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Category: Food

Retail News Asia is committed to providing both local and global retailers with the latest Food and Food & Beverage news throughout the Asian market. This on a daily base.

  • Treasury Wine Estates boosts profit despite being shut out of China

    Treasury Wine Estates boosts profit despite being shut out of China

    Treasury Wine Estates Ltd posted a 5.3% rise in annual profit on Thursday, as strong U.S. sales and price hikes more than offset a hit from hefty Chinese tariffs on Australian wine.

    The world’s biggest standalone winemaker has been re-directing supply of its prized Penfolds label wines to the United States, Europe and domestically since China imposed an anti-dumping duty on some Australian wines in late 2020.

    The company, which also owns Wolf Blass and Wynns brands among others, said net sales revenue at its Americas unit grew 2.5%, benefiting from efforts to expand its presence in the market, including collaboration with rapper Snoop Dogg.

    Demand for Penfolds label wines, the company’s most premium offering, stayed strong despite soaring inflation in the United States and Europe. While total net sales revenue for the segment fell 9.1%, sales in markets outside China more than doubled.

    The winemaker said it was raising prices across divisions to offset the impact of higher input costs and that it expected to improve its margins further in 2023.

    Treasury Wine’s global supply chain optimisation programme, which was rolled out in 2021, helped the firm save A$90 million ($62.47 million), more than an earlier estimate of A$75 million, and offset the impact from higher input costs.

    “We expect TWE will deliver strong earnings growth in FY23, reflecting a COVID recovery in its higher margin channels,” analysts at Morgans said.

    Treasury posted a profit attributable of A$263.2 million for the year ended June 30, higher than A$250.0 million reported a year ago but below an estimate of A$282 million from Morgan Stanley. Overall sales revenue fell 3.6%.

    Shares of Treasury Wine fell about 1.5% in early trading, while the broader marker was down 0.5%.

    The company said its long-term financial objective was still to deliver sustainable top-line growth, high single-digit average earnings growth, and a group operating earnings margin of more than 25%.

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  • Vietnam third largest market for bubble tea in Southeast Asia

    Vietnam third largest market for bubble tea in Southeast Asia

    Turnover of the Vietnamese bubble tea market hit $362 million in 2021, ranking third among six major Southeast Asian markets, according to a recent study.

    The region’s largest market was Indonesia with an estimated $1.6 billion annual turnover. Thailand came in second with $749 million, according to a study by Singapore-headquartered venture outfit Momentum Works and digital payments solution firm Qlub.

    Turnover in the Southeast Asian market last year accumulated to $3.66 billion, it added.

    As of April 2022, Vietnam had 439 bubble tea shops, with over half located in Ho Chi Minh City, a survey by German data portal Statista and Vietnamese market researcher Q&Me showed.

    Bobapop, a local brand, was the leader in terms of locations with 89 stores.

    It was followed by three foreign players, Tiger Sugar (48 stores), The Alley (47) and Gong Cha (42).

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  • Crab exports skyrocket

    Crab exports skyrocket

    Vietnam crab exports rose 41% to $111 million between Jan. 1 and July 15 this year, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP).

    The U.S, China, Japan and France were the four major markets accounting for 92% of the value.

    China was the fastest growing market as exports surged 74% year-on-year to $37 million, followed by France (up 60%) and Japan (51%).

    Exports to the U.S. grew 27%, though the country was Vietnam’s top market with a value of $38 million.

    Crab prices have surged amid domestic shortage and rising demand from major markets in the U.S., China and Japan.

    Hoang, a crab seller, said prices at-the-farm have risen 20% since last month to VND400,000-600,000 ($17-26) a kilogram but there was hardly enough for him to sell.

    A VnExpress survey showed crab prices in HCMC have risen to the highest in the year-to-date at VND900,000 a kilogram.

    VASEP expects crab exports to thrive in the second half this year thanks to rising demand driven by holidays like Christmas and Lunar New Year.

