Paris Baguette partners with Caffe Pascucci to open store in Italy
SPC Group Chairman Hur Youngin and Caffe Pascucci CEO Mario Pascucci signed a memorandum of understanding (MOU) to bring SPC’s bakery chain Paris Baguette to Italy and the rest of Europe, SPC said Sunday.
Hur and Pascucci agreed the same day that after SPC helped the Italy-based coffeehouse franchise enter the Korean market 22 years ago, it was time for Pascucci to help the Korean company do the same in Italy.
Mario Pascucci, whose great-grandfather founded the Italian brand in Monte Cerignone in 1883, which is now operating in 17 countries, signed the MOU to run Paris Baguette in Italy under a master franchise deal.
The deal came after over a year of negotiations between the two companies.
With the deal, Italy becomes the third European nation to host Paris Baguette, following France and Britain.
After signing the deal, the Italian visited his company’s Centro Yangjae shop in Seoul, the latest Pascucci store in the country. He then visited Pangyo in Seongnam, Gyeonggi Province, to check the Lab of Paris Baguette, one of the bakery chain’s flagship stores here which will be replicated in Italy following the deal.
“We consider Italy a significant European market as the country has the region’s biggest bread market and boasts a rich bread culture,” Hur said. “We’ll keep our partnership with Pascucci sustainable while striving to contribute to improving the diplomatic tie between the two countries.”
Pascucci, referring to Paris Baguette as a global brand that currently runs some 7,000 stores across 11 countries including Korea, said he believes that the brand will attract local consumers in Italy as well.