This photo taken Jan. 8, 2025, and provided by CJ Foodville shows Jeong Soo-won (R), president director of CJ Foodville Indonesia, and Stream Empire Holdings CEO Justin Lim posing for a photo at Sunway Resort Hotel after signing a master franchise deal to open outlets of CJ Foodville’s bakery franchise Tous les Jours in the Southeast Asian country. (Image courtesy of Yonhap)
SEOUL, Jan. 9 (Korea Bizwire) — CJ Foodville Corp., the restaurant arm of food and entertainment conglomerate CJ Group, said Thursday its bakery franchise Tous les Jours will open its first outlet in Malaysia in the first half of this year.
CJ Foodville has signed a master franchise contract with local retailer Stream Empire Holdings Sdn Bhd to expand the bakery outlets in the Southeast Asian country, the company said in a press release.
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.
Malaysia’s bakery product market reached 4.4 trillion won (US$3.02 billion) in 2023 and is expected to grow by an average of 5.19 percent annually for five years through 2028, according to data from the Korea Agro-Fisheries & Food Trade Corporation.
The Tous les Jours brand currently operates about 560 outlets in seven countries, including the United States, Canada, Indonesia and Vietnam, and aims for expansion in Southeast Asian markets this year.
(Yonhap)
