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.

  • Foodpanda kicking off delivering groceries in Hong Kong

    Foodpanda kicking off delivering groceries in Hong Kong

    Foodpanda Hong Kong is adding grocery deliveries to its services from late next month.

    The food-delivery service, pitched in a head-to-head battle with Deliveroo in Hong Kong, is finalising a collaboration with about 100 stores across Hong Kong to source products such as dry groceries, frozen meat and wine for customers ordering online or by app, promising order fulfilment within 30 minutes.

    Foodpanda Hong Kong CEO Arun Makhija said in an interview with the South China Morning Post that the company wants to offer both its customers and its 2000-strong fleet of drivers opportunities beyond delivering restaurant meals.

    Foodpanda has been in Hong Kong for five years and Makhija says the business’ growth remains “exceptional”.

  • Aldi food truck delivering Healthy Food to Football Clubs

    Aldi food truck delivering Healthy Food to Football Clubs

    Discount grocer Aldi is bringing its new food truck to MiniRoos football clubs across Australia to offer kids healthy food options.

    The Mighty Mini Chefs Food Truck has an accompanying app with interactive games for kids to create healthy lunch box based on their daily activities.

    From June 1, Aldi’s food truck will begin visiting 14 football clubs, from Yeppoon in Queensland to Wodonga in Victoria.

    “For the clubs that the truck visits, ALDI MiniRoos participants will be able to play on an app to learn about food and how it impacts their day-to-day lives,” the retailer said in a blog post on Friday.

    “For any kids that don’t get a chance to experience the Mighty Mini Chefs Food Truck, we have the MiniRoos Mighty Menu on hand to inspire parents and children to cook nutritious meals. Created in partnership with the Caltex Socceroos’ chef and nutritionist, Vinicus Capovilla, the seven day menu is full of easy, affordable and healthy meals. The MiniRoos Mighty Menu has been a mighty success, with families all over the country discovering that eating well doesn’t have to be hard work and that healthy foods taste great.”

    The supermarket giant’s three-year partnership with Australia’s largest football program for kids, the MiniRoos, has helped the retailer reach a broader section of the community. The discount grocer partnered with Football Federation Australia on creating fun ALDI MiniRoos sessions that will help kids develop new skills and meet new friends.

    The retailer recently added Sam Kerr, Westfield Matilda’s and Perth Glory player, as an Aldi MiniRoos ambassador.

  • McDonald’s China Teams up loyalty program with Ele.me app

    McDonald’s China Teams up loyalty program with Ele.me app

    McDonald’s customers in China can now earn loyalty points when they order a Big Mac or Filet-o-Fish through Ele.me, Alibaba Group’s on-demand delivery platform.

    Ele.me users can activate a McDonald’s membership card with just one click on the app to earn loyalty points for purchases and receive vouchers worth up to RMB 88.5 (US$12.80). The fast-food giant attracted nearly 20,000 new members on its first day of launching the service on May 20, while single-day orders increased about 20 per cent week-on-week, McDonald’s China said.

    McDonald’s China is one of the first restaurant chains to pilot the new Ele.me service, one of the app’s latest tools to help the food-and-beverage sector seamlessly connect their online and offline operations.

    “McDonald’s is an important strategic partner for us, and we are thrilled to fully integrate their loyalty program with our platform. We look forward to continuing to work together to improve the delivery experience for consumers and provide even more services, benefits and perks,” said Hu Xiaoyu, VP of Ele.me.

    There are more than 3100 McDonald’s restaurants in Mainland China, more than 2000 of which also have a virtual presence on Ele.me. McDonald’s China launched its membership program last year, rewarding members for purchases made in-store or via its app and mini-program. It now counts more than 75 million members.

    “Integrating our loyalty program with Ele.me helps us provide more customers with a complete set of membership services and benefits, which ultimately enhances the delivery experience,” said Emily Pang, head of brand extension at McDonald’s China.

    Also among the first batch of global restaurant chains to bring their membership program to Ele.me are Burger King, Dairy Queen and Papa Johns, all of which reported higher sales in the 30 days that followed their launch. Burger King was the first to opt in last November, and has since attracted 2 million new members, with members contributing to nearly 40 percent of its gross merchandise volume on Ele.me.

    Ele.me plans to roll out even more features, such as birthday perks and member-only sales campaigns, to “bring more value to every purchase,” Hu said.

