As Korean pop culture further makes its mark on the United States, Bonchon has been a part of the movement spreading the joy of its hand-battered, double-fried Korean fried chicken.
Bonchon’s year-over-year sales increase of 12 percent is outperforming the industry average and leading the fast casual and casual dining segments per Black Box Intelligence data. Since the time VIG Partners invested in the company at the end of 2018, its AUV has increased by 24.7 percent to $1.57 million, and this growth has continued through the early part of the year.
“Heading into 2022, we had a focused strategy of building sales and trimming costs where possible, to minimize the impact of high commodity and transportation costs. We also continue to remain dedicated to the quality of our food, giving people a taste of Korean culture as well as providing a strong franchise opportunity to our partners,” says Flynn Dekker, CEO of Bonchon. “Our 20th anniversary is on the horizon this fall and we have much to celebrate with our fans and can’t wait to do it in true Bonchon style.”
The brand is also experiencing location growth in both the United States and internationally. Throughout the United States, it has opened a combination of its new fast casual and full-service model locations in California, Colorado, Minnesota, Texas and Virginia with plans to grow by 20 percent before the end of the year. Since the start of 2022, it also opened new international restaurants in Thailand, Myanmar and Vietnam with its first location coming to France later this year.