The South Korean bakery café chain is seeking to double its US outlet growth rate in 2023 following strong trading last year
Paris Baguette has set the ambitious goal of reaching 1,000 stores across the US by 2030 | Photo credit: Paris Baguette
Paris Baguette has forecast accelerated outlet growth in the US over the next 12 months as it seeks to prosper from ‘tremendous’ opportunities in the US bakery café market.
The US division of the South Korean bakery café chain opened 24 stores across the country in 2022 to reach 120 outlets.
The company has signed a five-unit agreement to expand in Massachusetts this summer and is targeting opening at least 60 new stores and signing 130 franchise agreements over the next 12 months.
Paris Baguette has set the ambitious goal of reaching 1,000 stores across the US by 2030.
“We are thrilled to announce additional expansion within Massachusetts. There's a tremendous amount of opportunity in the bakery café space. No one else is doing what we are on the same scale, and that's attracting a lot of attention. It's a really exciting time for us as we continue seeing growth through franchise expansion and year-over-year revenue numbers,” said Mark Mele, Chief Development Officer, Paris Baguette.
The bakery café chain’s US business posted 42% year-on-year sales growth for its 2022 financial year, with like-for-like sales growing 31%.
In January 2022 the company unveiled a neighbourhood-focused store format and brand revamp to capture growing demand for neighbourhood hospitality experiences.
Founded in South Korea in 1988, Paris Baguette operates more than 4,000 stores globally, including approximately 3,400 in its native market. The company began franchising in the US in 2015.