  • Yum China eyes Thailand with A Fresh Hotpot Concept

    Yum China eyes Thailand with A Fresh Hotpot Concept

    Yum China looks to expand Asian footprint for hot-pot restaurant brand.

    Quick-service restaurant firm Yum China Holdings is seeking entry into the Thai hotpot market, reportedly worth THB5 billion (US$156.7 million).

    The company is seeking a local partner to launch its Little Sheep Mongolian hotpot chain in the territory.

    “The food and beverage industry in Thailand is one of the most developed markets in the world,” said Yum’s senior specialist for franchise development Isa Jiang. “Thailand also has a rich history of hotpots, as well as food culture.”

    Sixty-six Little Sheep outlets opened in China last year, as well as a further 10 abroad. Seventy of the openings were franchised. The restaurant is currently operated in 300 locations across 130 cities.

    “Ma la, or Sichuan hot chillies, is growing in popularity with Thais,” said business advisory firm Gnosis MD Sethaphong Phadungpisuth, “and we believe that Little Sheep will fit well with Thai tastes.”

    “Southeast Asia and the US have the highest projections for expansion this year,” observed Jiang. “We are focusing on Malaysia, the Philippines and Indonesia. Shabu restaurants are quite popular in Thailand, but we are confident in our key product’s characteristics, especially our meat and broth.”

  • In-N-Out Burger opens pop-up Restaurant in Seoul

    In-N-Out Burger opens pop-up Restaurant in Seoul

    In-N-Out Burger, a popular American hamburger franchise, opened a pop-up store on Wednesday in Gangnam, Seoul, drawing hundreds of visitors.

    People began lining up at the store from 6am to try out what can otherwise be tasted only in America. The 250 burgers prepared for the day sold out in just 30 minutes.

    South Korea’s craze for American food brands, including Shake Shack in 2016, and recently Blue Bottle Coffee, is drawing attention from brands.

    The pop-up event, originally scheduled to start at 11am, had to open early at 9.30am due to the massive number of people queuing. All 250 wristbands, needed to purchase a burger, were given out before the clock struck 10.

    This is In-N-Out Burger’s third pop-up store since the last one in 2012. The burger franchise, however, currently has no plans to enter the South Korean market.

    Some argue that the pop-up store is In-N-Out Burger’s strategy to maintain trademark rights in South Korea.

    Experts say that South Korea’s craze over American food chains reflects the people’s need for ‘small but definite happiness’ in the age of social networks.

    When the first Shake Shake opened in South Korea in July 2016, for more than a month, customers had to line up for at least two or three hours to get a burger.

    People also lined up at Blue Bottle’s first store in Seoul’s Seongdong District, which opened early this month.

    “In the age of social networks, people’s need for a ‘small but definite happiness,’ which can be easily shared with other consumers, seems to coincide with these food chains,” said one expert.

    “That is why people seem to become more willing to wait in line for hours, just like how they did at Shake Shack or Blue Bottle.”

  • Starbucks launches Starbucks Now cashless in China

    Starbucks launches Starbucks Now cashless in China

    Starbucks China has launched its new mobile order & pay experience Starbucks Now to 300 selected stores in Beijing and Shanghai.

    The firm is planning to introduce this feature across China over the course of the next year.

    Starbucks Now allows customers to place an order in advance of their visit and pick up their beverage and food at a Starbucks store. The new feature is exclusively available to the cafe chain’s loyalty program members through the Starbucks China mobile app.

    “Starbucks Now represents a significant opportunity for Starbucks China to drive new innovative customer experiences,” said Starbucks China CEO Belinda Wong.

    “This builds on the latest of several digital initiatives in China, including Starbucks Delivers and locally relevant gifting and e-commerce experiences. We are excited to offer this special mobile order & pay service exclusively to our Starbucks Rewards members to provide convenience and speed to suit their on-the-go lifestyle and seamlessly integrate Starbucks into their daily lives.”

    The rollout of Starbucks Now builds on the digital capabilities and infrastructure of the recently introduced Starbucks Delivers program last year. Starbucks Now will provide customers in China a unique and convenient way to order, pay and pick up their favourite Starbucks beverage and food item without the wait.

    The service allows customers to choose a store location based on their GPS location to browse, customise a beverage, select a food offering, view order time, and pay – wherever they may be. Following confirmation of the order, baristas prepare each beverage and ensure the order is ready to hand to the customer when they arrive at the store.

