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SPC Group and Caffè Pascucci are collaborating to bring Paris Baguette bakery-cafe shop to Italy. The former's chairman, Hur Young In, and the latter's founder and chief executive officer, Mario Pascucci, met last week in South Korea to sign their deal.
As per Inside Retail, the SPC Group and Pascucci are excited about the collaboration and looking forward to other business opportunities. In addition to bringing Paris Baguette to the Italian market, they plan to expand the brand further in Europe.
Long-Time Partners
Paris Baguette's parent company, the SPC Group, and Pascucci have been collaborating for a long time now. In fact, the South Korean food company franchised over 530 Pascucci branches in East Asia.
"Pascucci is a very important global partner who has been with us for 22 years and we expect to explore more diverse business opportunities through this meeting," the SPC said in a statement. "We will continue to discover new growth engines at home and abroad and continue to strengthen our global business through close cooperation with global companies."
Paris Baguette's Third European Expansion
The Korean bakery-cafe chain is landing in Italy through the cooperation with Caffe Pascucci. Hur and Pascucci signed a memorandum of understanding (MOU) for Paris Baguette's launch in the country. The executives reportedly agreed to collaborate as SPC also helped Pascucci to enter South Korea 22 years ago, and this time, it is the latter's turn to return the favor.
The Korea Herald reported that coming to Italy will be the brand's third European expansion after establishing the brand in Britain and France. "Italy boasts the largest bakery market in the (European Union) and has a rich bread culture," Hur commented. "It's a pivotal market in Europe, and we are delighted to collaborate with Pascucci, with whom we share a longstanding relationship."
Photo by: Yeh Xintong/Unsplash
