Innovator of Juice & Smoothie Segment Partners with Shinsegae Group to Help Spearhead Growth
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.
To inquire about international franchising, please email Dan Hannah, Vice President of International Business Development: dan.hannah@smoothieking.com
Smoothie King Franchises, Inc. is a privately held, New Orleans-area-based franchise company with more than 700 units worldwide. By creating each smoothie with a purpose, Smoothie King makes it simple and pleasurable for guests to achieve their individual health goals. The franchise also offers a number of healthy retail products, including sports beverages, energy bars, vitamins, supplements and more.
Smoothie King was founded in 1973 by Steve Kuhnau, whose mission was to help others achieve better health in a tasty way. In 1989, Smoothie King became the first smoothie franchise in the U.S. and currently operates in 33 states, the Caymans, Singapore and the Republic of Korea. In 2015, Smoothie King was ranked No. 1 by Entrepreneur magazine in the juice bar category for the 21st year and No. 79 overall on the 2015 Franchise 500 list. In 2014, Smoothie King partnered with the New Orleans Pelicans of the National Basketball Association to launch the Smoothie King Center, a multi-purpose indoor arena in New Orleans, Louisiana. Visit www.smoothieking.com or www.smoothiekingfranchise.com; engage on Facebook at www.facebook.com/SmoothieKing; follow on Twitter at http://twitter.com/smoothieking.
Shinsegae was originally part of Samsung Group, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment), Saehan Group (Electronic Media/Apparel/Textiles), and the Hansol Group (Paper/Telecom). Over the past 80 years, Shinsegae has been leading the affluent living culture of Korea by ceaselessly striving to advance in the distribution industry from Shinsegae and E-mart, the first department store and discount store of Korea, to premium outlets, and is in direct competition with Lotte Shopping and Hyundai Department Store Group. Currently it is the largest retailer in South Korea. Shinsegae is also famous for its long history. The main branch of Shinsegae is the oldest department store in Korea. The main building of the store was opened in 1930 as the Gyeongseong branch of Mitsukoshi, a Japanese department store franchise. The store was acquired in 1945 by the late founder of Samsung group, Lee Byung-chull, and renamed Donghwa Department Store. After the Korean War (1950–1953) began, it was used for several years as a post exchange by the American army. In 1963, the store was given the name Shinsegae. The old building is currently used as a luxury hall. Now, Shinsegae is creating a happy world through continuous value creation for customers and new attempts that take the world by surprise. Shinsegae is endeavoring to achieve harmonious coexistence with all stakeholders by realizing transparent and fair management while cooperating with and competing against others in the global stage.