    Starbucks Now is curated to enable customisation as part of the mobile order experience. Through the feature, customers can modify the beverage size, select the number of espresso shots and select their dairy preferences. In a first-ever mobile order feature for Starbucks, beverage options have been expanded to include: type of espresso shot, amount of whipped cream, and room for milk.

  • Dairy Farm adds Starbucks Thailand

    Dairy Farm adds Starbucks Thailand

    Hong Kong operator to partner with local investor, almost doubling its store network overnight.

    Dairy Farm subsidiary Maxim’s is about to add Thailand to the list of markets it operates Starbucks cafes.

    Maxim’s has partnered with a local subsidiary of Singapore-headquartered Fraser & Neave (F&N) to acquire Starbucks Thailand Ltd from the US parent company. F&N, listed in Singapore, is controlled by Thai Beverages, in turn controlled by Thai billionaire Charoen Sirivadhanabhakdi.

    Under the joint venture, Maxim’s Caterers will oversee the retail operations and new store development in Thailand, with F&N apparently taking more of an investment role and fulfilling local company ownership requirements under Thai laws.

    Financial details of the sale were not disclosed, but one US media channel, citing confidential sources, reported the deal was worth about US$500 million.

    “The acquisition allows F&N to leverage Maxim’s long-standing partnership with Starbucks and its extensive experience in running Starbucks stores in multiple markets as well as other food and beverage retail outlets, to grow Starbucks Thailand’s fast-expanding footprint of 372 Starbucks stores,” said F&N in a statement.

    Maxims, through its subsidiary Coffee Concepts, already operates more than 400 Starbucks stores in Hong Kong, Singapore, Vietnam, Macau and Cambodia.

    “This is a significant move for our company,” said John Culver, group president, Starbucks international, channel development and global coffee and tea.

    “We are pleased to transition the Thailand business to Maxim’s Caterers Limited and F&N Retail Connection Co, with their focus on accelerating new store development to realise the full potential of this important market.”

    “We look forward to leveraging our expertise and deep understanding of the Starbucks culture and brand to build on the unparalleled service, craft and passion of our Thai partners (employees) which will propel the business for the future,” said Michael Wu, chairman and MDof Maxim’s Caterers Limited. “We look forward to continuing to deliver the unique Starbucks Experience to Thai customers as we grow.”

    “This acquisition provides an interesting strategic opportunity for F&N to enter and participate in the fast-growing premium retail coffee market in Thailand, one of F&N’s three significant core markets,” said Koh Poh Tiong, F&N’s chairman. “We believe that adding Starbucks Thailand, with its store footprint and its position as a well-recognised coffee retailer in Thailand, will strengthen our competencies in the on-premise sector and elevate our capabilities in directly engaging consumers, in the long term,” he said.

    Starbucks Thailand was launched in 1998.

  • Starbucks China opens First Signing Coffee Store in Guangdong

    Starbucks China opens First Signing Coffee Store in Guangdong

    Starbucks China has opened its first Signing Store, staffed entirely by deaf or hearing-impaired people.

    The store is in Guangzhou, in Guangdong Province which is home to about 4 percent of China’s deaf population. It is Starbucks’ third Signing Store, following outlets in Washington DC and Malaysia.

    Sign language symbols are printed on umbrellas in front of the store, and there are indicators throughout the store. Deaf baristas will wear aprons with the word “Starbucks” embroidered in sign language.

    The store is equipped with a customized ordering system. Customers and partners will be able to communicate using notepads and two-way digital displays. For customers new to sign language, there will be a dedicated area for customers to write down their orders on an electronic board and wireless vibrating pagers will notify customers when their orders are ready.

    The cafe also features exclusive artwork and unique merchandise designed by deaf artists.

    The initiative aims to offer employment and career-advancement opportunities for the deaf and hard-of-hearing community as well as “a welcoming hub for those passionate about improving accessibility and experiences for all”. It is located near the Guangdong Disabled Association and Guangdong Deaf People Association.

    “Starbucks is committed to creating equal opportunities for everyone, as well as a unique third-place experience that addresses a wide range of community needs,” said Belinda Wong, CEO of Starbucks China. “The new Signing Store is an example of how we are building inclusive environments and careers for our partners.”

    Store staff, who have been recruited from across China, are fluent in Chinese sign language.

    To create an inclusive environment and encourage customers to learn more about the deaf community, the store will also offer sign-language lessons and coffee workshops in sign language.

