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.

  • Hong Kong’s Tsui Wah eatery to open in Singapore

    Hong Kong’s Tsui Wah eatery to open in Singapore

    Hong Kong chain Tsui Wah’s first outlet in South-east Asia will open in Singapore on June 15, in partnership with Jumbo Group.

    The cha chan teng (coffee shop-style) outlet in Clarke Quay will seat more than 140 customers and serve signature items including milk tea, crispy bun with condensed milk and curries, say the partners.

    For months, chefs from Tsui Wah in Hong Kong have been training staff in Singapore, and some of the chefs will stay on.

    Tsui Wah in Singapore is a franchise by Vista F&B Services, a JV between Tsui Wah Holdings and Jumbo Group, which is behind Jumbo Seafood restaurants.

    Funded in Mong Kok in 1967, Tsui Wah has 70 outlets in Hong Kong, Macau and China, and is known for its Cantonese-style comfort food.

  • Beer brands pour big bucks into ads as Vietnam bucks global trend

    Beer brands pour big bucks into ads as Vietnam bucks global trend

    As more and more Vietnamese drinkers take to beer and competition heats up, leading brands are spending big on advertisements.

    Saigon Alcohol Beer and Beverages Corporation (Sabeco), the leading beer producer in Vietnam which brews the well-known Saigon and 333 beers, spent VND1.2 trillion ($52.9 million) on advertising last year.

    While this figure is slightly less than its 2016 outlay, it still places Sabeco on the top of advertisement budgets list in the beer industry, spending more than VND1 trillion spent on product promotion in each of the last three years.

    Meanwhile the producer of Hanoi and Truc Bach beers, Hanoi Beer Alcohol and Beverage Jsc, known as Habeco, spent VND568 billion ($24.6 million) on ads last year, over 3 times its 2014 expenditure.

    The increased spending is a response to Habeco’s declining share of the beer market in recent years, from its heydays of having the most popular brands in Northern Vietnam. The company has been augmenting its advertising budget as “there has been no breakthrough in the marketing activities of the brand,” according to Viet Capital Securities, which claims to provide comprehensive research to assist investors in maximizing profits.

    Sabeco, Habeco, along with Heineken and Hue Brewery (which is owned by Carlsberg) made up 90 percent of the beer market in Vietnam last year. The big four are known to spend big on advertisements as they compete with each other in the Vietnamese market, which is considered to have more advantages than other countries.

    “While beer consumption in many countries has stalled, there is still a lot of potential for this industry in Vietnam,” said Nguyen Van Viet, president of the Beer, Alcohol and Beverage Association (VBA) in a recent conference.

    In China and some European countries, beer consumption has stagnated or even declined slightly. But in Vietnam it is forecast to rise in the coming years, Viet said.

    He is backed by a study of the Asia-Pacific beer market conducted by Euromonitor, which claims to be the world’s leading independent provider of strategic market research.

    The study found that beer consumption in the world has not increased in a decade, but in Vietnam, this figure is increasing rapidly.

    In 2008, Vietnam ranked 8th position in beer consumption in Asia, just 8 years later it had climbed to 3rd position, behind Japan and China.

    In a market dominated by big players, new businesses are having trouble making a stand. Laser, Fosters and Zorok are among the brands that have tried and failed to gain a decent foothold in the Vietnamese consumer. Local media reports have said that the high costs of advertisements had made it difficult for these firms.

    Sapporo, one of the newer entrants, has recorded higher consumption in recent years, but very high marketing costs have seen to it that its profit is not substantial, Viet said.

    Last year, Vietnam consumed over 4 billion liters of beer, and a Vietnamese person consumed 45 liters on average, according to VBA. The country targets production of 4.1 billion liters of beer in 2020 and 5.5 billion in 2035.

  • Pret A Manger sold to Krispy Kreme owner for £1.5bn

    Pret A Manger sold to Krispy Kreme owner for £1.5bn

    Pret A Manger’s global business, including Hong Kong and Singapore, has been sold to global investment firm JAB.

