‘Homemade burgers that sell breakfast’… Downtowner pushing for sale, advances into office commercial district

On the 18th, the first basement floor of the Seoul Finance Center ( SFC ) in Jung-gu, Seoul. Downtowner, a handmade burger brand that started in Sinsa-dong, Gangnam-gu, Seoul and was located in commercial districts mainly visited by young people such as Hannam-dong, Jae-dong, and Donggyo-dong, opened its seventh store and was busy preparing to welcome customers.

The store, which is 76 pyeong (approximately 251㎡) and has 78 seats, has an interior that mainly uses blue, the symbol of downtown. The interior was created in collaboration with graphic artist Graplex, and on one side, lighting in the shape of a traditional lantern was installed to make use of the characteristics of the Gwanghwamun store.

There are 17 tables for two in the store, and a long table seat for 12 people is prepared in the center, so group customers can use it.

The Gwanghwamun branch, the first office store in the downtown area, sells breakfast menus that are not sold at other branches. GFFG , a downtown operator , operates 11 food service brands, and has entered the breakfast market as a handmade burger brand, not a Korean or Japanese food brand.

There are three types of breakfast menus sold at the Gwanghwamun branch: ham and cheese press, cheese press, and egg mayo burger, which are sold from 8:00 am to 11:00 am. Similar to McDonald’s breakfast menu ‘Mc Morning’, the price is 3,500 won for cheese press and 4,500 won for ham and cheese press and egg mayo burger. Compared to the price of the existing burger menu, which ranges from 8,300 won to 12,300 won, the breakfast menu is reasonably priced.

The coffee and chicken platter that can accompany the breakfast menu are also exclusive to the Gwanghwamun branch, which are not sold in other stores. Downtowner plans to develop and introduce a customized menu so that customers can also find it as a dinner place as the Gwanghwamun branch is located in the office commercial district.

A downtown official explained, “The Gwanghwamun store is located in a shopping district in the office commercial district, and we have been operating it taking

In the industry, it is analyzed that Downtowner, whose sale was virtually suspended earlier this year, is expanding its business to resume the sale안전놀이터. It is to try to sell again after opening new stores and opening new businesses to increase sales and improve profitability.

Mom’s Touch, which had been pushing for a sale earlier, also piloted a breakfast menu called ‘Moms Morning’ at a directly managed store near Yeoksam Station, an office commercial district. Mom’s Touch said that 5% of new sales occurred during the pilot period.

Downtowner has been growing rapidly since its launch in 2016, but recorded an operating loss last year as growth slowed. In 2021, it recorded sales of 10.9 billion won and operating profit of 800 million won, up 418% from the previous year, but turned into a deficit last year with an operating loss of 100 million won. Sales increased by 42% year-on-year to KRW 15.6 billion.

In 2021, GFFG also recorded sales of 39.9 billion won, up 288% from the previous year, and operating profit of 9.7 billion won, up 266% from the previous year.

Early this year, GFFG made individual contact with the original buyer to sell 100% of Downtowner’s shares, including management rights, but there has been no news yet. At the time of the sale, the asking price for GFFG was known to be W50bn.

advantage of the fact that there is a large floating population from early hours.”

An official from the food industry said, “With interest rates rising and investment funds frozen, if we don’t want to lower prices enough to attract buyers, we need to create an opportunity for explosive growth.” After that, profits will increase accordingly, so if the new business is successful, it can be positive for the sale.”

Another industry insider also said, “The mergers and acquisitions market is a market with an investor advantage because there are few investors.” Isn’t it?” he said.

An official from Downtowner said, “The Gwanghwamun branch is the first store that Downtowner opened in an office commercial district. Regarding the sale, he said, “We were promoting the sale in the process of listing, and it has not been stopped yet, but we are looking for various partners,” and “nothing has been decided yet.”






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