Jaws Food Co. has reportedly announced that Tteokbokki (chilly rice cake) & gimbap (rice rolls), its signature Korean street food combo, will be available for delivery in the U.S. The country is the largest snack market across the globe.
As per the statement made by Na Sang-gyun, CEO of Jaws Food, the 1st overseas delivery market of the company is Vietnam, which has been expanding since November 2019. The delivery market in this region has been significantly growing by 10% per month since the 2nd half of 2019, with millennials or Generation Y taking up 75% of the population. He further added that the company is targeting to develop a local branch & open a restaurant following the ease of travel restrictions by the government, with an aim to promote its Korean street food in the global market.
Jaws Food had established a test store through Baemin Kitchen, its shared kitchen service, in the Ho Chi Minh city in November, where it sells fried food, Tteokbokki, and gimbap. This has aided the company in raising $16.809 (20 million won) in sales per month as well as led to a considerable rise in orders per day by reaching 120-150.
The company has recorded an immense domestic market growth, owing to the rising trend of ordering foods online during the COVID-19 lockdown. For example, the sales of Tteokbokki have surged 56% to 10 billion won in the 1st half of 2020, as compared to a year earlier. Additionally, Bareuda Kimseonsaeng, its gimbap restaurant chain, has registered a rapid increase in sales by 112% to 7 billion won in the same period. The company has been gaining widespread prominence amid the pandemic, adding 22 new Tteokbokki stores as well as 12 branches of Bareuda Kimseonsaeng in the 1st half of this year. In order to drive offerings, it also has bolstered its contactless delivery, mobile & kiosk ordering & payment services. Jaws Food is aiming to reach 50 billion won in sales in 2020.