November 23, 2024
Retail & Consumer
Smoothie King to end business in Korea
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A screenshot from Smoothie King Korea's homepage (Smoothie King Korea) |
Smoothie King is set to fully withdraw from South Korea over the course of the next year.
Smoothie King Korea, which operates the brand here, reportedly sent guides to close the shops by October 2025 on Friday.
The company failed to extend the licensing contract with the Smoothie King headquarters in the US, and the US franchise requested to end the contract, a Smoothie King Korea official told local media.
The brand first opened a location in Myeong-dong in central Seoul in 2003. It reached a peak of 305 locations across the country in 2021.
However, the smoothie business has been on a rough road in Korea lately, leaving the chain with just some 70 cafes as of Monday.
By Lim Jae-seong (forestjs@heraldcorp.com)
