Bliss, French gourmet food company Fauchon’s Korean brand, said Tuesday it is withdrawing from the bakery business.

“The decision came in order to comply with the government’s shared growth initiative and the public opinion to protect smaller vendors,” a Bliss official said.

The move is the latest in a series of business withdrawals amid criticisms that bakery or coffeehouse chains run by chaebol offspring are fast overtaking the sales of smaller, individually-owned stores.

Fauchon had been operated by a smaller company for 15 years but the operating license was transferred to Chang Seon-yoon, granddaughter of Lotte Group chairman Shin Kyuk-ho, in May.

The company said it has already reduced the number of stores from 12 to seven and is discussing with the head office of Fauchon to end the business contract.

(jylee@heraldcorp.com)