South Korean food major CJ Foods has entered the Indian restaurant market with its global Bibigo brand through an exclusive strategic partnership with Korean food-service operator GTGO. The partnership marks Bibigo’s entry into India through the quick-service restaurant (QSR) format.
The first Bibigo Bapsang outlet opened in Bengaluru last weekend, with two more outlets planned in the city by the end of 2026. GTGO plans to invest about Rs. 1 crore per outlet for the initial three stores and will assess their performance before deciding on the next phase of expansion.
“We have been preparing this project for one year now, and we just opened last weekend. It’s our fourth brand called Bibigo Bapsang,” said Jae Won (Jay) Lim, Founder and CEO, GTGO.
Bibigo Bapsang will offer Korean dishes including rice bowls, bibimbap and Korean fried chicken. The concept will initially focus on smaller QSR formats, with the possibility of expanding into larger restaurant formats.
The launch expands GTGO’s portfolio as the company seeks to build a broader Korean food platform in India. GTGO currently operates about 60 outlets across three brands — GOPIZZA, Gochujang and Dalkomi — including around 45 GOPIZZA stores, 10 Gochujang outlets and five Dalkomi stores.
The company generated nearly Rs. 75 crore in revenue in the last financial year and is targeting Rs. 100 crore in calendar 2026. GTGO said its focus has been on profitability and unit economics rather than simply increasing its store count.
“We were not chasing the number of outlets; we were chasing the P&L and EBITDA,” said Mahesh Reddy, Co-Founder and CEO, GTGO. According to the company, its outlets are currently operating at around 20% profitability.
GTGO plans to add about 15 outlets by December and increase its network to 100 outlets by June 2027. The company currently operates company-owned stores in India, with store-level profitability across its network. It expects the return on investment for an outlet within about 12 months.
Store formats range from compact 100 sq ft airport outlets to 500-600 sq ft Korean food outlets, with typical store-level capital expenditure of Rs 30-40 lakh. According to the company, most outlets can be established for Rs 1 crore or less and opened within about 45 days.
GTGO is also preparing to raise Rs. 100-250 crore, of which it expects to deploy 50-70% in India over the next 12-18 months. This could translate into an additional investment of about Rs. 50-175 crore in the country.
“India plays the most important role in our GTGO global portfolio. We plan to invest more in India,” Lim said.
GTGO has invested more than Rs. 100 crore in India so far and is targeting an initial public offering in about three years. The company said its performance in India will be an important factor in building valuation ahead of the proposed listing.
Globally, GTGO operates in 10 countries, with Singapore, India and South Korea contributing about 90% of its revenue. In India, the company currently operates in Bengaluru, Hyderabad, Chennai and Anantapur, and plans to enter Mumbai and Delhi-NCR before expanding into tier-II and tier-III markets.
Rather than opening stores individually, GTGO plans to establish clusters of 10-15 outlets in each new city, supported by central kitchens.
The Bibigo Bapsang partnership could also pave the way for a wider expansion of CJ Foods in India. CJ Foods is one of GTGO’s major investors, alongside CJ Investment, GS Ventures, DSC Investment and Capstone Partners.
According to Lim, the restaurant format is intended to build awareness for Bibigo before the company potentially expands its packaged-food presence in India. The partnership also reflects growing interest among Korean food companies and investors in the Indian market.