Belgian bakery chain Le Pain Quotidien is preparing its conquest of Brazil: it wants to grow from four to fifteen stores over the next few years, thanks to two to three store openings per year.
Le Pain Quotidien will use Belgian private capital to fund the expansion. It has received funding because it can present good Brazilian results, despite the local economy struggling.
"A huge city like São Paulo knows how to bounce back from a recession. We can present growth, even though the general economic situation in Brazil is deteriorating", Harold de Fierlant (CEO of Le Pain Quotidien's Brazilian branch) told De Standaard.
Le Pain Quotidien currently has 225 stores in 17 countries, like Canada, the United States and Germany.