    Flush with cash from the sale of Jimmy Choo and a controlling interest in Bally, JAB is refocusing its core business investments on consumer goods and cafes. The company, majority owned by Germany’s secretive Reimann family – has controlling stakes in US coffee brand Keurig Green Mountain, European coffee supplier Jacobs Douwe Egberts, cafe chains Panera Bread, Peet’s Coffee & Tea, Caribou Coffee Company, US bagel chain Einstein Noah Restaurant Group, Krispy Kreme Doughnuts, and Espresso House, Scandinavia’s largest branded coffee shop chain. It also owns shares in makeup giant Coty and consumer goods company Reckitt Benckiser.

    UK-headquartered Pret A Manger, which has 530 stores globally, including 26 in Hong Kong, one in Singapore and two in Mainland China, serves 300,000 customers daily with global revenues of £879 million (US$1.166 billion).

    JAB will pay nearly $2 billion for the business (including taking over debt) to private equity investor Bridgepoint and an assortment of minority shareholders. According to BBC News, all 12,000 staff globally will receive a bonus of about US$1200. Bridgepoint bought the business in 2008, including a 33 per cent stake then held by fast-food operator McDonald’s Corporation, paying €500 million for the business, or US$584 million at today’s exchange rate.

    Pret A Manger CEO Clive Schlee described the sale announcement as “a day of celebration at Pret”.

    “This agreement recognises the hard work of all our amazing teams around the world. Bridgepoint has been a wonderful owner of the business for more than a decade. All of us at Pret believe JAB will be excellent long-term strategic owners.”

    He said JAB supported Pret’s growth plans, suggesting further expansion in Asia is on the cards as the company refines its offers in Singapore and China.

    “I am really looking forward to this next chapter of Pret’s story.”

    The deal follows a ninth successive year of like-for-like sales growth for Pret A Manger.

    “The brand continues to thrive around the world thanks to our simple recipe of freshly prepared food, served by genuinely engaged teams,” said Schlee.

    JAB partner and CEO Olivier Goudet said his company plans to continue Pret’s “extraordinary growth story”.

    “Management’s proven track record and commitment to customer service, investment in innovation and approach to freshly prepared food position Pret well as it capitalises on evolving consumer taste and lifestyle preferences. We look forward to working with Clive Schlee and his management team, while promoting the Pret brand and supporting Pret’s impressive culture for the next phase in the company’s growth with JAB.”

    Last year, Philippines fast-food operator Jollibee was linked to a bid for Pret A Manger at a value exceeding $1 billion and Bridgepoint was also reportedly considering an IPO for the business.

    It would appear from the published reactions of Pret A Manger management private ownership is a more comfortable fit with the business.

  • AS WATSON unveils new foodservice-focused concept store in China

    AS WATSON unveils new foodservice-focused concept store in China

    Located on B2 of the Cheung Kong Center, the store, called CKC18, groups together four AS Watson retail brands in a way which makes each store appear independent, but connected.

    The 26,000sqft CKC18 is home to international food emporium Food Le Parc, health and beauty outlet WatsonsLab, a TechLife by Fortress and Bar 0001 by Watson’s Wine.

    CK Hutchison Holdings chairman and group MD Victor Li and AS Watson Group MD Dominic Lai led the management team at a grand opening event last week.

    “As one of the landmarks in Hong Kong, Cheung Kong Center is located at the heart of the business district in Central with top notch financial institutions,” said Lai. “The grand opening of CKC18 indicates that Cheung Kong Center will soon become a hotspot for dining, shopping, entertaining and self-pampering.”

    TechLife by Fortress

    The electronics store brings together what AS Watson describes as “the trendiest and most innovative lifestyle gadgets”, eSports products and exclusive products from Xiaomi. There is also a GameZ area that allows customers to try on the international renowned eSports gear.

    Food Le Parc

    Food Le Parc – which translates to food park in English, offers 8500 choices of food from around the world, of which 1600 products are exclusive to CKC18.

    WatsonsLab

    A specialised Watsons boutique, WatsonsLab includes a ‘beauty bar’ that carries leading global cosmetics brands. A ‘Style Me’ app available in-store leverages Augmented Reality technology to offer virtual make-up services, offering more than 100 mix-and-match looks.

    Bar 0001

    Watson’s Wine and its in-shop Bar 0001 offers almost 100 wines, sakes and spirits sourced from around the world by the glass and more than 700 wines to take away.

