Brand partners with Shinsegae group to grow Korean locations and expand into Vietnam.
With more than 700 locations globally and plans to top 1,000 locations internationally by the end of 2017, Smoothie King is proud to announce its partnership with Shinsegae Group, which will take ownership of the 105 Smoothie King locations in Korea and launch the brand’s presence in Vietnam.
Shinsegae Food, an integrated food distributor and manufacturer in Korea, plans to boost the food and beverage sales of Shinsegae Food up to 5 trillion South Korean Won by 2023. Shinsegae Food was drawn to Smoothie King due to its impressive growth, both internationally and domestically, and its innovative menu that offers nutritional solutions and “Smoothies With A Purpose.”, indications of supporting their own aggressive growth.
“We are thrilled to add Smoothie King to our portfolio and to build our food service unit with such an esteemed beverage leader,” said Mr. Kim President of Shinsegae Food. “We’re impressed by the success of the brand, and as healthy food and beverages continue to be in demand, we know we can achieve similar success as we introduce the brand to Vietnam.”
Smoothie King is poised for international success with its fine-tuned business model and high-quality products that stay ahead of the curve. One-off juice and smoothie businesses have been popping up all over the world, but Smoothie King differentiates itself as an originator and pioneer in this space, evolving to meet guest’s health needs since 1973. The mission since the company’s inception carries through to today: to inspire people to live a healthy and active lifestyle.
“This deal is monumental for Smoothie King – and one that we thought long and hard about. I was the Master Franchisee in Korea and bought the brand in 2012, making growth a primary goal for the company. By partnering with dedicated and passionate partners like Shinsegae Food, who are on the ground and able to run day-to-day operations, we are able to continue to expand our footprint worldwide, while preserving brand integrity,” said Smoothie King CEO Wan Kim.
Smoothie King is currently located in Korea, Grand Cayman and Singapore, and the company also signed an Area Development Agreement to develop 45 locations in the Middle East this year. In addition to Vietnam, the company is pursuing development in Japan, China, India, Indonesia, the Philippines, Taiwan, Australia and Brazil.
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