CJ CheilJedang wants to sell lots of dumplings in Europe

CJ CheilJedang's long term goal is 500 billion won ($384.3 million) worth of sales in Europe by 2027, powered by its Bibigo dumplings and vegan products.

CJ CheilJedang's Bibigo dumplings are sold at a discount mart in Seoul. [YONHAP]

CJ CheilJedang's long term goal is 500 billion won ($384.3 million) worth of sales in Europe by 2027, powered by its Bibigo dumplings and vegan products.

The company announced goals Tuesday for the European market, which it entered in 2018. Revenues this year in Europe should be 60 billion won, it said.

CJ CheilJedang will introduce new vegan dumplings in the European market in the third quarter, targeting the big vegan population. Dumplings with chicken fillings, which the company says is preferred by Europeans over other meats, will be sold too.

It also plans to sell its Hetbahn microwavable rice in more stores.

Acquiring local food companies to expand in Europe is another option. In 2018, CJ CheilJedang acquired Schwan’s, a frozen food manufacturer in the United States, to expand that market.

“Our global business plans aren’t complete without Europe, and we need a plan that will allow a quantum jump,” said Choi Eun-seok, CEO of CJ CheilJedang in a release on Tuesday.

“We saw huge potential after witnessing consumers pick up Bibigo products at discount marts in London and Paris, and our employees in Europe also show huge determination to become the global leading company.”

CJ CheilJedang established a wholly owned subsidiary in Britain in May to focus on the European market. It finished construction of a factory in Vietnam in February, which will be used to produce exports to European markets.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]