This file photo provided by SPC shows people lined up to enter the company’s 600th overseas outlet on Bloor Street, in Toronto’s high-end shopping district. (Image courtesy of Yonhap)
SEOUL, Oct. 15 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Tuesday its bakery brand Paris Baguette has opened its 600th overseas outlet in Canada as part of its global expansion strategy.
SPC has opened 30 outlets in North America this year, bringing the total in the mainstay markets to 190. It plans to add 20 additional outlets there by December, the company said in a statement.
SPC said it will directly operate the Toronto outlet, and not operate it under a master franchise agreement with a local company.
Under a master franchise deal, the master franchisor allows the master franchisee not only to open franchise units itself in a specified area but also to sub-franchise them to third parties.
SPC has advanced to 11 countries with the Paris Baguette brand since 2004. It earned more than 650 billion won (US$478.6 million) from its overseas Paris Baguette stores last year.
(Yonhap)
