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Entered 2024.03.25 18:57 Modified 2024.03.25 19:28 Ground A28
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Tipton Paris Baguette USA CEOGlutinous rice donuts and red bean bread captivated New York
K Bakery ‘winner’6 years in the US… Stores and sales doubled
Triggers ‘neighborhood pocus’ nostalgia
Differentiate with low calorie bread
“Expand to 1,000 stores by 2030”
Red Paris Baguette Bank Branch, USA. / Provided by SPC Group “Surprisingly, American consumers like glutinous rice donuts and bread with red beans. “This is because it is a product that cannot be found in other bakery cafes.”
Darren Tipton, CEO of Paris Baguette USA (pictured), who met at the Paris Baguette store near 40th Street and 7th Avenue in Manhattan, New York, USA, on the 21st, introduced one by one the products introduced in the US market , such as the Chocolate Cream Cream New York Roll and Corn Cream Bun. He said this. CEO Tipton, who took office in January 2020, is the driving force behind Paris Baguette’s rapid growth. The number of stores increased from 76 in 2018 to 158 last year. During the same period, sales also increased from 169.4 billion won to more than 350 billion won. CEO Tipton said, “The Hawaii branch recently opened, so I went on a business trip,” and added, “I’m fortunate to be serving as CEO at a time when the business is growing.” The reason behind the growth of Paris Baguette was the revival of neighborhood bakeries that were disappearing from American communities. In the United States, as large distribution chains such as Costco and Whole Foods introduce a variety of confectionery products such as cakes, doughnuts, and breads, the number of individually operated bakeries closing has increased. However, the introduction of Paris Baguette fueled American consumers’ nostalgia for a local bakery.
Paris Baguette cakes also contribute to its rapid growth. Major US delivery chains mainly sell cakes that contain a lot of sugar and butter. It is much sweeter and higher in calories than cakes sold in Korea. CEO Tipton explained, “It’s differentiating in the market because it’s not the typical high sugar cake that American consumers are familiar with.” 85% of Paris Baguette stores in the US are franchises. A high proportion of franchise businesses is interpreted to mean that a stable profit can be generated in the local market.
CEO Tipton said, “While existing bakeries sell less than 100 types of items on average, Paris Baguette sells more than 300 types of items. We have the strength to adapt quickly even when trends change or when competing bakeries appear.”
Paris Baguette plans to expand its stores in the United States to 1,000 by 2030. To this end, we are pursuing the construction of a state-of-the-art manufacturing plant with the goal of 2026. In line with the pace of store expansion, we are also actively training bakers and baristas. CEO Tipton introduced, “Through a memorandum of understanding (MOU) with the City of New York, we have partnered with the Isaac Center, a non-profit organization, to develop an internship recruitment program for cake decorators, bakers, sandwich team members, and baristas. .” Paris Baguette selects applicants from those who have completed a 7-week basic cooking course at the Isaac Center since October last year and then provides intensive 4-week training at the Paris Baguette Training Center in Munachi, New Jersey.
Because of the name reminiscent of France, few users know that it is a Korean company. Miranda Caruso, who we met at the Manhattan store, said, “I stop by Paris Baguette every time I come to downtown Manhattan, but today was the first time I found out it’s a Korean company.”
New York = Park Reporter Shin-young/Photo = Sang-eun Lee, PD of Korea Economic TV
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