    “The Guangdong Deaf People Association is proud to partner with Starbucks to provide training and opportunities for the deaf and hard of hearing community,” said Yitao Fan, vice chairman, China’s Deaf People Association and president of Guangdong Deaf People Association. “Thanks to Starbucks, deaf partners are empowered to develop their careers in a vibrant and supportive environment, while the store provides a strong platform to drive societal awareness around deaf culture and the needs of the community.”

  • Basao delivers ‘sineculture’ at Star Street

    Basao delivers ‘sineculture’ at Star Street

    Homegrown Hong Kong fine-tea brand Basao was launched online four years ago. Now the fast-growing brand has opened its first physical retail outlet on Moon Street, in Wanchai’s hip Star Street foodie precinct.

    Since 2015, Basao has been attracting a growing following for its teas, which appeal for not only their fine taste, but their holistic health benefits. The teas are handpicked by partner growers in Mainland China, Taiwan, Nepal, India and Japan.

    “We believe tea appreciation will evolve in the same way as drinks like coffee, wine and craft beer,” explains founder COO Oliver Ma. “They have all started reaching a new generation of discerning enthusiasts in recent years and I think tea is ready for a very similar experience. Interesting times are brewing for long overdue respect and admiration of this ancient craft.”

    Basao tea is named in honour of an 18th century Japanese Buddhist monk with the slightly different nickname of Baisao, or “old tea seller”, who became famous for travelling around Kyoto selling tea.

    Ma says Basao is now similarly admired for pioneering a “modern holistic era of sineculture,” (the science of everything relating to tea), working closely with small artisan growers across Asia, promoting sustainable, eco-friendly cultivation and production of highest-quality tea without chemical pesticides.

    “Our tea engineers advocate the holistic ecology and craft of tea as an art, not just a mere commodity, connecting personally with our partner growers from cultivation and picking to brewing, packaging and fair trade,” he says.

    A diverse tea range extends from Basao’s collection of black tea, green tea and oolong brewed by experienced tea masters, through to chilled bottled tea, Japanese matcha, traditional blends and Chajito specialties.

    Hitherto sold only online, now these brews can be tried and purchased at the new Basao tearbar. Visitors to the store are greeted by a bright white and warm-wood interior in a laid-back venue with a bar where tea masters explain their brews.

    Workshops are held at the cafe, conducted by renowned Hong Kong tea master Katherine Yu Man-sum, a protege of tea pioneer Master Yeung Chi-sum in the 1980s, and founder a tea appreciation course called Teaism, teaching Cha Tao (The Way of Tea), at the Jockey Club Creative Arts Centre.

    Basao’s single-origin, clean-grown signature authentic loose leaves are highlighted by black teas including Lingia Second Flush, a coppery summer tea from Darjeeling’s Golden Valley in the Himalayan foothills of India, with a spicy mineral flavour and hints of tangerine and waffle cone; sweet and refreshing Seaside Honey from the Kararuan Coast of southeastern Taiwan; and Traditional Smoky Bohea from the home of China’s Wuyi Mountain smoked black teas located in the highlands of northern Fujian in China.

    Among the oolongs are sweet, crisp and floral Gardenia Dancong from Phoenix Mountain, Guangdong; and slightly sweet Red Heart Tieguanyin from Anxi, Fujian China Spring, with a hint of daisy, lily and dry-wood aroma; and honey and jasmine flavour.

    Headlining the Japanese green tea offer is sweet and savoury Wazuka Sencha green tea with a unique fresh spinach flavour and light, delicate finish from the legendary plantations of Wazuka, near Kyoto.

    Cold brew teas also include Nitro Cold Brew, Cold Brew and Fruit-Infused Nitro Cold Brew, steeped in cold water, rather than brewed, for a sweeter, milder, low-caffeine, low-tannin option high in vitamin C.

    Also launched is First Crush Kombucha, an ancient, refreshing cure-all elixir that is naturally bubbly and deliciously sweet and tart, crafted from Lingia First Flush in a new partnership with local Kombucha brewery Taboocha.

    Basao’s teabar also serves desserts incorporating its signature teas, with a menu including Homemade Tea Cake Roll, Basao Tea Ice Cream, Tea Crystal, and Belgium Waffle, with Basao homemade tea syrup.

    The Basao teabar is located on the ground floor of 17 Moon Street, open daily from 11am to 8pm.

