Wikipedia

A Twosome Place

A Twosome Place (Korean: 투썸플레이스), is a premium dessert cafe and coffee franchise in South Korea. It was founded in 2002 in Sinchon and operates more than 1,640 stores nationwide as of the end of 2023.[2] After launching the franchise business in 2008, CJ Foodville's coffee division was spun off and incorporated in February 2018, and was acquired by US private equity firm Carlyle Group in 2021.[3]

A Twosome Place
IndustryFood service
FoundedSouth Korea (2002; 22 years ago (2002)) (February 1, 2018 (Incorporation))
Headquarters
170, Eulji-ro, Jung-gu, Seoul, Republic of Korea
Number of locations
1000+ stores (2021)
OwnerThe Carlyle Group, through Trinity Holdings, L.P. (100%)
ParentCJ Foodville (CJ Group; 2002–2020)
Anchor Equity Partners (2020–2021)
The Carlyle Group (since 2021)[1]
Websitewww.twosome.co.kr
Eunpyeong Hanok Village branch, Seoul in 2022

Meaning of A Twosome Place

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A Twosome Place’s brand name means a pleasant place to enjoy a small luxury. 'A CUP OF COFFEE' (with a warm cup of coffee), 'TWO' OF US' (with us), 'SOME' DESSERT (with differentiated desserts that are pleasing to the eye and mouth), and 'PLACE' (a happy space where you can enjoy small luxuries).[4]

About

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It started with the launch of the A Twosome Place (투썸플레이스) brand in 2002, and started the franchise business in 2009. In 2010, it achieved 100 chain stores. 2011 opened its first new franchise in China, not in Korea. Twosome Place has had nearly 100 franchises each year and opened its first complex store in Ridu, China's in 2012. In 2016, the company opened the 'Roastery cafe', a flagship store for modern people who can enjoy special coffee and dessert, as well as a place to see the process of roasting beans and making Cold Brew.

At present, it has 1,000 stores in Korea and 45 overseas stores. It ranks No. 1 in profits at Korean franchises except Starbucks.

Except for Starbucks, which operates only direct stores, Twosome Place's sales are ranked No. 1 in Korean cafe sales. In addition, since the introduction of TWG in 2014, sales have increased by more than 60%.[5] In addition, a total of 180 billion won in overseas investment was realized by raising 50 billion won through the issuance of new shares after selling 130 billion won in shares to ordinary shares in February 2018.[6]

History

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It started with the launch of the A Twosome Place (투썸플레이스) brand in 2002, and started the franchise business in 2008. In 2010, the brand surpassed the 100th store and renewed its BI. Over the past 20 years, it has established itself as a leading brand in the domestic coffee specialty store market with a differentiated concept that allows customers to enjoy coffee and desserts together. Since its launch, the brand has attracted attention by offering premium desserts such as macaroons and tiramisu along with high-quality coffee, and is still leading the way as a dessert café. In 2018, the brand surpassed 1,000 stores and has more than 1,640 stores in Korea as of the end of 2023.

  • 2002: The first Twosome Place opened in Sinchon, Korea
  • 2008: Started franchise business
  • 2010: The 100th store opened
  • 2014: Launched the industry’s first ‘bean dualization service’
  • 2016: Opened the 1st Drive-Thru store
  • February 2018: CJ Foodville sold its 40% stake in CJ Foodville after establishing A Twosome Place corporation
  • November 2018: Merged with affiliated company Mimi (bread and confectionery manufacturer) and acquired Jeong-eup Dessert Plant (Awesome Dessert Plant)
  • April 2019: Hong Kong-based private equity firm Anchor Equity Partners acquired an additional 45% stake in CJ Foodville
  • May 2019: Renewal of 'Black Ground' and 'Aroma Note' beans
  • June 2019: Inauguration of CEO Lee Young-young
  • April 2020: Introduced SWP decaffeinated beans
  • June 2020: Anchor Equity Partners acquired 15% of CJ Foodville's remaining stake
  • July 2021: Renewal of brand app and membership service 'Twosome Hearts'
  • November 2021: Acquired by US private equity firm Carlyle Group
  • July 2022: Completed the Awesome Pairing Plant, a production plant specializing in coffee and desserts
  • July 2023: Moon Young-joo takes over as CEO

Products

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COFFEE

A Twosome Place selects only the freshest coffee beans from premium origins, curated by their Q-Grader. The beans are then crafted into three distinct blends, each with its unique character.