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  • % Arabica makes its Taiwan debut

    % Arabica makes its Taiwan debut

    Japanese boutique coffee group % Arabica has made its debut in Taiwan with a store in Taipei. The Elephant Mountain store is the second % Arabica outlet to open this month following the launch of store in the lobby of the new United Overseas Bank head office in Bangkok, the group’s fourth in the Thai capital.
    The boutique café group now operates 120 stores across 18 countries, including 61 in its largest market, China, and four in its native Japan.
    According to % Arabica’s website, the group will soon open stores in Vietnam, South Korea, Canada, Mexico, Spain and the Philippines.
    In July 2022 Lucky Ace International Ltd., which operates the group in China, was reported as seeking to raise $300m to support its expansion plans in the country.
    World Coffee Portal estimates the Taiwanese branded coffee shop market exceeds 2,500 outlets and forecasts it will reach 3,200 outlets by 2025. Louisa Coffee is the coffee-focused segment leader with approximately 520 outlets.
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  • Yum China applies to add primary listing in Hong Kong

    Yum China applies to add primary listing in Hong Kong

    YUM China Holdings said on Monday (Aug 15) it has applied for a primary listing in Hong Kong, as the company looks to circumvent a risk of delisting from the New York Stock Exchange amid tight regulatory scrutiny on Chinese companies.

    The move comes on the heels of an audit dispute between China and the United States, which is threatening to kick out hundreds of Chinese companies listed in New York.

    E-commerce giant Alibaba Group Holdings had also said last month it would convert its Hong Kong secondary listing into a dual primary listing.

    Five US-listed Chinese state-owned firms, including oil giant Sinopec, last week said they would voluntarily delist from the NYSE, after the Securities and Exchange Commission flagged more than 270 companies, including Yum China, for failing to meet US auditing standards.

    Yum China, which runs the KFC and Taco Bell chains in China, said the conversion from its current secondary listing status to primary listing is expected to be completed in October, subject to shareholder approval.

    The company will become dual primary listed on the NYSE and the Hong Kong Stock Exchange, it added.

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  • Pronto launches ‘Stranger Things’ cafe

    Pronto launches ‘Stranger Things’ cafe

    Stranger Things may not be as popular as Spy X Family in Japan, but it has enough of a following to deserve a cafe! From July 6 to September 9, Japanese cafe Pronto’s Shibuya Fukuras branch will get a Stranger Things makeover called “Stranger Pronto”. The collaboration coincides with the recent release of the later half of Season 4 of the world-famous Netflix series. The cafe will be decorated in a Stranger Things theme and include a completely Stranger Things-themed menu, photo spots, artwork, and more.

    Menu items are based on characters from Stranger Things Seasons 1 through 4, including main character Eleven’s first burger (and of course, her favorite waffles), a roast beef pasta plated to look like the infamous Demogorgon monster, and Nancy’s Halloween Party mocktail. There’s even a cream soda made to look like the Upside Down (not pictured above but on the full menu).

    Some art they’ll have on display includes trick art of a Demogorgon coming out of a door, the famous Christmas light wall at the Byers’ house, the fiery road to Hawkins (possible spoiler), and the Surfer Boy Pizza van.

    There are markedly more references to Season 4 than the earlier seasons–likely due to its recent release–so it may be better to pay a visit after you’ve watched it all. The Shibuya Fukuras branch is open year-round, but if you want to visit the Upside Down, you’ll need to stop by between July 6 and September 9. We promise you’ll make it out alive!

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  • Chobani Australia unveils oat yoghurt range

    Chobani Australia unveils oat yoghurt range

    Chobani Australia has extended its non-dairy offering, adding a range of oat yoghurts to its suite of products.

    According to a company statement, Chobani Australia recognised the growing ‘flexitarian’ market, and was motivated to provide these consumers with a greater variety of plant-based food options.

    The company also saw this as an opportunity to diversify the dairy-free yoghurt category, “currently dominated by high fat, strong tasting coconut yoghurt options,” the statement reads.

    The new oat yoghurt range follows Chobani’s entry into the dairy alternative market in 2021, when it launched its oat milk.

    There are two sizes (150g and 500g) and five flavours in the new range: Strawberry, Mango, Blueberry, Vanilla and Natural.

    The range is available in all Woolworths and Coles outlets, and soon to be in independent retailers.

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  • Popeyes appoints partner for China rollout

    Popeyes appoints partner for China rollout

    Popeyes Louisiana Kitchen is making a move on KFC’s turf. The Miami-based chicken chain on Wednesday announced an agreement with Cartesian Capital Group to develop restaurants in China in the coming years. In the process, it will take Popeyes into a country dominated by its longtime rival, KFC.

    Popeyes could move quickly if Cartesian’s recent track record is any indication. The firm started developing Tim Hortons locations in 2019. The Canadian coffee and doughnut brand already has 450 locations in the country. Tim Hortons, like Popeyes, is owned by the Toronto-based Restaurant Brands International.

    “We are excited to build on our long-standing and successful relationship with RBI, spanning over a decade and most recently including our rapid development of more than 450 Tim Hortons cafes across China,” Cartesian Managing Partner Peter Yu said in a statement.