     

    New technologies

    Lai says the team which created CKC18 wanted the store to demonstrate AS Watson’s determination to speed up digital transformation.

    The Scan & Go function in the app MoneyBack allows customers of Food Le Parc to simply take the products, scan the barcodes with their phones and pay at self-checkout counters. And at WatsonsLab, the Style Me tablet equipped with AR technology instantly and virtually shows customers how they look like when applying different makeup products.

    “We are glad to introduce the latest retail technologies to optimise shopping experience in a convenient and innovative approach. CKC18 applies technologies intensively. Besides the use of Alipay and other mobile payments, unmanned checkout counters are also available at WatsonsLab.

    Customers can simply checkout by placing their shopping baskets on checkout counters that automatically scan and tally up the total, and electronic payments are supported.

    “In addition, customers can use the TasteToGo function in MoneyBack app to reserve their meals in advance at Food Le Parc, minimising their waiting time during rush hours.”

    The store will also host events such as cooking exhibitions, gaming shows by eSports players, sake tasting and personalised make-up designs.

    AS Watson Group is the world’s largest international health and beauty retailer, currently opening a new retail store somewhere in the world on average every seven hours. That equates to 1300 this year, including more in Hong Kong.

  • CJ opens store for prepared meals

    CJ opens store for prepared meals

    Korean foods retailer CJ CheilJedang has opened its first “home meal replacement” (HMR) store, called CJ Olive Market, in Seoul.

    The 443sqm store is located at CJ CheilJedang headquarters building, and is divided into two areas – a restaurant where customers can buy food from a vending machine or cooked on-site by chefs – and a grocery store.

    Th team of CJ chefs will come up with new menu items every two months.

    CJ has also developed a smartphone app that allows customers to buy products by scanning codes printed on products or table mats in the store.

    “Our HMR business will evolve into a future-oriented business that suggests integrated menus for home meals,” said Son Eun-kyung, head of CJ CheilJedang’s food marketing division.

    The company also plans to develop a virtual reality store.

    CJ CheilJedang hopes its new HMR range will help it grow sales to US$3.3 billion by 2020.

  • Vietnam tax on sweetened drinks hurts the business

    Vietnam tax on sweetened drinks hurts the business

    A Finance Ministry proposal to slap a 10 percent special consumption tax on sweetened drinks would hurt small and medium businesses, critics say.

    Business representatives and some experts say the beverage industry is already taxed heavily, and the latest addition could prove to the last straw.

    The tax proposal, first announced last year and expected to take effect in 2019, aims to promote healthier habits by discouraging the consumption of sweetened drinks. The Ministry has cited reports from the World Health Organization, saying overconsumption of sweetened drinks lead to obesity and that a fourth of Vietnam’s population are already obese or overweight adults.

    “The tax will help regulate the consumption of sweetened beverages, and it’s also an international norm,” the proposal says.

    However, the Vietnam Association of Liquor, Beer and Beverage (VBA) has protested the move, saying the tax could hurt small and medium businesses by promoting circulation of fake products.

    “The tax proposal would lead to higher production costs, allowing fake and low-quality products to thrive,” it said in a statement.

    Many industry insiders also say they are already paying no less than 10 different types of taxes.

    “If this tax proposal passes, we won’t be able to survive,” a Thursday report by the Tuoi Tre newspaper quoted an unnamed vice director of a beverage firm in the southeast province of Binh Duong as saying.

    Nguyen Van Viet, president of VBA, suggested an incremental imposition of the tax in order to reduce the burden on businesses.

    The industry stand has been backed by several ministries, who rejected the Finance Ministry’s rationale that sweetened drinks contain an unhealthy amount of sugar, warranting a special consumption tax.

    The Ministry of Industry and Trade said in a statement that imposing a special consumption tax on sweetened drinks because they contain sugar was not a convincing enough reason.

    It said the Finance Ministry needs to give clearer explanations for its proposal.

    The Trade Ministry statement echoed the argument made last October by the Vietnam Chamber of Commerce and Industry (VCCI) that a special tax should only be imposed after adequate studies have been made on the drinks’ impacts on consumer health and if the tax could help reduce the risks significantly.

