Gangnam-daero becomes a battleground for premium ice cream brands

"Milk makes Real Ice Cream."

A giant billboard bearing that slogan has appeared in the heart of Gangnam-daero in Seoul. It belongs to Benson, a premium ice cream brand operated by Better Scoop Creamery, a subsidiary of Hanwha Galleria. The sign also directs passersby to the Benson Gangnam Station store roughly 200 meters away. The tagline is widely read as a reference to the brand's use of domestic Jersey cow milk, which carries a higher fat content than standard raw milk.

The building next to the billboard happens to house a Baskin-Robbins outlet. Baskin-Robbins, with roughly 1,740 stores nationwide, holds the top spot in South Korea's premium ice cream market and is one of Benson's main rivals. Across the street, construction is underway on a new Paul Bassett store. Paul Bassett, run by Maeil Dairy affiliate M's Seed, has built a premium ice cream image around ingredients from the Sang Ha Farm brand. The new outlet, set to open in early July, will be the fourth Paul Bassett store along Gangnam-daero.

July will also bring the Korean debut of Van Leeuwen, a well-known American premium ice cream brand, with its first store opening near Gangnam Station. Founded in 2008 as an ice cream truck in Brooklyn, New York, Van Leeuwen now operates more than 100 locations across the United States and has raised its profile through collaborations with pop stars including Sabrina Carpenter and Ed Sheeran.

Van Leeuwen is entering South Korea through a master franchise agreement with Twosome Place, with plans to open up to three stores in prime Seoul districts including Gangnam. Among established players, a single-cup price runs 3,900 won at Baskin-Robbins, 4,300 won at Paul Bassett and 5,300 won at Benson. Van Leeuwen's prices are expected to land even higher, given the current exchange rate and a recipe that uses more than twice the egg yolks of a standard ice cream.

The clustering of premium ice cream brands along Gangnam-daero reflects a broader trend in the food and beverage industry. Chinese milk tea chain Chagee opened a flagship store on the strip in April, and American Mexican food chain Chipotle is preparing to open its first South Korea location there as well. "Gangnam-daero stores function as a kind of billboard in their own right, drawing foot traffic from everyone — teenagers, office workers and foreign visitors alike," an industry official said.

Not every premium ice cream venture has thrived, however. Market leader Baskin-Robbins saw its first-quarter operating profit more than double year on year, driven by strong sales of its new Dubai-inspired product line. But Lotte Wellfood's Natuur brand fully withdrew from offline directly operated stores this year, and Cold Stone Creamery, once known for its "iron plate" rolled ice cream, closed its last Korean store in 2022.