The South Korean bakery-café chain anticipates it will reach 110 stores across the US in 2023 after posting a strong first quarter sales
A TOUS les JOURS stores in New Haven, Connecticut, USA | Photo credit: TOUS les Jours
TOUS les JOURS is seeking further outlet growth in the US after posting surging first quarter sales.
The South Korean bakery-café chain posted a 56.8% rise in total system sales, with net income jumping 349.4% compared to the same period in 2022.
The first quarter saw TOUS les JOURS reach 90 stores in the US after opening five stores across Southern California, Texas, New York and North Carolina.
The franchise operator said it was ‘on track’ to open more than 20 US outlets in 2023 and anticipates it will reach 110 stores in the market by the end of the year – ten more than it forecast at the end of 2022.
More than 50 development deals were signed in the US over the last 15 months, TOUS les JOURS added.
“We are confident 2023 will be another year of significant milestones for TOUS les JOURS, and our successful Q1 performance underscores the commitment to maintaining our impressive momentum throughout the remainder of the year,” said Tony Hunsoo Ahn, CEO, TOUS les JOURS.
Founded in South Korea in 1997, TOUS les JOURS is managed by parent company CJ Foodville and operates nearly 1,700 stores around the world, with a presence in Vietnam, Cambodia, China, Indonesia and Malaysia.
TOUS les JOURS began franchising in the US in 2004 and is targeting and 1,000 stores
in the US by 2030.
The US is a key growth market for the bakery café chain and where it faces competition from fellow South Korean operator Paris Baguette, which is currently opening a new franchised store every week
and is also targeting 1,000 US outlets by 2030.
World Coffee Portal data shows the $45.8bn+ US branded coffee shop market
is resurgent following the pandemic. As of late 2022, the market had regained 96% of its pre-Covid market value, with market leader, Starbucks posting second quarter sales and outlet growth
for its North American business.