Conversion of 23 franchise regional headquarters into direct management completed…expectations for improved corporate value,
GyoChon Pangyo headquarters.
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‘Kyochon F&B, which operates Kyochon Chicken, announced on the 14th that its second-quarter sales (consolidated basis) reached 1.139 trillion won, up 11.7% from the same period last year.’,
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‘The growth of Kyochon can be attributed to factors such as an increase in its in-house order app subscribers (5.58 million), domestic business sales due to Family Month and various sports events, and growth in related export sales driven by continuous enhancement of overseas operations.’,
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‘In terms of overseas operations, sales related to master franchise (MF) countries experienced more than a 2x increase in royalties and raw material exports, and performance was positive as global new stores were continuously expanded in countries like China, Malaysia, and Taiwan.’,
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‘Additionally, new business areas such as buckwheat noodles, Moon Bear craft beer, and eco-friendly packaging contributed to the revenue growth.’,
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‘Kyochon completed the conversion of 23 franchise regional headquarters into direct management on the 12th of last month. In May, Kyochon announced its plan to convert 23 franchise regional headquarters nationwide into direct management, aiming to streamline distribution channels and rationalize operations.’,
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‘However, due to one-time costs related to the conversion of franchise regional headquarters into direct management, there was an operating loss of 9.9 billion won in the second quarter, leading to a temporary deficit.’,
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‘Kyochon F&B anticipates a revenue increase in the latter half of this year driven by various positive factors and expects profitability to improve due to the efficiency effects of completing the conversion of franchise regional headquarters into direct management.’,
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‘A Kyochon F&B official stated, “In the latter half of this year, we will lead the growth of our domestic business with the new menu ‘Kyochon Corn’ and continue expanding overseas and new businesses to drive revenue growth.”‘,
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