Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
SpaceX Surpasses Amazon in Market Value as Post-IPO Rally Accelerates 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
German Industry Employment Falls to Lowest Level in a Decade 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
China Industrial Output Beats Forecasts as Domestic Demand Weakens 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Gold Holds Gains as Oil Prices Retreat and Fed Decision Looms 
ASX Proposes New Share Dilution Limits for Public Takeovers 
SoftBank Vision Fund CFO Navneet Govil to Exit After Decade-Long Tenure 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Elon Musk Becomes World's First Trillionaire After SpaceX IPO Surge 
Paris Baguette, the bakery franchise owned by South Korea’s SPC Group, opened its 100th store location in the United States recently. The inauguration marks the bakery chain’s effort to accelerate its business overseas.
Paris Baguette is a leading brand in Korea’s bakery-cafe industry, and it is slowly making a name outside of the country as well. Moreover, with its newest store in the U.S. SPC Group said that it plans to build more until it reaches its target of setting up 1,000 branches in the American market by the year 2030.
The SPC Group said on Monday, Jan. 30, that launch of its 100th franchise outlet is a milestone for the brand. The newest branch is located in New Jersey, and it is called the Paris Baguette Red Bank.
As per The Korea Herald, the food manufacturing giant further disclosed that Paris Baguette has plans to sign additional 160 franchise deals this year alone. The aim is to build more bakery-cafes in new regions such as Colorado, North Carolina, San Diego, Los Angeles, Silicon Valley, Boston, New York, and other places in New Jersey.
The SPC Group first brought Paris Baguette to the U.S. in 2005, and it has since worked on boosting its presence in its chosen localities. It also exerted a lot of effort in making local consumers become aware of the brand.
The company’s hard work finally paid off when Paris Baguette secured the 25th spot in the 2022 Franchise Top 500 Ranking by the US Franchise Times. Aside from the U.S., the brand is also busy opening stores in the United Kingdom and some other countries in Asia.
"Global business is booming, with the US franchise surpassing its 100th store," an official at SPC Group stated. “The company will accelerate global businesses this year, including entering Canada and completing construction of factories in Malaysia.”
Photo by: Yeh Xintong/Unsplash