    China is a gold mine for U.S. brands eager for international expansion. It is the world’s second-largest economy and is growing rapidly. Numerous restaurant chains are pushing aggressive expansion. KFC, McDonald’s and Starbucks, among many others, are aggressively adding units and companies like Papa John’s and Domino’s are pushing growth there.

    But the country has had its challenges of late, driven by its “Zero COVID” strategy in which large cities are shut down for weeks or months at a time, sending sales plummeting. Same-store sales at Yum China, for instance, decreased 16% in the second quarter.

    As for Popeyes, it also goes into a market dominated by KFC. The chain, which helped open China decades ago, is as popular there as McDonald’s is in the U.S. It operates 8,500 locations in the country and is on pace to add another 800 this year alone.

    Still, it’s an important market for Popeyes as it works to build its international business. RBI’s business plan is predicated in part on aggressive international development, much as it did with Burger King starting in 2010.

    Popeyes operates only about 3,800 global locations, with about 1,000 of them outside the U.S. But that international unit count is up about 50% over the past five years. And since last year, Popeyes has announced deals to enter South Korea, France, Romania, the U.K. and India, with expansion plans for Mexico and Saudi Arabia.

  • Highlands Coffee posts first loss in 8 years

    Highlands Coffee posts first loss in 8 years

    Highlands Coffee chain lost VND19 billion ($812,069) last year, its first loss since 2014, VnExpress has learned.

    Its sales plunged by nearly 20 percent to VND1.7 trillion, which still made it the largest coffee chain in Vietnam, its earnings report, recently acquired by VnExpress, shows.

    It is not listed on the stock market, and typically such companies do not make public their financial reports.

    Highlands faced many issues with landlords who accused it of delaying rent payments of over VND1 billion for up to six months.

    It had admitted at the time, when social distancing restrictions were still in place, that it was facing financial difficulties.

    Highlands Coffee was established in 1999 to sell packaged coffee. It started opening cafes in 2002, and now has 522 of them, according to its website.

    It was acquired by the Philippines’ Jollibee Foods in 2012.

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  • Coca-Cola to launch US-first paperboard packaging for multipack cans

    Coca-Cola to launch US-first paperboard packaging for multipack cans

    Liberty, the local Coca-Cola bottler, has partnered with fiber-based consumer packaging supplier Graphic Packing International to produce multipacks in the paperboard packaging format called KeelClip, and use multipack carton application equipment in doing so. It will soon deliver this pack format to stores across the Philadelphia market.

    “Addressing plastic waste requires collective and collaborative thinking and action,” says Kurt Ritter, General Manager and Vice President of Sustainability, Coca-Cola North America. “Liberty’s ongoing commitment to sustainability is evident with the implementation of KeelClip, which is another demonstration of our system’s dedication to delivering our World Without Waste goals.”

    KeelClip equipment is a sustainable packaging system for cans that has already been successfully implemented and distributed through other local Coca-Cola bottlers in Europe. It is estimated by the company that the transition will remove 75,000 lbs of plastic packaging per year from the supply chain for approximately 3.1 million cases across Liberty’s service area, which includes Philadelphia, New Jersey, New York City, and parts of Connecticut and Delaware.

    “Liberty is thrilled to be the first bottler in the United States to implement this innovative packaging system,” Paul Mulligan, co-owner of Liberty Coca-Cola Beverages, says. “We know that the most valuable change to reduce plastic waste occurs when bottlers and packaging producers work together in partnership. We look forward to partnering with Graphic Packaging on sharing this sustainable packaging in our local communities for years to come.”

    Liberty is using the technology to improve sustainability across its entire distribution footprint. The installation of the KeelClip 1600 machinery means the sustainable fiber-based packaging is manufactured at one of Liberty’s production facilities located in New York and is being distributed across its entire footprint.

    Adds Bret Arnone, vice president, commercial operations & beverage packaging at Graphic Packaging. “This technology has seen incredible success wherever it has been used, winning 10 industry awards and becoming the gold standard for can multipacks in over 20 countries. Most importantly, it’s proven to help our commercial partners reduce their reliance on plastics for a more sustainable future.” The KeelClip packaging implementation is the latest effort Liberty is taking to advance its sustainability efforts. Last summer, Liberty became the first local Coca-Cola bottler to produce and distribute bottles made from 100% recycled material in the United States.

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  • Jollibee Foods struggles to make profits in Vietnam with 4 brands

    Jollibee Foods struggles to make profits in Vietnam with 4 brands

    All four brands that Jollibee Foods Corp of the Philippines operates in Vietnam, including coffee chain Highlands Coffee, posted losses last year.

