PARIS, July 31, 2024 /PRNewswire/ -- CJ Foods Europe has unveiled its ambitious plans to reach €1.0 billion in sales by 2030. This vision underscores the company's commitment to K-food globalization in the European market and beyond, with its iconic global brand bibigo at the forefront.
The 2024 bibigo Media Day in Paris, held on the 30th at Maison de la Chimie, invited French and European journalists to explore bibigo's European expansion strategies and experience the bibigo booth at KOREA HOUSE during the Olympic Games Paris 2024.
Yujin Shin, Head of CJ Foods France, outlined a three-pronged strategy. This strategy also includes offering a variety of authentic K-food made with genuine ingredients, easing trials with locally adapted flavors, and enhancing brand awareness by maximizing consumer touchpoints.
"We have one plant in Germany to guide all supply chains through Europe. However, we have a presence in retailers all around the continent, including Ocado, Sainsbury's, ASDA in the UK, and Albert Heijn, Jumbo, Hoogvliet in the Netherlands, and Carrefour in Belgium. With the expansion of supply chains in Europe and negotiations underway with major mainstream retailers in France, all European consumers should expect to find their beloved bibigo products at their nearest store by the end of 2024," Shin said.
Hyokyo Suh, Head of CJ Foods Europe Business, added, "Since its establishment in 2018, CJ Foods Europe has experienced steady growth, achieving a 66% compound annual growth rate. We attribute this success to bibigo's commitment to product diversity and authenticity. By offering a wide range of products and ingredients that showcase the true essence of Korean cuisine, bibigo seamlessly combines convenience and uncompromising quality.
Due to the global influence of K-culture such as K-pop, K-films, and K-beauty, bibigo now has a 48.4% frozen dumpling market share in the UK, and recently announced its entry into Oseyo, the UK's largest Asian supermarket in the North.
The bibigo zone at KOREA HOUSE, open from July 26 to August 11, is vital to bibigo's marketing strategy to introduce authentic Korean cuisine to European consumers. Located in the heart of Paris, the booth is inspired by a traditional Korean street market, or "Sijang," known for its vibrant energy and community spirit.
"By bringing the essence of a Korean Sijang to Paris, we aim to create a platform for local retailers and distributors to experience authentic Korean cuisine's rich diversity and cultural significance." Visitors can enjoy a variety of Korean street foods, including freshly prepared mandu (Korean dumplings), jumeokbap (rice balls), tteokbokki (sweet and spicy rice cakes), and kimchi, and participate in various K-cultural experiences like K-beauty exhibitions and photo sessions.
Since its establishment in 2010 by Korea's no. 1 food company, CJ Foods, bibigo has become America's leading Korean food brand, celebrated for its authentic and diverse culinary offerings. As of 2023, CJ Foods' overseas sales have reached an impressive 3.6 billion euros, with Europe playing a pivotal role in its international growth.
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