  • First Burger & Lobster Store to open in Singapore

    First Burger & Lobster Store to open in Singapore

    Burger & Lobster Singapore will open its first outlet, at Jewel Changi tomorrow.

    The 81-seat Jewel Changi store is the 16th Burger & Lobster’s outlet internationally. Others are in locations including New York, Bangkok, Dubai, Genting Highlands in Malaysia, London and Kuwait City.

    “Singapore is an extremely important market as we see Singaporeans in our outlets particularly in London, Bangkok and Malaysia,” said Riccardo LaMonica, Burger &Lobster’s regional head of operations.

    “There is no immediate plan for another Burger & Lobster Singapore outlet,” he said. “We will have to see how people respond.”

    The new eatery’s menu offers Original Lobster with live lobsters from Nova Scotia, Canada, and Original Roll with tender lobster meat rolls.

    There will be a Singapore twist – items available exclusively at Jewel Changi – such as the Sambal Glazed Lobster, and Chocolate Jewels, a dessert of dark chocolate spheres topped with housemade caramel sauce.

    A bar operates from 9am until midnight daily, offering a selection of cocktails, beer and wine.

  • Global food e-commerce sales forecasted to Triple

    Global food e-commerce sales forecasted to Triple

    A new report has forecasted global food e-commerce sales to nearly triple through 2023, rising to US$321 billion and accounting for nearly 5 percent of total e-commerce revenues.

    The Global Food E-Commerce report, released by market research firm Packaged Facts, projects the Asia Pacific region will account for the majority of absolute growth, primarily due to the rapidly expanding Chinese market.

    China dominates regional e-grocery activity in part because of the country’s large urban population and rapidly expanding the middle class. In addition, much of China’s large population has access to high-tech devices and the ability to shop online, due to the country’s position at the forefront of technological development and electronics.

    Last year, more than 75 percent of global food e-commerce sales were concentrated in the top five markets: China, the US, Japan, the UK, and South Korea. In each of these countries, e-grocery spending is highest in large urban centers, where many retailers have focused their marketing efforts for home delivery or click-and-collect services.

    The report states that through 2023, demand growth in these countries will be driven by five key factors: increasing comfort among existing online shoppers in making routine grocery purchases online; growing use of subscriptions and memberships with online retailers; greater penetration of broadband internet in rural and remote areas; greater acceptance of (and investment in) home delivery, click-and-collect, and drive order fulfillment formats in an increasingly omnichannel retail environment; and improvements to data security that ease consumer fears about having their personal information stolen while shopping online.

  • Vinomofo seeks to satisfy Singaporeans

    Vinomofo seeks to satisfy Singaporeans

    Online wine business Vinomofo has appointed its first employee in Singapore, fortifying its growth strategy in the region.

    “We like to build out our community and business in person as much as possible, and Michael’s appointment will help us do that,” Dry said.

    The US is Vinomofo’s next area of expansion. According to Dry, the company is in “advanced discussions” to launch in the region, but he said there is always the possibility Vinomofo will launch in another market first.

    “There are lots of interesting opportunities popping up at the moment, so all I can say is stay tuned,” Dry said.

    Online wine business Vinomofo has appointed its first employee in Singapore, fortifying its growth strategy in the region.

    Michael Parmeter has been appointed general manager of Singapore, and will look after ground operations, strategic growth, merchandise and local area marketing.

    According to Parmeter, his main task is to streamline local operations in the region and be a point of contact on the ground, from talking with locals about what they are drinking, and helping ensure the right wines are sent to Singapore, through to overseeing and handling, storage and final stage of delivery.

    “A major opportunity for the Singaporean market is attributed to the thirst for knowledge in the region,” Parmeter said.

    “We have found our mofos in Singapore are keen to try new varietals and learn about wine in general, which perfectly suits our operation.”

    Vinomofo chief executive and co-founder Justin Dry  said that Singapore is a “great market” for the business, and that Parmeter’s appointment will assist with expanding operations in the region in the near term and getting into the corporate wine sales market, where he has experience.

    “We like to build out our community and business in person as much as possible, and Michael’s appointment will help us do that,” Dry said.

    The US is Vinomofo’s next area of expansion. According to Dry, the company is in “advanced discussions” to launch in the region, but he said there is always the possibility Vinomofo will launch in another market first.

