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THE INVESTOR
September 29, 2022

Market Now

70m Pokemon bread sales provide record Q2 revenue for SPC Samlip

  • PUBLISHED :August 11, 2022 - 09:01
  • UPDATED :August 11, 2022 - 09:01
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SPC Samlip’s Pokemon Bread products (SPC Samlip)

South Korean confectionery company SPC Samlip said Wednesday that it had posted an all-time high sales record of over 800 billion won ($611.4 million) in the second quarter, driven by the popularity of its Pokemon Bread, of which the company sold 70 million packs for the last six months.

The company’s second-quarter sales surged on-year by 14 percent to 814.9 billion won, while its net profit skyrocketed by 61.5 percent to 23.5 billion won in the cited period. Key growth drivers were its bakery and food business, said SPC Samlip. The company added that its bakery and food divisions recorded 204 billion won and 200.7 billion won in sales, up by 27 percent and 17 percent, respectively.

In particular, Pokemon Bread -- an iconic pastry series for kids born in the 1990s -- has boosted the company’s bakery sales since its comeback in February, according to the company.

Tapping into the nostalgia trend among its dedicated fan base, the bread prompted a Pokemon boom for kids and adults obsessed with collecting character-engraved stickers inside the Pokemon Bread packaging.

On Instagram, there are currently over 215,000 “Pokemon Bread” hashtags featuring the retro items. Some people even waited in long lines for an “open run,” a term in Korea that refers to when customers dash into stores as soon as they open to get their hands on a highly-desired item.

By making improvements to its logistics system and expanding e-commerce channels, SPC Samlip posted record-high second-quarter sales of 477.2 billion won in the distribution business.

Sales in highway rest areas, battered by the coronavirus pandemic, have turned a profit. One of the largest rest areas in Gapyeong, Gyeonggi Province, saw its sales rise 30 percent thanks to relaxed social distancing measures starting from April.

Overseas sales increased by 30 percent in the second quarter compared to a year earlier. Its US sales showed the steepest growth by 60 percent.

The company plans to expand its footing in the global market by promoting its key food products -- Samlip Hobbang (Korean steamed bun filled with sweet red bean paste), yakgwa (Korean honey snack) and instant noodles.

“In the second half of this year, we expect a greater rebound in highway rest areas and more growth in the distribution business,” said an SPC Samlip official.

By Byun Hye-jin (hyejin2@heraldcorp.com)

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