Industry sources predicted chicken franchises will fare well this year thanks to the prolonged coronavirus outbreak. (Yonhap)
SEOUL, April 14 (Korea Bizwire) — Sales of South Korea’s major fried chicken franchises jumped in 2020 as people resorted more to food delivery amid the coronavirus outbreak, industry data showed Wednesday.
Kyochon, the biggest franchise, saw its top line surging 17.8 percent on-year to 447.6 billion won (US$398 million) last year, and sales of No. 2 BHC shot up 25.7 percent to 400.4 billion won.
It marks the first time that sales of local chicken franchises have exceed the 400 billion-won mark.
Kyochon’s operating income climbed 4.3 percent on-year to 41 billion won, and that of BHC spiked 33 percent to 130 billion won.
No. 3 player BBQ posted better performances. Sales of BBQ soared 32.1 percent on-year to 325.6 billion won, with its operating income skyrocketing 119.3 percent to 55 billion won.
Industry sources predicted chicken franchises will fare well this year thanks to the prolonged coronavirus outbreak and a rise in the number of single-person households.
Fried chicken is South Koreans’ most favorite delivered food, and fried chicken and beer, called “chimaek,” is one of the most popular foods in the country.
(Yonhap)
