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Tteokbokki franchise Dookki sees rapid overseas growth

Collected: 2024.02.19

Distributed: 2024.02.20

Source: Go Direct

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Dookki at Lotte Mall in Hanoi, Vietnam

South Korea’s instant tteokbokki franchise, Dookki, has continued its remarkable growth, with its 2023 sales topped 120 billion won ($90 million), and an eye-catching achievement in its eighth year of international expansion.

According to the franchise on Sunday, the company’s overseas sales totaled 123 billion won in the past year, experiencing a sharp increase of 112 percent compared to 58 billion won in 2020. The number of overseas operating stores also doubled from 80 in 2020 to 164 in 2023.

Dookki, which first ventured abroad in 2016, has consistently increased its number of new international stores each year, with 13 in 2021, 40 in 2022, and 56 in 2023. Fueled by the popularity of Korean food globally, the franchise has seen rapid growth overseas, with international sales accounting for about 30 percent of the total revenue.

The franchise is currently present in nine countries, including Vietnam, Taiwan, Thailand, the Philippines, Indonesia, Malaysia, Singapore, Australia, and the United States. The franchise achieved a remarkable feat in the Philippines in particular by becoming the top-performing outlet among the countries it has entered, with a 30 percent surge in sales in 2023. Vietnam and Malaysia followed closely with notable growth trends.

By Kim Geum-yi and Minu Kim

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