A Twosome Place offers three unique blends: Black Ground, Aroma Note, and SWP Decaf. Black Ground is dark roasted for a deep, rich, and chocolaty flavor, while Aroma Note is fruity and floral with minimal flavor loss for a lighter body and fresher taste than Black Ground.[7] The company also offers SWP Decaffeinated, which uses the Swiss Water Process (SWP) method of decaffeinating green coffee beans by soaking them in clean water without using chemicals.

DESSERT

A Twosome Place’s dessert selection includes cakes, macarons, chocolates, and ice cream. Their desserts include cakes, macarons, chocolates, and ice cream. The cakes are available in whole cakes as well as slices. Among them, the signature flavors are S'choseng (Strawberry Chocolate Cake) and A-bak (Ice Box). S’choseng has sold 10 million pieces in the 10 years since its launch in 2014. The A-bak (Ice Box) is an American homemade-style cake with layers of mascarpone cream and black cookies, which was launched in 2015 and popularized the concept of ‘scooping cake' in the Korean dessert industry.

TWG TEA

Recognizing the growing demand for tea among its 2040 customers, A Twosome Place secured an exclusive partnership with TWG, the first of its kind in the coffee specialty store industry.[8] Based in Singapore, TWG is a premium tea brand, domestically sold in limited venues such as 5-star hotels and luxury department stores. A Twosome Place offers Earl Grey, Mint, Chamomile, Cream Caramel(Rooibos), and Black Tea.

Sales Status

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In 2017, A Twosome Place opened the most stores among large coffee shops in Korea. From 2016 to 2018, the number of stores increased from 798 to 950, a total of 152 stores. According to a survey at the end of 2015, A Twosome Place had the highest average annual sales per franchisee among the ten companies surveyed, at 483 million won.[9] In addition, sales have expanded by more than 60% since the introduction of TWG in 2014. Even during COVID-19, the company posted growth in operating profit and net profit of 5% and 3%, respectively, in 2020, compared to Starbucks, whose operating profit decreased during the same period.[10] In July 2022, the company invested approximately 40 billion won to build the Awesome Pairing Plant in Eumseong, Chungcheongbuk-do, with automated production lines for coffee roasting and desserts.[11] Based on aggressive investment and marketing activities, the company posted its best-ever performance in 2023, with sales up 12.1 percent and operating profit up 19.3 percent, despite intense competition in the café industry.[12]

References

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  1. ^ Kim, Chae-yeon (November 19, 2021). "Carlyle buys coffee franchise A Twosome Place for over $800 mn". The Korea Economic Daily Global. Retrieved April 19, 2024.
  2. ^ ""3000점 시대" 메가커피, 韓매장수 1위 이디야 연내 추월 가능성". 10 May 2024.
  3. ^ "[친절한 Ib씨] 22년 전 대성공 후 돌아온 칼라일···연초부터 빅딜 예고".
  4. ^ "Unknown".[permanent dead link]
  5. ^ "스타벅스 이어 코카콜라도 나섰다…'춘추전국시대' 맞은 국내 차(茶)시장". ChosunBiz (in Korean). 19 March 2021. Retrieved 2021-05-01.
  6. ^ "투썸플레이스, 해외에서 돌파구 찾을까(종합)". 연합인포맥스 (in Korean). 2018-02-28. Retrieved 2021-05-01.
  7. ^ "[장수브랜드 탄생비화]어느덧 20년, 일상 속 녹아든 '투썸플레이스'". 11 December 2022.
  8. ^ "투썸플레이스, 싱가포르 명품 차 'TWG' 업계 단독 출시".
  9. ^ "'투썸플레이스' 지난해 최다 오픈…"스타벅스보다 잘 나가네"". Money Today [ko] (in Korean). 2018-03-30. Retrieved 2024-08-26.
  10. ^ "[외식 프랜차이즈 리포트]투썸플레이스, 론칭 20돌 '채널·인프라' 힘준다". 더벨뉴스 (in Korean). Retrieved 2024-08-26.
  11. ^ "[커피전문점 지각변동]투썸플레이스, 음성·정읍공장 투트랙 '원두·디저트' 경쟁력 제고". 더벨뉴스 (in Korean). Retrieved 2024-08-26.
  12. ^ 류, 난영. ""특화매장 전략, 가맹점 상생 통했다" 문영주 투썸플레이스 대표 [이주의 유통人]". Naver News (in Korean). Retrieved 2024-08-26.
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