S Korean Favorite EGGDROP to Open Stores in Philippines
EGGDROP, Korea’s premium Korean egg sandwich brand by Golden Hind Co., Ltd, announced the opening of its second global store in the Philippines following Bangkok, Thailand.
EGGDROP’s entry into the Philippines follows a 10-store agreement in Thailand, the brand’s first country of global expansion. It completes a multi-franchise agreement to open five stores in the Philippines.
EGGDROP will launch two stores in the Philippines in the first half of 2024, followed by three additional stores in the second half of the year in key locations.
EGGDROP’s entry into the Philippine market is part of Golden Hind’s aggressive overseas expansion strategy, which aims to provide Filipino consumers with a new gastronomic experience that is both delicious and healthy.
Starting with its first store in 2017 and completing the opening of 298th stores in South Korea (as of November), EGGDROP has achieved sustained sales growth in a short time thanks to its sensational product design, healthy and delicious “egg food” concept, and Instagrammable food and package design.
Building on this growth in Korea, EGGDROP has recently received franchise inquiries from more than 30 countries around the world, including the United States, Hong Kong, Japan, Taiwan, and India.
“We are very excited to announce EGGDROP’s second international expansion,” said Youngwoo Noh, CEO of Golden Hind. “We look forward to providing a fun experience for consumers in the Philippines,” said Mr. Noh. “In addition to Thailand and the Philippines, EGGDROP is actively seeking master franchise partners in other countries such as the U.S. and Japan to strengthen the brand’s presence globally.”
EGGDROP is a premium egg sandwich brand inspired by “complete food” eggs which cook a healthy meal around scrambled eggs made with 1 grade eggs and fresh ingredients.
Golden Hind is a young and innovative company that advocates “Food Venture” as a restaurant franchise corporation established in 2017 in Seoul. Currently, EGGDROP is the leading business and incubating various other brands.
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Nasoya to Showcase Plantspired Line at Global Produce & Floral Show
Nasoya, the country’s #1 brand of tofu and a leader in the plant-based movement, will showcase its successful Plantspired line of ready-to-eat plant-based meal solutions, including a first taste of forthcoming innovations, at this year’s Global Produce & Floral Show, Oct. 27-29 in Orlando, Fla.
Attendees will sample the popular Plantspired Steak marinated in Korean BBQ sauce as well as a new variety of Plantspired Toss’ables, which feature bite-sized, pre-baked tofu bites marinated with Korean Sweet Chili sauce. The new Plantspired Toss’ables variety will be available at retailers nationwide in 2023.
“Nasoya is committed to meeting consumers where they are on their plant-based journey, offering convenient and delicious Asian-inspired options that appeal to American’s evolving preferences,” said Ellen Kim, director of brand strategy & marketing communications at Pulmuone, parent company of Nasoya. “Our Plantspired products are better-for-you, plant-based solutions created with accessibility and sustainability in mind.”
Nasoya’s first expansion into plant-based meat alternatives, award-winning Korean BBQ Plantspired Steak, is continuing to gain traction with increased retail distribution and food service partnerships since its retail debut in March 2022. Applauded for its craveable taste and meat-like texture, Plantspired Steak has grown its retail footprint at over 4,000 grocers nationwide, with distribution at Wegmans, Publix, Sprouts, Stop & Shop, Albertsons, Vons, Pavilions and more. Sales of Plantspired Steak have increased 800 percent since it originally arrived in grocery stores, highlighting the consumer demand for plant-based food options that don’t sacrifice taste, quality, or nutrition.
Plantspired Steak also continues to make waves in the food service category with products now featured at university dining halls across the country – including University of California Riverside, University of California Los Angeles, Ohio State University, Georgia State University, University of Minnesota, Rice University, Vanderbilt and The University of Massachusetts Amherst. Plantspired Steak was also recently showcased and tasted at the popular Los Angeles Vegandale Festival, as well as at Natural Products Expo West earlier this year.
“We’ve worked hard to perfect a plant-based steak product that is charcoal grilled to perfection with Asian-inspired flavors, offering a premium experience in terms of taste and texture. We’re thrilled that our consumers’ reaction to our Plantspired Steak has matched our excitement,” said Sung Yoon Nam, vice president of marketing & sales at Pulmuone. “We’re looking forward to bringing consumers more authentic, sustainable and nutritious plant-based protein options that are convenient and easy to incorporate into a variety of meals.”
Global Produce & Floral Show is one of the largest international fresh produce and floral trade shows, bringing together producers, suppliers, distributors, and other thought leaders in the produce category. Visit Nasoya at the 2022 Global Produce & Floral Show at Booth #1905.
Pick up an issue of Produce Show Daily at the Global Produce & Floral Show. Subscribe to Gourmet News to keep up with trade shows of interest to the specialty food industry.
HKW Recapitalizes Golden Country Oriental Food, Golden Ocean Seafood
HKW has recapitalized Golden Country Oriental Food LLC and its wholly owned subsidiary, Golden Ocean Seafood Inc. The Lee family will remain significant investors in the company, and the management team will remain in place.
Golden Country is a distributor of authentic ethnic foods primarily servicing the grocery, wholesale, and foodservice channels. It is a distributor of frozen seafood servicing the same channels. The company carries more than 3,500 dry, refrigerated, and frozen SKUs sourced from over 20 countries.
“The Lee family has built a tremendous business,” said John Carsello, Partner at HKW. “We have a long track record in specialty distribution and believe we can be a value-added partner for Golden Country as the business enters its next growth phase.”
“From our beginnings as a small grocery store in the early 70s servicing customers in Chicago’s Chinatown, we have grown to service customers throughout the Midwest,” said Sidney Lee, CEO. “This new partnership with John Carsello and his team will enable Golden Country to achieve our ambitious growth objectives and continue to provide our customers with the best product selection at affordable prices.”
“Golden Country is poised to benefit from market and demographic trends and is in a good position to accelerate expansion through add-on acquisitions,” said Michael Terrell, Vice President at HKW. “We intend to use a comparable playbook at Golden Country as we have in the past on similar investments.”
Taft Stettinius & Hollister LLP served as legal counsel to HKW. G2 Capital Advisors, LLC acted as exclusive financial advisor to Golden Country.
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