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Genesis BBQ Group Chairman Yoon Hong-geun (center) takes part in a ribbon-cutting ceremony alongside officials for the opening of its second branch in Panama located in Albrook Mall, Panama City, Wednesday. (Genesis BBQ Group) |
Korean fried chicken franchise Genesis BBQ said Thursday that it has recently opened its second restaurant in Panama, in a move to accelerate its expansion into the Central American market.
The opening ceremony was held at Albrook Mall, in Panama City on Wednesday, with top executives including Genesis BBQ Group Chairman Yoon Hong-geun in attendance.
The Albrook Mall, where BBQ’s Albrook branch is located, is the largest shopping complex in the Central and South American region. Located close to domestic airports, bus terminals, and subway stations, the mall is ideally situated for attracting many customers including tourists, the franchise said.
On the day of the grand opening alone, the restaurant posted $4,000 in sales.
"As we have entered a large shopping mall with more than 2.7 million visitors annually, we will make the most of our advantageous location to expand our presence in Panama,” an official from BBQ explained.
The latest expansion follows the successful launch of its first branch in the San Francisco district of Panama City in May. Since the opening, it has enjoyed wide popularity among locals, posting an average daily sale of $5,000.
Popular menu items among locals include its signature Golden Olive Chicken, as well as Galbi Chicken and Soy Garlic Chicken, which use Korean-style seasonings.
“With this expansion, we aim to lay the foundation to promote Korean chicken globally throughout the Americas," Genesis BBQ Chairman Yoon stated, adding, "We seek to leap forward as a global brand that can cater to diverse palates of people all over the world."
Yoon also cited his plan to further penetrate into Central America.
“We are currently considering opening a first branch in Costa Rica as well.”
Currently, BBQ operates over 700 stores worldwide in 57 countries, including Panama, the US, Canada, Germany, Japan and Malaysia. It aims to open 50,000 stores worldwide by 2030.
Last year, BBQ became the first Korean franchise company overseas to be named the second-fastest growing restaurant chain in the US, according to a survey conducted by Nation’s Restaurant News, an American publication covering the food service industry.
