SPC Group Acquires License to Operate Shake Shack in Malaysia
SPC Group announced on January 7, 2022 that it had acquired a license to operate Shake Shack in Malaysia by concluding the ‘Licensing Agreement for Managing Businesses in Malaysia’ with Shake Shack Enterprises, LLC located in New York, United States.
Based on this licensing agreement which is the third one following licenses for Shake Shack business in Korea and Singapore, SPC Group plans to open the first Shake Shack store in Malaysia in 2023. And it will continue to expand Shake Shack stores, expecting potential synergy effects with the global business of Paris Baguette that is growing fast in the halal food region and Southeast Asian markets.
“SPC Group and Shake Shack have been progressively building long-standing partnership by opening 28 Shake Shack stores in Korea and Singapore,” said Hur Hee-soo, Vice President of SPC Group who played a key role in introducing Shake Shack into Korea. “We will continue to collaborate with the partner in various ways.”
Shake Shack chose SPC Group as a partner for expanding its business to the Malaysian market instead of a local company in recognition of the outstanding business capabilities of SPC Group that is operating Shake Shack stores in Korea and Singapore.
Since it launched the first Shake Shack store in Seoul in July 2016, SPC Group opened 20 stores in Korea to date, and Shake Shack Gangnam Store recorded the largest sales among stores in the world. Since it opened the first Shake Shack store in Singapore in 2019, the Group is currently operating 8 stores in core commercial districts, such as Orchard Road, Neil Road and Gardens by the Bay. Moreover, among Shake Shack’s partners, SPC Group is the only partner that produces buns by itself to supply to affiliated Shake Shack stores, demonstrating widely recognized world-level research and development (R&D) capacity and quality.
“Thanks to the love of global customers, we could announce a greater leap in Southeast Asia,” said Michael Kark, Chief Global Licensing Officer (CGO) at Shake Shack. “We will exert efforts to deliver the brand value of Shake Shack in Malaysia in partnership with SPC Group.”