    The Ministry of Planning and Investment is also against the proposal, which it says could adversely affect the beverage industry and its large workforce.

    In Vietnam, special consumption taxes are levied on items and services considered unhealthy or luxurious, like tobacco, liquor and cars.

    Many Southeast Asian countries have already imposed taxes on sugary drinks, according to the Finance Ministry. The current rate is 20-25 percent in Thailand, 5-10 percent in Laos and 10 percent in Cambodia.

    Myanmar, the Philippines and Indonesia are considering a similar tax.

  • L’Occitane to open Singapore-based pop-up café

    L’Occitane to open Singapore-based pop-up café

    French fragrance retailer L’Occitane plans to open a pop-up cafe, named A Journey in Every Sense, at Ion Orchard between July 3 and 16.

    Launching in collaboration with dessert specialist Janice Wong, it will feature her creations with such ingredients as cherry blossom, verbena, bergamot, rose and almond. Being promoted as a Province experience, the cafe also feature a skincare and bodycare texture bar allowing consumers to sample products, as well as 360deg VR exploration of the French region.

    At home in France, L’Occitane lately created a lifestyle pop-up concept including an essential oils distillery, restaurant, coffee and cocktail bar.

    To see more, browse the gallery below :

  • Toast Box to launch new concept

    Toast Box to launch new concept

    Toast Box Philippines, the Singaporean restaurant chain known for its kaya toast, eggs, and coffee sets, is closing – but plans to re-open with a new concept.

    Announcements at its Manila branches have cited tomorrow as the final day of trading in the Philippines. “We want to take this opportunity to sincerely thank you for your patronage for the past 10 years. It has been a privilege and a delight serving you.

    “We will be renovating our stores and will reopen with a new brand. We hope to see you back in our stores very soon.”

    Toast Box is one of several food retail brands owned by Singapore’s BreadTalk Group. Others include Bread Society, BreadTalk, Din Tai Fung, Food Republic, So, The Icing Room and Thye Moh Chan.

    However a Toast Box Philippines marketing executive has confirmed the company will close its Manila branches then introduce a new concept, “Nanyang”, which will offer Asian favourites. It will launch at SM Aura in Taguig on June 1.

  • Alibaba demonstrates smart ordering in cafe and restaurants using voice AI

    Alibaba demonstrates smart ordering in cafe and restaurants using voice AI

    Alibaba Machine Intelligence Technologies has unveiled an intelligent speech interaction technology aimed at “smart ordering” in cafes and restaurants. The new technology lets buyers order their food item or coffee by speaking to a smart ordering machine.

    The Alibaba DAMO Academy unit, which focuses on fundamental AI research, said the machine will understand the customer order requests and display the order onscreen in a split second.

    Buyers can modify their orders as many times as they want, and the machine is expected to catch all the changes and update immediately. For example, a customer might say: “I want to order two large cups of cappuccino. Oh, please make them with less sugar and decaf. To go. And sorry. That should be three cups of cappuccino, two large and one small.” The smart ordering machine will then display the full order as two large cups and one small cup of decaf cappuccino, all with less sugar than usual and note that it’s for takeout.

     

    Smart ordering is possible through the team’s latest research in spoken language understanding (SLU), a field that involves both speech processing and natural language processing. First, the team develops a multi-modal speech interaction solution that can capture both voice and visual features, taking into account such things as the speaker’s pace, pauses between words, pronunciation, breaths and facial expression. Next, the team builds a reinforcement-learning model that allows for revisions and intent detection. All are important in the SLU field, making it possible to apply the latest SLU technology into commercial use.

    The solution is currently only for Chinese-speaking customers. The smart ordering machine is expected to roll out to the market in the next few months, and the technology solution will be available on Alibaba Cloud to benefit small and medium-size enterprises.

    Zhijie Yan, Head of Intelligent Speech Interaction at Alibaba Machine Intelligence Technologies said, “Our multi-modal speech interaction solution, underpinned by our insights in spoken language understanding, can be used in different scenarios including food and beverage ordering, customer service, voice commands for home appliances and in smart cars, and voice response to inquiries in shopping malls or airports.” “With the smart ordering machine as a perfect example, we believe the solution would greatly enhance the customer experience and make running a business more efficient,” added Yan.

