In the midst of high inflation and an economic downturn, 'Ashley Queens,' which has established a unique brand position as a '20,000 won buffet,' is accelerating its store expansion. Although the number of Ashley stores shrank to 59 during the COVID-19 pandemic, the brand is aiming to expand to 150 stores this year by re-establishing its presence in the market through optimizing store efficiency and brand restructuring.
According to the relevant industry on the 2nd, Ashley Queens' operator, E-Land Eats, opened the 'Ashley Queens Guui East Pole Branch' on the 30th of last month in the East Pole complex facility in Jayang-dong, Gwangjin-gu, Seoul. This location, with a total area of 1,214 square meters (approximately 367 pyeong) and seating for about 340 people, is the largest Ashley Queens store to date. With this new opening, the total number of Ashley Queens stores nationwide has increased to 112.
The Ashley buffet brand debuted in 2003 and became immensely popular. By 2014, the number of stores had increased to 155. However, the restaurant industry was severely impacted during the COVID-19 pandemic, leading to the closure of many outlets, and by 2022, the number had declined to 59.
Facing a crisis, E-Land Eats launched a brand restructuring in 2021. The brand, which had been divided into Ashley Classic, Ashley W, Ashley W+, and Ashley Queens based on price range, was consolidated into the most premium line, Ashley Queens, to streamline operations.
Additionally, E-Land Group established 'E-Land Farm & Food' in 2023 to consolidate its food sourcing capabilities within the group. Previously, various divisions, including distribution, dining, and hotels, had separately sourced ingredients as needed. However, E-Land Farm & Food has adopted a collective purchasing method for raw materials, supplying them to each affiliate within the group. This has allowed Ashley Queens to reduce its materials and supplies procurement expenses and increase price competitiveness through economies of scale.
Currently, the prices for using Ashley Queens (based on middle school students to adults) are set at 19,900 won for lunch on weekdays, 25,900 won for dinner on weekdays, and 27,900 won for weekends and holidays. An industry insider noted, "Amid rapidly rising dining costs, buffet-style family restaurants like Ashley Queens that offer everything from meals to coffee and desserts are receiving evaluations of being cost-effective."
Ashley Queens is expanding its size by opening dozens of new stores each year. This year, it has opened branches in Yangju (January), Magok in Seoul (February), Ain Hospital in Incheon (March), and Guui East Pole in Seoul (May), with plans to increase the number of stores to 150 by the end of the year.
With the popularity of Ashley Queens, 'Deli by Ashley,' which sells representative buffet menu items in ready-to-cook food form at Kim's Club, is also experiencing rapid growth. First opened in April of last year at Kim's Club in Gangseo, Seoul, Deli by Ashley offers all menus at a fixed price of 3,990 won and is prepared by Ashley chefs in dedicated cooking spaces on the same day before being sold.
Deli by Ashley surpassed cumulative sales of 6 million units within 1 year and 2 months of its launch, with an average of about 30,000 products sold daily, successfully establishing itself in the market. E-Land Eats plans to expand the number of stores to 20 by the end of this year in major regions across the country, including Cheongju, Incheon, and Dong Suwon.
Buoyed by the resurgence of Ashley Queens, E-Land Eats, the operator of the buffet, continues to see soaring performance. The company recorded sales of 470.6 billion won and an operating profit of 31.9 billion won last year, marking increases of 32.4% and 79.8%, respectively, from the previous year. The company aims for sales of 700 billion won this year.
A representative from E-Land Eats stated, "We are focusing on opening locations in new cities where dining demand is high and in shopping malls and department stores with strong appeal. We also plan to enhance customer satisfaction by refurbishing older stores and, along with store expansion this year, we are concentrating on developing products and services to provide enjoyable dining experiences for our customers."