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| ▲ A Paris Baguette franchise store in Seoul (Yonhap) |
bakery franchise-price cut
Paris Baguette to lower prices of 11 products following cut in sugar price
SEOUL, Feb. 26 (Yonhap) -- Paris Baguette, a bakery franchise under South Korean food and beverage giant SPC Group, said Thursday it plans to lower prices of 11 food items starting next month, marking the first such move by a major food franchise following recent cuts in domestic sugar and flour prices.
Paris Baguette said it will lower the prices of 11 bread and cake products by between 100 won (US$0.07) and 1,000 won starting March 13.
The decision comes after domestic sugar and flour producers lowered prices by around 5 percent following a criminal investigation into alleged industry collusion. A total of 52 business executives in the two sectors have been indicted on suspicions of colluding to fix prices.
"Although we face continued cost pressures, we decided to lower prices to ease consumer burdens and contribute to price stability," an SPC Group official said.
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