Vaj targets two new shops and HUF 3 billion in turnover by 2027

Vaj plans to end 2027 with two new shops and annual revenue of around HUF 3 billion, according to a report published on EuropeSays on 28 September 2026. The Hungarian bakery’s growth plans extend beyond conventional shops: smaller outlets and retail points in boutique hotels are also under consideration. For those interested in Hungary’s franchise market, the key question is how expansion might be combined with strict control over the brand.

The 2027 figures are targets, not achieved results

Citing publicly available company information, the report states that Vajbirodalom Kft. generated annual revenue of around HUF 1.9 billion in both 2024 and 2025. The company has recorded an operating profit since 2021. This trading history provides the backdrop to its plans for growth.

By the end of 2027, the owners expect to have two new shops, revenue growth of 50% and turnover of approximately HUF 3 billion. Across production and retail combined, they aim to achieve profitability of 15–20%. The article presents these figures as targets, not as commitments already fulfilled or results from a completed financial year.

The distinction matters: historical revenue of nearly HUF 2 billion and a target of HUF 3 billion are different types of information. The available material does not explain in detail how the profitability target is calculated, so it would not be appropriate to derive a specific profit figure from it. Nor does the research summary provide exact addresses or opening dates for the new shops.

The news is therefore about the growth planned for the following year, rather than the imminent opening of two shops at confirmed locations.

Smaller shops and hotel outlets are also under consideration

The report identifies smaller outlets as one possible route for expansion. Ferihegy, the area associated with Budapest Airport, and Lake Balaton were also mentioned, although the source explicitly states that options are still being assessed and no final decision has been made. These should therefore be treated as possible locations, not announced investments.

A separate idea involves a presence in boutique hotels, where Vaj would sell breakfast and baked goods through retail outlets. The wording suggests that this would go beyond simply supplying hotels. However, the material provided names no hotel partner, contract or launch date.

Supermarket distribution, by contrast, has been ruled out. According to the report, the owners believe that putting Vaj products on grocery shop shelves would turn the brand into a mass-market offering. Not every available sales channel is therefore considered desirable as part of its expansion.

A smaller shop, a hotel retail point and supermarket distribution would each present the brand to customers differently. The plans outlined suggest that brand positioning is a factor in these choices alongside the growth target. There is, however, no information yet on which format the two planned shops would adopt.

Production now has a separate company

Alongside the growth plans, the source reports an organisational change. New companies were established in June 2026, including Vaj Gyár Kft., set up to produce baked goods. Vajbirodalom Holding Kft. owns this company and the separate companies operating individual outlets.

Organising production and shops into separate companies is useful background for understanding the expansion. It does not, in itself, demonstrate additional production capacity, the opening of a new facility or any specific increase in output. The available research provides no such figures.

This also matters because the 15–20% profitability target applies to production and retail combined. It cannot automatically be applied to a single bakery, a new retail point or a future partner’s shop. A network-wide target and the financial performance of an individual outlet are not the same thing.

What does this mean for the franchise community?

Franchising is one possible route for growth, subject to strict control. According to the report, the owners do not envisage operating abroad within three years, but a franchise model could be launched within that timeframe. They would select prospective partners primarily on the basis of the individual rather than the location.

This places the emphasis on a partner’s personal suitability, but does not yet amount to a publicly announced franchise recruitment programme. The research material contains no details of entry fees, investment requirements, royalties, territorial terms or an application timetable. Nor does the source state that the two planned shops would be run by franchise partners.

Those following Hungary’s franchise market should therefore monitor confirmed shop openings separately from any future partner programme. The HUF 3 billion revenue target reflects Vaj’s ambition for the business as a whole, not a promised return for a prospective franchisee.

Practical takeaway: entrepreneurs interested in Vaj will need to look beyond the growth targets and verify the locations, operating formats and partnership terms actually announced. The plans currently available are no substitute for outlet-level financial and contractual information.