    “There are lots of interesting opportunities popping up at the moment, so all I can say is stay tuned,” Dry said.

  • Jamie Oliver’s UK restaurant chain collapses

    Jamie Oliver’s UK restaurant chain collapses

    International outlets, such as those in Hong Kong, Singapore and Thailand, will continue to trade.

    Jamie Oliver’s UK restaurant chain has collapsed – but the international outlets remain trading for now.

    “I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade,” said Oliver, who rose to fame as a television celebrity chef before founding a network of high-street restaurants in 2008.

    “I appreciate how difficult this is for everyone affected.”

    Jamie Oliver’s UK restaurant chain employed about 1300 people in 25 outlets bearing the brands Jamie’s Italian, Barbecoa steakhouse and Jamie Oliver’s Diner. They are now in administration.

    UK news media reported the process did not affect the business’ international operations which are largely run by local franchise partners. They include restaurants in Causeway Bay and Harbour City, in Hong Kong, at VivoCity and on Orchard Road in Singapore; and at Bangkok’s Siam Discovery.

    High-street restaurant chains have been hampered by a rough trading environment in recent years, in both the UK and the US. In the UK, rival operator Boparan Restaurant Group revealed plans in March to shutter more than a third of its outlets, trading under the Giraffe and Ed’s Easy Diner brands. Other operators, including Prezzo, Strada, Gourmet Burger Kitchen and Carluccio’s all closed stores last year.

    In the US, casual dining chains like Applebee’s, TGI Friday’s and Ruby Tuesday have scaled back their networks.

    The collapse of Jamie Oliver’s UK restaurant chain this week follows a rescue attempt last year in which the company entered a company voluntary arrangement with landlords to close some stores and reduce rents on others in a bid to continue trading.

    But the company has now succumbed to intense competition, rising costs and a tough consumer market.

  • Impossible Foods Teams Up with Honbo for Taikoo Place food truck

    Impossible Foods Teams Up with Honbo for Taikoo Place food truck

    Vegetable-based meat product retailer Impossible Foods is partnering with Hong Kong business hub Taikoo Place and various restaurant partners in a food truck charity initiative taking place from May to July.

    Since launching on May 6 with Pici, Impossible Foods’ truck has been gearing up to serve recipes from grassroots burger restaurant Honbo to residents and workers at Taikoo Place.

    From May 20 to June 14, customers of the Impossible x Honbo food truck can select from a range of the brand’s “Impossible” burgers alongside fries and drinks. 10 per cent of all proceeds will go Sai Kung-based charity Catherine’s Puppies, which works to rescue and rehome stray dogs.

    From mid-July, Impossible Foods and Taikoo Place will launch their next partnership with Hong Kong’s “greenest caterer”, Invisible Kitchen. The group will cater for planned Swire Properties events inviting members of the public to “Discover Taikoo Place” while promoting its sustainable foods concept to the wider community.

    Impossible Foods is now serving its plant-based meat products in more than 7000 restaurants across the US, Hong Kong, Macau and Singapore.

  • Indian grocery chains merging to create nation wide network

    Indian grocery chains merging to create nation wide network

    Two regional Indian grocery retail chains are effectively merging, creating a national player.

    Spencer’s Retail, part of RP Sanjiv Goenka Group, says it will pay US$42.76 million to acquire upmarket grocery chain Nature’s Basket from Godrej Industries.

    The deal will give Spencer’s access to the western part of India through 36 stores of Nature’s Basket in Mumbai, Pune and Bengaluru, according to Shashwat Goenka, head of RPG. It will also strengthen the company’s omnichannel capability.

    Tanya Dubash, executive director and chief brand officer at Godrej Group, said the sale would unlock “the immense potential of the Nature’s Basket brand” allowing it to grow faster.

    “We have passed on the torch to owners who have prioritised retail in their portfolio strategy and have the relevant ecosystems to take the business to the next level,” she said.

    Nature’s Basket was launched in 2005.

    Goenka said the Nature’s Basket stores are located in prime residential locations, have a high sales throughput per square feet, and will add to the top line of Spencer‘s grocery portfolio.

    “Nature’s Basket has a strong portfolio of private-label brands which has huge traction with its consumers. We believe there is huge potential to expand this to Spencer’s stores. It also has a strong e-commerce presence, and we believe that fits in well with our omni-channel strategy.”

    He said both chains were positioned as experiential grocery retailers and there were many synergies in the acquisition.