London: SPC Group, a major South Korean food and beverage company, said its bakery brand Paris Baguette has opened its 700th overseas outlet in London as it accelerates its global expansion drive. The newly opened store is the brand's fourth outlet in London and marks its 700th overseas branch. Of the four London outlets, two are franchise-operated and two are directly managed by the company, SPC said in a press release.

According to Yonhap News Agency, the group said it plans to open a fifth London outlet -- its third franchise store in the city -- later this month. Since 2004, SPC has expanded the Paris Baguette brand to 15 countries. The number of its overseas outlets recently surpassed 700, while domestic branches total about 3,400.

The group currently operates bakery plants in China and Malaysia, and in September began construction of its third overseas bakery plant in the United States.