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CJ Foodville opens its first steak house in China

All Headlines 13:40 September 17, 2012

By Kim Young-gyo

HONG KONG, Sept. 17 (Yonhap) -- CJ Foodville Corp., South Korea's largest restaurant franchise, said Monday it has opened its first steak house in China in a bid to tap deeper into the world's fast growing food services industry.

CJ Foodville started to operate the first Chinese shop of its flagship VIPS steak restaurant chain in Beijing, the company officials said.

The new restaurant is situated along with CJ's other chain stores -- bakery brand Tous Les Jours, coffee shop Twosome Place and Korean restaurant BBGO in the center of the capital, they said.

The multiplex franchise building marked the 100th foreign outlet of the food and beverage service franchises operated by CJ Foodville. The company has been making inroads into global markets since 2004.

CJ Foodville is the restaurant-operating arm of CJ Group, a South Korean food and media conglomerate.

China expects its restaurant and catering industry to achieve yearly average growth of 18 percent with 3.3 trillion yuan (US$478 billion) in sales by 2013.

China aims to set up 100 restaurant groups, with each generating more than 1 billion yuan in annual sales by 2013.

Such a goal is in line with the country's move to drive domestic consumption amid its efforts to transform itself into a more consumption-oriented economy.

ygkim@yna.co.kr
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