    In December last year, Alibaba introduced far-field voice-recognition technology to ticketing kiosks in Shanghai metro stations, allowing passengers to use their voices to tell the kiosks their destination, and the machines will recommend the best route.

  • My Melody Café Is Opening In Singapore At Suntec City

    My Melody Café Is Opening In Singapore At Suntec City

    Japan’s My Melody Cafe plans an outlet at Suntec City.

    Commonly known as My Melo, the character central to the cafe is a white rabbit from Japanese characterisation company Sanrio who is said to be a good friend of Hello Kitty.

    With an al fresco garden setting, the cafe will feature a floral arch, garden-themed mural wall and a cottage house.

    The menu will offer five mains, six desserts and seven character-customised drinks.

     

  • Thailand’s biggest Starbucks opens at CentralWorld Bangkok

    Thailand’s biggest Starbucks opens at CentralWorld Bangkok

    After months-long renovation, Starbucks on the 1st floor of CentralWorld is now back in operation and, this time, becomes Thailand’s biggest store with the area spanning over 600 square meters.

    Decked out with curvy, bright-colored wood and artsy details, the newest Starbucks cafe also offers a new nitrogen-infused drinking experience. While Nitro Cold Brew coffee has been around for a while, Starbucks sets off a new line of frothy drinks on tap (dubbed Draft) composing of Cold Brew Coffee, Nitro Cold Brew coffee, Nitro milk and Nitro peach tea, from which you can choose to create your choice of eight concoctions. For example, Nitro Green Tea Latte is the creamy foam of matcha with Nitro milk, while Nitro Flat White is composed of intense shot of espresso with Nitro Milk.

    Draft drink starts from B130 for short glass or you can go for a flight of four selections for B600.

  • Indonesia Considers Stopping Palm Oil Exports to the EU

    Indonesia Considers Stopping Palm Oil Exports to the EU

    Indonesia is preparing for a worst-case scenario should the European Parliament’s draft of a ban on the use of palm oil in biofuels get approved by the European Commission and European Council.

    In January, members of the European Parliament voted in favor to phase out the use of biofuels made from palm oil by 2021 to fulfill the EU’s Renewable Energy Directive, which aims to reach a renewable energy target of 27 percent by 2030, including in transport fuels.

    A decision on whether the ban will be legally imposed in all EU country members will be made in 2019. If approved, Indonesia and Malaysia, who together produce nearly 90 percent of the world’s palm oil, will suffer a hard blow.

    “There’s an [ongoing] study about stopping exports to the European Union altogether. When it’s done, Indonesia can see that palm oil trade with them is risky. The study is to eradicate that risk once and for all,” Mahendra Siregar, executive director of the Council of Palm Oil Producing Countries, said in a discussion hosted by the Jakarta Foreign Correspondents Club (JFCC) on Friday (25/05).

    The council has commissioned several research institutions and universities to help produce its research, which is expected to be completed by the end of the year at the latest.

    Palm oil is a key source of revenue for Indonesia — the world’s biggest palm oil producer — accounting for about 14 percent of the country’s total exports.

    The EU is the second largest export market for Indonesian palm oil, importing around 5 million tons of the key Nutella ingredient each year. According to Ministry of Trade data, the EU has always been in the top two destinations for palm oil, along with India, since the 1990s.

    Purbaya Yudhi Sadewa, deputy minister of coordinating maritime sovereignty at the Coordinating Ministry of Maritime Affairs, said the EU must address trade barriers that discriminate against palm oil for the matter to be solved quickly.

    “Our goal is not to force the European Union to use palm oil, but we demand fair treatment for palm oil with other vegetable oils,” Purbaya said, adding that the EU now seems to solely target palm oil.

    “If the European Union has shown that they are not discriminatory towards palm oil, then we will gladly comply to their policy,” he said.

    The EU has insisted that it has no intention of building trade barriers against Indonesian palm oil and will address all drivers of deforestation, including soy, cocoa and coffee, but it has so far only proposed to ban palm oil imports.

    “The way I see it there is a [business] competition as they [EU country members] produce rapeseed oil which is expensive, while our palm oil is cheaper,” Trade Minister Enggartiasto Lukita said last month.

