Baek Jong-won’s Paik’s Coffee to Open 150 Stores in Taiwan Within Five Years as Global Expansion Accelerates

[Financial News] Paik’s Coffee has announced its roadmap for entering Taiwan. The brand plans to accelerate its global business, targeting at least 150 stores within the next five years. 
According to industry sources on the 8th, The BORN Korea signed a 10-year master franchise (MF) agreement with a local partner on the 29th of last month to bring its coffee brand, Paik’s Coffee, to Taiwan.
Baek Jong-won, CEO of The BORN Korea, and officials from the local partner attended the signing ceremony held recently in Taiwan. Under the agreement, the two companies aim to open 10 stores in the first year of operations in Taiwan and at least 150 cumulative stores by the fifth year.
Earlier, The BORN Korea entered the Japanese market last August by opening two company-operated Paik’s Coffee stores in Tokyo’s Shimbashi and Kanda districts in succession. Its store operation strategy, tailored to local market conditions, has demonstrated the brand’s competitiveness, with more than 1,000 beverages sold on average each weekday.
The BORN Korea plans to use the Taiwan agreement and its entry into Japan as a springboard to aggressively expand Paik’s Coffee’s global business.
A representative of The BORN Korea said, "Paik’s Coffee is pursuing overseas expansion strategies tailored to the market conditions and consumer characteristics of each country, based on its long-standing store operation expertise and menu competitiveness accumulated in Korea. We will work closely with local partners to gradually expand our overseas business and establish Paik’s Coffee as a brand loved for a long time in countries around the world."
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