Despite a decline in revenue, Belgian Le Pain Quotidien managed to quintuple its profits in 2024. The Belgian bakery and restaurant chain is now seeking to achieve further expansion around the world through franchising.
Quality despite revenue decline
Le Pain Quotidien ended its fiscal year 2024 with a revenue decrease of 5 % to 79.4 million euros. This decline can partly be explained by the fact that some loss-making stores in the United Kingdom were still temporarily included last year. However, net profit rose from 0.75 million euros in 2023 to 3.73 million euros last year, thanks to a stricter focus on costs and a lower investment pressure thanks to the franchising model, CEO Annick Van Overstraeten points out. Of the 216 locations worldwide, only about thirty are still company-owned, mainly in Belgium.
