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Tag: A Twosome Place

  • South Korean Cafe Giant ‘A Twosome Place’ Readies for Sweet US Debut

    South Korean Cafe Giant ‘A Twosome Place’ Readies for Sweet US Debut

    Renowned South Korean café chain, A Twosome Place, is gearing up to launch its first company-owned branch in the United States in the coming year. This move signifies a re-energized push for international expansion, following the café’s exit from the Chinese market three years prior.

    Global Expansion Strategy

    While the exact location and timeline for the U.S. launch have not yet been disclosed, it is clear that this move is part of A Twosome Place’s comprehensive strategy to disseminate Korean-style café culture worldwide.

    A Twosome Place, established in 2002, currently operates over 1700 outlets across South Korea, and is recognized for its exceptional dessert offerings. The chain embarked on franchising in 2008 and was later purchased by The Carlyle Group in 2021.

    Domestic Developments

    On the domestic front, A Twosome Place is introducing the ‘Twosome 2.0’ concept: a high-end store design that is being implemented in key districts of Seoul. There are plans already underway to propagate this concept nationally, while infusing new elements into pre-existing stores.

    The café chain retreated from the Chinese market after shuttering over 40 outlets in 2022, which came as a result of a sustained period of lackluster sales in the region.

    Questions & Answers

    What is the significance of A Twosome Place’s expansion into the U.S.?
    The planned move to open a branch in the U.S. is part of A Twosome Place’s wider strategy to introduce Korean-style café culture to international markets.

    What is ‘Twosome 2.0’, the concept A Twosome Place is implementing domestically?
    ‘Twosome 2.0’ is a new store design concept that provides a premium aesthetic. The company plans to implement this design across their stores in South Korea.

    Why did A Twosome Place withdraw from the Chinese market?
    A Twosome Place withdrew from China after experiencing several years of slow sales, leading to the closure of more than 40 stores in 2022.

  • Starbucks Coffee Korea forecast to post record-high operating profit

    Starbucks Coffee Korea forecast to post record-high operating profit

    Starbucks Korea’s annual operating profit soared past 100 billion won (US$94 million) for the first time last year, despite intense competition in the domestic cafe sector.

    Industry sources told Yonhap news service the record result was driven by solid demand from young consumers.

    The operating profit of the coffee chain, which is run by South Korean retail conglomerate Shinsegae, was estimated at 110 billion won last year, according to the sources. Sales were estimated to have reached 1.2 trillion won (US$1.128 billion).

    The company’s annual revenue first topped the 1 trillion-won mark in 2016, setting a milestone in the South Korean coffee industry.

    The figures for its competitors, such as A Twosome Place and Angel-in-us Coffee, are known to average between 100 and 200 billion won, according to industry sources.

    Starbucks, which opened its first Korean branch near Ewha Womans University in Seoul in 1999, had 1140 stores throughout the country as of last month.

    In December, the coffee chain opened its largest store in the country in Seoul.