 billion KRW. This is because, under International Financial Reporting Standards (IFRS), promotional expenses of 14.6 billion KRW related to promotions such as "Nego King" were deducted from sales for disclosure.

Genesis BBQ invested approximately 33.2 billion KRW in marketing activities last year. In April, they appointed actor Lee Min-ho as a model and launched four types of the Hot Golden Olive Chicken series?Red Chakchak, Black Pepper, Hot Crispy, and Jjin King Sauce?which gained popularity among customers in their 20s and 30s. The "Nego King" promotion with Hwang Kwang-hee also contributed to increased sales. After the promotion, the number of subscribers to the company’s application (app) surged from 30 to 2.55 million.

In August last year, monthly sales reached 37 billion KRW, marking the highest monthly performance since the company's founding. In the second half of the year, they selected Hwang Kwang-hee as an advertising model, launched "Maple Butter Garlic Chicken," and continued to strengthen promotions centered on their app. They also collaborated with Kakao Little Friends to release sauce plate goods and product sets as customer giveaways.

The untact (contactless) strategy also proved effective. Since July last year, the franchise business specializing in packaging and delivery, BSK (BBQ Smart Kitchen), has expanded to 250 stores, achieving nearly 300 contract signings.

This year, Genesis BBQ plans to drive growth through continuous new product development, strengthening app-centered promotions, and bold investments such as enhancing sales of home meal replacements (HMR).

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