BBQ's overseas subsidiary revenue surpasses $72 mn in 2023
Sul-Li Jun
Jul 03, 2024 (Gmt+09:00)
Customers eat Korean fried chicken at a BB.Q restaurant in Manhattan, New York (Courtesy of Genesis BBQ) Genesis BBQ Group announced on Wednesday that the revenue of its overseas subsidiaries last year reached 110 billion won ($79.1 million), marking a 70% increase from the previous year.
BBQ estimates that the revenue from sales by its overseas franchisees to their consumers amounted to 300 billion won ($216 million).
BBQ held the "2024 Global Strategy Meeting" at Chicken University in Icheon, Gyeonggi Province, to evaluate these achievements from June 25.
"Last year saw the largest global growth," a company source said. "During the strategy meeting, we presented regional business strategies and shared success know-how by country."
BBQ operates around 700 stores in 57 countries and has recently expanded its business into Southeast Asia and Oceania.