Genesis BBQ Group has officially entered the Indian market. Following the United States and Latin America, it is speeding up its global expansion by extending its reach to India, with a population of 1.4 billion.
BBQ said on the 3rd that it recently opened two locations simultaneously in southern India's Bengaluru: the HSR Layout location and the Koramangala location. It is partnering with local corporations under a master franchise (MF) agreement. HSR Layout, where the first store opened, is a mixed residential-commercial district adjacent to an information technology (IT) business hub, and Koramangala, where the second store is located, is a district clustered with global dining brands. Bengaluru is India's representative IT and startup city, with a large base of young office workers and high-income professionals.
The two stores are set up as casual dining in a QSR (quick service restaurant) format. Along with chicken items such as Golden Fried, Secret Seasoning, and Soy Garlic, they sell burgers, tteokbokki, and kimchi fried rice. They also reflected local food culture. All chicken items are certified under one of the world's top three halal standards (Malaysia's JAKIM), and given the large vegetarian population, they also offer vegetarian items such as a vegetarian burger and Golden Cauliflower.
India is a market where demand for Korean food is rapidly increasing in step with the spread of K-content. According to the Korea Trade-Investment Promotion Agency (KOTRA), orders for Korean food on Indian delivery platform Swiggy in July last year rose 50% from the same month a year earlier. The base is also widening, with growth in second-tier cities such as Surat and Mysuru outpacing that of major cities.
Based on last year's consumer sales, BBQ's global sales were 450 billion won, up 12.5% from the previous year. Of that, U.S. sales were 340 billion won, an increase of more than 13%. It currently operates in 33 U.S. states, and in Mar. it opened its first South American location in Medellín, Colombia. It operates about 800 stores in 57 countries worldwide. The company plans to expand from Bengaluru to major cities in southern India, including Hyderabad, Chennai, and Vellore.
Chairman Yoon Hong-geun said, "Building on the business experience and global operating capabilities accumulated in the United States, we have expanded our business scope to India, which has high growth potential, following Latin America," and added, "With a localization strategy that reflects each country's food culture and consumer characteristics, we will lead the globalization of K-food."