Meet the accountant behind Yogurtland who is bringing California’s frozen yoghurt craze to Australia

Nassim Khadem Reporter

Meet the accountant behind Yogurtland who is bringing California’s frozen yoghurt craze to Australia

Published 25 November 2013 09:42, Updated 25 November 2013 11:58


Yogurtland Australia chief executive Paul Siderovski: “The Australian market’s ripe to adopt the US frozen yoghurt craze.”

It was only a matter of time before Australians jumped on board with California’s frozen yoghurt food craze. Yogurtland, the frozen yoghurt company that started in Fullerton, California in 2006, came to Australia in January. The international franchise chain of frozen yoghurt stores now has more than 200 locations across Australia, the US, Guam, Mexico and Venezuela. The company’s target is to expand beyond 550 stores by 2015 and 1000 stores by 2017.Australian chief executive Paul Siderovski, who previously led one ofAustralia’s Top 100 accounting firms, SiDCOR, says Yogurtland served more than 49 million cups of frozen yogurt around the world last year.

Siderovski, who discovered the frozen dessert company while holidaying in Hawaii with his family, says they have opened 11 stores in Sydney in the past few months, and aim to open a total of 50 by the end of next year.

“The Australian market’s ripe to adopt the US frozen yoghurt craze,” he says.

A plethora of frozen yoghurt shops are now opening across Australia, but he says premium, high-quality yoghurt sets the company apart from competitors.

Like most others, Yogurtland is based on the self-service concept – customers can choose their yoghurt cup size and flavours, and then add toppings from an extensive collection including fresh fruits, chocolate bits, nuts and lollies.

The company is targeting global sales revenue of $40 million by 2015. In the US, where the company is rapidly expanding, Yogurtland has one of the highest sales volumes in the industry, estimated to reap about $750,000 ($818,000) to $800,000 in average net sales per store.

In July 2011, Yogurtland partnered with Sanrio, the company that created Hello Kitty, to sell merchandise and co-brand. Hello Kitty characters are present on Yogurtland collectable cups and biodegradable spoons.

According to an IBISWorld report released in September, frozen yoghurt and yoghurt smoothie products increased as a proportion of the ice-cream industry’s $513 million revenue from 5 per cent in 2008-09 to 7 per cent in 2013-14.

An increase in the number of frozen yoghurt stores has also contributed to the growth. This upward trend is forecast to continue through to 2018-19, when it is projected to reach 9 per cent of industry revenue. IBISWorld estimates that in the five years through 2018-19, industry revenue is forecast to rise at an annualised 2.3 per cent to $575.4 million.

About bambooinnovator
Bamboo Innovator Institute is set up to establish the thought leadership of resilient value creators around the world. KB Kee is the Managing Editor of the Moat Report Asia (, a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia. The Moat Report is developed together with our European partners The Manual of Ideas (, the idea-oriented acclaimed monthly research publication for institutional and private investors. The MRA’s paid-subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities and savvy private individual investors. KB has presented his thought leadership as a keynote speaker in global investing conferences. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, macroeconomic and industry trends in Singapore, HK and China. KB has been rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm since 2002. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Mirae Asset Global Investments, Korea’s largest mutual fund company. He holds a Masters in Finance and degrees in Accountancy and Business Management, summa cum laude, from the Singapore Management University (SMU). He had published cutting-edge empirical research in the Special Issue of Istanbul Stock Exchange 25th Year Anniversary of the Boğaziçi Journal, Review of Social and Economic Studies, as well as wrote articles about value investing and corporate governance in the media. KB is currently a faculty member at the School of Accountancy, Singapore Management University, where he teaches accounting courses that include Management Accounting and Accounting Fraud in Asia.

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