CJ Foodville, the food service subsidiary of South Korea's CJ Group and the operator of the bakery chain brand Tous les Jours, announced on Monday that it signed a master franchise agreement with Singaporean company Royal T Group to open Tous les Jours stores in Singapore.
With this expansion, Tous les Jours will now be present in eight overseas countries, including Singapore.
CJ Foodville plans to focus on establishing a strong presence in the Singaporean market through collaboration with its partner company.
The first store is set to open this year, offering various products including meal breads, pastries, and desserts. Following the opening of the first store, the company plans to expand its presence within Singapore and consider entering neighboring countries.
Singapore has a per-capita GDP of $90,000 and a well-developed dining-out culture. According to Euromonitor, Singapore's franchise market was valued at approximately $3.1 billion last year and is expected to grow by 6.6% annually over the next five years, reaching $4 billion by 2027.