CreatripTeam

Shinsegae Food is refocusing its restaurant business by phasing out underperforming brands and expanding its 'No Brand Burger' franchise (a fast-food chain by Shinsegae Food). The company is concentrating on profitable 'distribution services' such as supplying Emart, a major retail brand, with groceries and providing Starbucks with bakery and ready-to-eat meals. CEO Kang Seung-hyeop is driving these changes as part of an effort to reduce high debt levels. With four restaurant brands currently operated by Shinsegae Food—No Brand Burger, Oslo (premium ice cream), Vecchia & Nuovo (Italian café and bakery), and Devil's Door (brewery and pub)—speculations are that Oslo might close next. The company has already shut down 'No Brand Pizza' and announced the end of 'Smoothie King' operations.