    The corporation, founded by Filipino billionaire Tony Tan Caktiong, established its first company in the country, Jollibee Vietnam, in 2005, as a fast food operator.

    Since then it has branched into other food and beverage brands: Pho 24, Highlands Coffee and Coffee Bean & Tea Leaf Vietnam. But Highlands Coffee is its only profitable brand (except for last year), while all three other chains have been making losses for years

    Jolibee Vietnam planned to have 300 outlets in the country by 2020, but it only has 150 as of now, lower than its competitors KFC and Lotteria.

    It posted a loss of VND43.9 billion (1.83 million) last year.

    Pho 24, which sells the traditional Vietnamese rice noodles soup, is also struggling to make profits nearly 20 years after it was established.

    At one point, it had targeted 1,000 outlets, but only has 22 now, mostly in Ho Chi Minh City. It also has outlets in South Korea, Indonesia and the Philippines.

    It posted a loss of VND89.4 billion last year.

    The Coffee Bean & Tea Leaf is in an even worse situation with just six outlets in HCMC after 14 years in Vietnam. Its prices are 1.5-2 times higher than that of Highlands Coffee and its outlets are mostly located in large malls.

    It has been reporting an annual loss of VND26-29 billion in the last four years.

    Highlands Coffee, meanwhile, has reported profits for seven of the last eight years.

    The chain topped the VND1 trillion revenue mark in 2017 and doubled it in two years to cross VND2 trillion.

    Except for last year when it posted a VND19 billion loss due to Covid-19, Highlands Coffee had posted annual profits of VND55-100 billion in the previous four years.

    The chain now has 525 outlets in Vietnam and the Philippines.

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  • Aldi opens Dumpling Truck, serving meals for less than $1.50

    Aldi opens Dumpling Truck, serving meals for less than $1.50

    Remember when you could get a whole takeaway meal for $1.50? We don’t either, but it sure beats paying $10 for a schooner and $12 for an iceberg lettuce.

    With the cost-of-living soaring, you’d be forgiven for thinking you can’t afford a Friday night out. But just wait until you see the prices at Aldi’s new pop-up dumpling truck.

    Opening for one night only, this Friday 12th August in the Aldi Bankstown Central car park on Chapel Rd, the pop-up dumpling truck will be dishing out servings of six takeaway dumplings for just $1.44.

    When you break down the prices, that’s 25c per prawn gyoza and 23c per chicken dumpling. Which will allow you to feed a family of four from just $5.76.

    The Urban Eats® dumplings include fan fave prawn gyoza and chicken dumplings, a new addition to the supermarket chain’s frozen food range.

    “At a time when consumers are feeling the pinch, it’s rewarding to provide an option for people to still enjoy their Friday night rituals when they shop with us,” said Frozen Food Buying Director, Andrew King.

    “The ALDI Dumpling Truck demonstrates how good food doesn’t have to hurt your pocket. You can dish up quick, delicious and affordable Friday dinners at home for less than $1.50 a serve!”

    The Aldi dumpling truck will be located at Aldi Bankstown Central on Chapel Rd this Friday 12th August from 5pm-7pm, while stocks last. Cards only, no cash accepted. (And before you get any shady ideas, there’s a maximum of 4 serves per person.)

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  • Thailand’s Lotus’s to invest more than US$350 million in expansion plan

    Thailand’s Lotus’s to invest more than US$350 million in expansion plan

    Manufacturer of the legendary speculoos (Biscoff) caramelised sugar biscuit Lotus Bakeries is set to build a new factory in Thailand. The first biscuits are expected to roll off the factory conveyor belt in 2026.

    Speculoos biscuits are already extremely popular in Asia, with company Lotus owning sales offices in China and South Korea, as well as teams in Hong Kong. To bolster growth in the region, Lotus will open a new factory in Thailand to satisfy the needs of the Asian market.

    The Belgian company has been expanding steadily in recent years. Just three years ago, Lotus Bakeries opened a factory in Mebane, in North Carolina, the United States. In South Africa, the group owns a factory for African treat Bear, a type of liquorice candy.

    According to a press release from the company, the Thai factory will be based in the eastern province of Chonburi, not far from the capital Bangkok.

    The factory will sit on the so-called “Eastern Economic Corridor” which is currently receiving massive economic investment. Goods flowing along this corridor, which connects China, Korea, and Malaysia, experience next to no import duties, according to Lotus CEO Jan Boone.

