November 20, 2024

Marugame Seimen is About to Make its Comeback in Korea Soon

Toridoll Holdings is set to return to South Korea in 2025. On the 19th, the company finalized an agreement with Lotte Group, a leading Korean distributor known for its burger chain Lotteria, allowing it to franchise the udon restaurant Marugame Udon in Korea. The first location is planned to open in Seoul in 2025, with aspirations to expand to over 50 stores thereafter.

To re-enter the market, the company formed a "master franchise" agreement with Lotte GRS, a restaurant subsidiary of the Lotte Group, granting exclusive rights to operate Marugame in Korea. Lotte GRS will handle store operations. In addition to Lotteria, this company also runs Krispy Kreme Doughnuts in Korea. Toridoll Holdings seeks growth by partnering with prominent restaurant firms that understand local real estate and consumer demands.

Within two to three years of launching the first store, it aims to open locations in diverse formats, including shopping malls, airports, and street-front outlets, thus establishing a strong base for expanding its store network. Additionally, both parties will explore opportunities to introduce Toridoll's other brands to Korea.

In 2012, Toridoll Holdings launched a subsidiary in South Korea by inaugurating its first directly operated store in Seoul. At its highest point, the company ran 12 stores but had to shut down operations in August 2021 due to a boycott of Japanese products and services and declining business due to the COVID-19 pandemic.

Toridoll Holdings states that Korea boasts a vibrant noodle culture, featuring menu items akin to Japanese udon, along with chain restaurants offering these dishes. There is a belief in the potential acceptance of Japanese-style products, like Marugame, in this market.

Toridoll Holdings is ramping up its international growth. On the 15th of November, it established a foundational agreement with Charoen Pokphand (CP) Group, a prominent Thai conglomerate, to initiate talks about a business collaboration to enter the restaurant sector in Thailand.