    According to a study by the Malaysia Palm Oil Council, oil palms occupy 9.2 million hectares of agricultural land and produces 31.8 percent of global oils, while soybean and rapeseed crops require 10 times this amount of land to produce similar yields.

    “This is an unhealthy competition … If it [palm oil] is disturbed, then we will also disturb the EU,” Enggartiasto said, adding that the ministry plans to ban fisheries from the EU if the draft is approved.

    Deforestation

    Vincent Guerend, EU Ambassador to Indonesia and Brunei Darussalam, however, said the union is considering to progressively replace food-based biofuels by more advanced ones, such as electricity, to prevent land-use changes affecting peatlands and tree cover.

    “The EU was the one to promote biofuel as renewable over 10 years ago. But because EU is such a big market, it has some very strong pull effects—negative effects to be exact,” Vincent said.

    According to Vincent, food prices are rising due to increasing land use for palm plantation that reduces available land for food crops. The expansion also contributes to deforestation, threatening species including elephants and orangutans.

    Data from the Central Statistics Agency (BPS) shows that land used for palm plantation rose from only 4 million hectares in 2000 to 11.9 million hectares in 2017. That figure is predicted to increase to 13 million hectares by 2020.

    A research study by the European Commission also shows that greenhouse gas emissions from biodiesel are more than three times higher than those from conventional diesel engines, when indirect effects are considered.

    New Markets

    Indonesia shipped out the highest value of palm oil ever in 2017, contributing to the year’s $12 billion trade surplus.

    According to BPS, palm oil exports and its derivative products reached $23 billion, up 26 percent from $18 billion in the previous year. The increase was in line with higher sales in non-traditional markets, according to a report by the Indonesian Palm Oil Association (Gapki) released in January.

    The export volume of palm oil to Africa countries jumped nearly 50 percent to 2.3 million tons in 2017 from 1.5 million, while exports to Middle Eastern countries also increased by 7 percent to 2.1 million tons from 1.9 million, the report showed.

    China — facing a threat of declining edible oil supply in trade wars with the United States — has also promised to increase palm oil imports from Indonesia by up to 500,000 tons per year. China bought 3.73 million tons of Indonesian CPO last year, from 3.23 million tons in 2016.

    “When we talk about the importance and significance of the EU on palm oil, this is the reality, which means the worst scenario can lead to a situation that palm oil can live without the EU. The question is of course whether the EU can live without palm oil,” Mahendra said.

  • Starbucks is now a public space

    Starbucks is now a public space

    You no longer have to buy a coffee to use Starbucks’ bathroom or plug in your laptop for an afternoon of web browsing, but that doesn’t mean you can camp out for a nap or bring alcohol into the cafes.

    Starbucks has been updating its guest policy in the wake of public outcry over the arrest of two black men in a Philadelphia cafe.

    “Any person who enters our spaces, including patios, cafes and restrooms, regardless of whether they make a purchase, is considered a customer,” the company said in a statement last week.

    However, Starbucks’ decision to open up its doors and patios to nonpaying customers drew complaints that Starbucks stores would turn into havens for drug users and the homeless.

    While some have praised the coffee giant for its more open policy, others have used it to poke fun at the company. On Twitter, some users joked about Starbucks becoming free offices for freelancers, homeless shelters and drug dens.

    The coffee giant has since clarified its policy, telling The Wall Street Journal that employees have been instructed on how to deal with people who are being disruptive, smoking or using drugs and alcohol or sleeping inside the cafes.

    “We want our stores to be the third place, a warm and welcoming environment where customers can gather and connect,” the company said in a statement. “When using a Starbucks space, we respectfully request that customers behave in a manner that maintains a warm and welcoming environment by: using spaces as intended, being considerate of others, communicating with respect [and] acting responsibly.”

    Starbucks said employees should contact the police if a situation “presents immediate danger” and can request that a customer be prohibited from returning to Starbucks stores.

    The policy change, which was first announced last week, comes as Starbucks gears up for its nationwide racial-bias education program on May 29. The company will close all of its 8,000 company-owned restaurants in the U.S. during the afternoon to address implicit bias, promote inclusion and help prevent discrimination.