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  • China’s Luckin Plans Store Expansion, Remains Committed to USA Market

    China’s Luckin Plans Store Expansion, Remains Committed to USA Market

    Two years after it was forced to withdraw from the Nasdaq for an accounting fraud, China’s Luckin Coffee believes it has emerged from its “darkest moment”, and said it remains committed to U.S. capital markets as it expands its stores and sales.

    Luckin admitted in 2020 that about $310 million of its sales were fabricated in the previous three quarters, bringing the coffee maker to the brink of collapse after having blazed a trail as a homegrown challenger to U.S. coffee giant Starbucks.

    “That was Luckin’s darkest moment. The company was facing a huge crisis at the time”, David Li, chairman and chief executive of Chinese private equity firm Centurium Capital, told Reuters, referring to the accounting fraud.

    Luckin delisted from Nasdaq following the financial scandal, shocking Wall Street investors. After changes in ownership and top management, as well as paying hundreds of millions of dollars in fines, the company once again is flexing its muscles.

    A turnaround for Luckin would help vindicate the company’s top management and new owners, who have continued to push the chain to expand in China’s highly competitive coffee market.

    Luckin in May reported its first ever quarterly operating profit. On Monday, it reported a 72% jump in net revenue for the June quarter. In comparison, Starbucks said last week its third quarter comparable sales in China fell 44%.

    Centurium, a key early investor of the coffee chain, in January became the firm’s controlling shareholder after leading a consortium to acquire shares that used to be owned by two of Luckin’s founders for more than $400 million.

    Centurium dispatched seven of its professionals to work with Luckin’s management team for months in the aftermath of the fraud and in the following year poured $240 million into the business to finance its restructuring.

    It has also pushed Luckin to rebuild a more transparent and connected database to ensure there are no “data silos”, which Li blamed for the accounting scandal.

    Luckin plans to continue to open new stores, said Luckin’s chief executive Guo Jinyi, even as China’s stringent COVID-19 curbs have forced many catering chains to be more cautious about expansion in the near-term.

    He said Luckin would add more outlets across the country, including in the top-tier cities such as Beijing and Shanghai.

    Luckin, which was founded five years ago, currently has nearly 7,200 shops in China, compared with Starbucks’ 5,761 by early July.

    “We believe the potential of China market remains huge,” Guo said, adding that though Luckin has reached 230 Chinese cities, more than 5,000 of the stores are located in the 50 to 60 major cities.

    Ever after the Nasdaq delisting, Luckin remains tradable via pink sheet, off-exchange trading platform mainly involving penny-stock companies that do not meet the main exchanges’ listing standards.

    On Monday Reinout Hendrik Schakel, who relinquished his chief financial officer role but remains as chief strategy officer, told analysts the company remained committed to the U.S. markets.

    “We don’t have a specific timetable yet,” Guo said of a possible Nasdaq return. “But we will continue to pay attention to and focus on the U.S. capital market … So far, we haven’t considered (re-listing) in other markets.”

    Though Luckin is ahead of Starbucks in store numbers in China, the U.S. coffee chain is still the dominant player with 28.9% of the market in 2021, dropping slightly from previous year’s 31.2%, according to Euromonitor.

    Market share of Luckin rose to 7.8% last year from 6.3% in 2020.

    Asked how Luckin plans to restore investors’ confidence, Guo said: “We can only rely on Luckin’s business performance, rely on issuing (strong) quarterly, annual reports to restore their confidence. It takes time.”

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  • Silkie Irish Whiskey launches in Australia

    Silkie Irish Whiskey launches in Australia

    Irish whiskey maker Sliabh Liag Distillers has launched in Australia through an exclusive partnership with Dan Murphy’s.

    Two varieties of the Silkie Irish Whiskey will be available: The Legendary Silkie Irish Whiskey – which offers a butterscotch sweetness with green apples and a hint of amber and smoke – and The Legendary Dark Silkie Irish Whiskey which features a rich chocolate character complemented by a salted-caramel sweetness and baked apples “wrapped in a smokey profile”.

    James Doherty, Sliabh Liag Distillers’ founder, said the new Silkie varieties are lighter than the Irish whiskeys most Australians are used to.

    “My aim in creating this collection was to evoke a smoky hue that harks back to a pre-prohibition time when Donegal’s characteristic style was famed for warming, earthy flavours.”

    According to Rosie Keane, Irish Consul general to Sydney, Australia is one of the fastest growing markets for Irish whiskey globally, with sales doubling between 2016 to 2020.

    The Legendary Silkie Irish Whiskey retails for $74.99 and The Legendary Dark Silkie Irish Whiskey for $79.99. Both have 46 per cent ABV.

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