CJ Foodville, Continuously Challenging Itself and Making Audacious Investments, Opens Its 300th Overseas Store
- CJ Foodville is committed to creating future food for Korea and its food service industry through the globalization of Korean food culture
- CJ Foodville entered an overseas market for the first time in 2004; opened its 10th store in 2007, its 100th store in 2012; and its 300th store in 2016
- CJ Foodville is determined to accelerate its foray into overseas markets with its own Korean-oriented brands and create a global dining brand.
"Challenge - trial and error - overcome - challenge again." CJ Foodville, a company that recognized food services as a growth engine for the future early on and has been audaciously investing in them, has opened its 300th overseas store, leading the way in spreading Korean food culture.
Korea's only global food service specialist CJ Foodville (CEO Jeong Mun-Mok) announced on the 2nd that it opened its 300th overseas store. CJ Foodville's 300th overseas store is a complex concept comprising Tous Les Jours, bibigo, and A Twosome Place stores that opened its doors on the first floor of Fortune Financial Center (FFC), located in the center the Central Business District (CBD) of Beijing, China.
“CJ Foodville has been engaged in this business for 10 years with a mission to create future food for Korea and its food service industry through globalization of Korean food culture. We believe that in 10 years' time, Korean food culture and Korean food brands will have made up the major categories of global food culture. Accordingly, we will be pushing our business forward more aggressively with a sense of pride and mission as a global food service specialist."
CJ Foodville Gains Momentum in Overseas Markets and Simultaneously Expands into Chinese, US, and Southeast Asian Markets. CJ Foodville Is Expected to Open Its 360th Store within the Year.
CJ Foodville's overseas business began in 2004 with the opening of its first Tous Les Jours store in the United States. Food culture businesses, including dining businesses, require pioneering overseas markets as well as long-term investments. Operating this overseas business, which began in 2004, has not always been smooth sailing. After a long period of tenaciously challenging and educating itself going through the process of "challenge - trial and error - overcome - challenge again," CJ Foodville finally started making active forays into the global market in 2011 and opened its 100th overseas store in 2012. As of October, 2016, CJ Foodville operates four brands in 10 countries and runs more than 300 stores in total.
CJ Foodville has entered the markets of 10 countries — including the US, China, Vietnam, Indonesia, Japan, the UK, the Philippines, Cambodia, Malaysia and Mongolia — with its bibigo, Tous Les Jours, Twosome Coffee, and VIPS brands. CJ Foodville also plans to expand its overseas business by opening its 360th store within this year. CJ Foodville aims to increase the overseas sales portion of its sales revenues by more than 50% by 2020, with more than 4,000 overseas stores operating in 15 countries, and eventually rank among the world's top 10 food service specialist companies.
Among All Companies in the Industry, CJ Foodville Operates the Largest Number of Brands in the Largest Number of Countries with its Own Brands
CJ Foodville started its domestic business in 1997 with VIPS and Tous Les Jours. In the early 1990s, with the rapid growth of Korea's domestic food service market, large foreign brands made competitive inroads into the market.
Under these circumstances, CJ Foodville started providing high quality food and services to the public with its own Korean-oriented restaurant VIPS. Since then, CJ Foodville has continued growing its business, developing Korean-oriented brands such as A Twosome Place, bibigo, Season's Table, Cheil Jemyunso, and The Place.
Instead of choosing the easy path of bringing in famous foreign brands, CJ Foodville has been leading the dining trend by continuously developing native brands. Developing proprietary brands has low initial profitability because it takes a long period of preparation and high investment costs. However, you can achieve long-term growth by tapping into overseas markets. That CJ Foodville operates the largest number of brands in the largest number of countries in the industry has been possible because the company owns its brands as its assets.
China is where CJ Foodville's overseas business is most thriving. About half of CJ Foodville's 300-odd overseas stores are located in China. In China, on the strength of favorable customer reviews praising the brand as tasty and healthy, CJ Foodville's global Korean food brand "bibigo" is continuing its rise, opening 6 Chinese stores this year alone. Twosome Coffee also has gained a foothold in major Chinese regions and has begun expanding into Beijing, Shanghai, Tianjin, etc. Tous Les Jours, in particular, has already proven its competitiveness in the Chinese market, operating stores throughout the largest number of Chinese regions of all Korean bakery brands. Tous Les Jours operates stores not only in China's 6 biggest cities, including Beijing, Tianjin, Shanghai, Weihai, and Suzhou, but also in China's 11 provinces and autonomous regions, including Sichuan, Henan, Shanxi, Shaanxi, Fujian, Zhejiang, Shandong, and Xinjiang Uygur.
Tous Les Jours is also speeding up its business in the US bibigo is considered a "healthy and fast casual food brand" by Chinese locals and is gaining a lot of popularity in China thanks to the brand's "Build your own" concept which allows customers to pick whatever food they like, as well as the popularity of ethnic food in the US market. After engaging the US market in 2004, Tous Les Jours initially made efforts to gain a foothold by opening direct-owned stores. However, the bakery began franchising in 2009. Tous Les Jours is currently expanding its business in major US areas such as LA, New York, New Jersey, and Massachusetts through franchising.
In Southeast Asian markets where Tous Les Jours has the majority of its stores, including Vietnam, Indonesia, Philippines, Cambodia, and Malaysia, CJ Foodville conducts business primarily in key commercial areas and is going strong. Particularly in Vietnam and Indonesia, Tous Les Jours has cemented its position as the leading premium bakery and is accelerating its expansion.
In addition, the 1st UK store (Soho) of bibigo, which was the first Korean food brand to enter the UK market, has appeared in the Michelin Guide four years in a row, including the guide's 2017 issue. The store made its first appearance in the Michelin Guide in the London edition of its 2014 issue. bibigo is the first Korean brand restaurant to have appeared in an overseas edition of the Michelin Guide.
“All business endeavors by CJ Foodville are based on CJ Group's founding philosophy, '事業報國 (contribute to the nation through business)'. CJ Foodville will faithfully fulfill its role as a leading company that promotes the excellence of Korean brands and Korean food culture, and we will also try our best to become a leading global food service specialist," said an official from CJ Foodville.