Metro Manila (CNN Philippines, August 14) — Malaysia-based Berjaya Food Berhad, a company that operates some popular restaurant and coffee chains like Starbucks and Kenny Rogers, said an initial investment of about $1.5 million may be shelled out for the expansion of South Korean bakery Paris Baguette in the Philippine market.
After making its name globally with more than 4,000 stores, Paris Baguette is now ramping up its presence in Southeast Asia, with the Philippines as its latest market.Berjaya Food, Middle Trade Inc., and Paris Baguette Singapore sealed a master franchise agreement late last week to bring the brand into the local market this year. Under the deal, Berjaya Food and Middle Trade Inc. would be the main operators in the Philippines.Dato’ Sydney Quays, Group CEO of Berjaya Food Berhad, said the company is targeting to open the country’s Paris Baguette café within the fourth quarter of 2023.On average, the company may spend $300,000 for a store, but that would still depend on its size and location, the official noted.“After we open our first store, we hope to open four after that. In totality, we hope to open five stores within the year [of operations],” Quays said.Asked if $1.5 million could be the ballpark figure for the five stores, he said: “On average, that might be right.”“We will have to see how the five stores do… if the five stores do really well, then we will consider opening more for the subsequent year,” the executive added.He said Paris Baguette would initially focus on the capital region, but rolling it out to other provinces remains on the table.
