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Shake Shack (NYSE: SHAK) announces plans to expand in Malaysia by opening 10 new locations by 2031. This initiative begins with the first Shack slated for opening in 2023, marking Shake Shack's sixth country entry in Southeast Asia. Partnering with SPC Group, this agreement solidifies a total of 45 Shacks across Korea, Singapore, and Malaysia by 2031. The companies aim to leverage their successful collaboration to enhance their presence in the region and meet growing consumer demand.
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Expansion into Malaysia with plans for 10 Shacks by 2031 enhances market presence.
Partnership with SPC Group strengthens operational capacity and regional brand recognition.
Successful history of collaboration with SPC Group, having established 28 locations in Korea and Singapore.
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Shake Shack Plans Malaysia Expansion with 2023 Market Entry
NEW YORK--(BUSINESS WIRE)--
We’re shaking it up in Malaysia! Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) and licensee SPC Group expand their partnership, announcing their plan to open 10 Shacks in Malaysia by 2031, starting with the first Shack in 2023.
“We continue to be blown away by the enthusiasm of our fans throughout the world and are thrilled to announce our further development in Southeast Asia,” says Michael Kark, Chief Global Licensing Officer of Shake Shack. “This represents our sixth country in Asia, and together with the SPC Group, we expect to have more than 45 Shake Shacks across Korea, Singapore, and Malaysia by 2031.”
The new agreement increases the total number of contracted Shake Shacks with SPC Group to 45 by 2031. SPC Group is a leading global food company based in South Korea with 30 brands and over 7,000 stores worldwide.
"SPC Group and Shake Shack have established a successful long-time partnership, bringing 28 Shacks to Korea and Singapore over the past five years,” says HeeSoo Hur, Vice President of SPC Group Korea, who has worked with Shake Shack since 2016. “We are eager to deepen the relationship, bringing the brand mission to Stand for Something Good to Malaysia.”
About Shake Shack
Shake Shack is a modern day “roadside” burger stand known for its 100% all-natural Angus beef burgers, chicken sandwiches and flat-top Vienna beef dogs (no hormones or antibiotics - ever), spun-fresh frozen custard, crinkle cut fries, craft beer and wine and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack’s mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the company has expanded to more than 350 locations in 30 U.S. States and the District of Columbia, including more than 120 international locations including London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.
SPC Group is a Korea-based global food and beverage company, with 75 years of history and experience in the Korean market with companies including SPC SAMLIP Co., LTD., Paris Croissant Co., LTD and BR Korea Co., LTD (Baskin Robbins, Dunkin’) and 35 reputable brands across 7,000 stores. SPC Group owns and operates brands such as Paris Baguette, Paris Croissant, Passion 5, Coffee@Works, LaGrillia, Queens Park, Vera, StrEAT, Bizeun, and Glücksschwein covering the bakery, dessert and restaurant business. SPC Group has successfully introduced global brand, Shake Shack to the Singapore market. The SPC Group is a loved global brand that pursues health and happiness through continuous research, development and creative marketing.