  • Impossible Foods chooses HK to go global

    Impossible Foods chooses HK to go global

    The Impossible Foods is launching its award-winning plant-based meat in Hong Kong at some of the city’s most beloved restaurants: Little Bao, Happy Paradise, and Beef & Liberty.

    Started in 2011 by Stanford biochemistry professor and former pediatrician Dr. Patrick O. Brown, Impossible Foods makes meat, fish and dairy directly from plants — with a much smaller environmental footprint than those from animals.

    The company uses modern science and technology to create wholesome food, restore natural ecosystems and sustainably feed a growing global population.

    Ranked one of the world’s top culinary hotspots by Conde Nast Traveler, Hong Kong is the first place outside of the United States to feature the Impossible Burger, which cooks, smells and tastes like ground beef from cows but is made entirely from plants.

    The Impossible Burger is served in more than 1,400 outlets in the United States — from award-winning restaurants to mom-and-pop diners to the nation’s original fast-food chain, White Castle. The vast majority of these restaurants serve the Impossible Burger on a bun with traditional condiments and sides. Starting tomorrow in Hong Kong, diners will be able to try the product as a traditional burger — and as the central filling of savory street food.

    “We’re humbled to launch with spectacular chefs in one of the world’s most dynamic restaurant hotspots,” said Brown, CEO and Founder of Impossible Foods. “We’re confident that Hong Kong — Asia’s crossroads of ideas and influences, both modern and traditional — will be home to the most innovative Impossible recipes yet.”

    Chef May Chow’s Little Bao and Happy Paradise will be among the first to serve the Impossible in Hong Kong, and with a local Cantonese twist. While Chef Uwe Opocensky’s Beef & Liberty becomes the first burger chain outside the United States to serve the Impossible Burger.

    Chef May Chow, named Asia’s Best Female Chef in 2017 by The World’s 50 Best Restaurant awards, heads Little Bao and Happy Paradise — 21st century takes on traditional Cantonese diners.

    Chow is a Toronto native who trained and worked in Bangkok, Los Angeles and Boston. She gained fame in Hong Kong’s renowned street food markets and helped to transform Hong Kong into a foodie destination. Chow has also represented Hong Kong at food festivals such as “Omnivore” in Paris and Shanghai.

    Starting tomorrow at Little Bao, Chow and her team will serve the “Impossible Bao,” a traditional sandwich made with Impossible meat, black pepper teriyaki sauce, salted lemon kombu salad, and fermented tofu sauce, between two house-made steamed buns — on menu for 118 HK$. The “Impossible XinJiang Hot Pocket” — another popular Chinese street snack — will debut at Happy Paradise, served with pickled daikon and XinJiang spices, for 88 HK$.

    “Hong Kongers demand to be on the bleeding edge of global culinary trends,” Chow said. “The Impossible Burger is delicious, versatile and perfectly timed to take this city’s world-class restaurant scene by storm.”

    Another award-winning chef in Hong Kong, Uwe Opocensky earned his culinary reputation working in restaurants such as Spain’s El Bulli, voted the best restaurant in the world. He recently spent a decade as Executive Chef at Hong Kong’s Mandarin Oriental — considered one of the city’s finest establishments — overseeing 10 restaurants and bars and collecting Michelin Stars in three of the venues.

    He left the hotel in 2016 to join Beef & Liberty as Group Executive Chef, now lauded as Hong Kong and Shanghai’s best hamburger, and is also chef at his own restaurant Uwe. The seven restaurant group is a modern homage to 18th century “beefsteak clubs,” reincarnated for modern tastes with a focus on natural ingredients and sustainable operations. Popular with both natives and expats, Beef & Liberty uses only hormone- and antibiotic-free beef from the Scottish Highlands — ground in-house — and also purifies and carbonates its own drinking water to reduce the amount of water imported (and glass bottles wasted) into Hong Kong.

    Beef & Liberty will serve the “Impossible Thai Burger,” with chilli, coriander, mint, basil, spring onion, soya mayonnaise, crispy shallots and garlic, for 135 HK$. The restaurant group will also feature “Impossible Chili Cheese Fries,” with chili, cheddar cheese, spring onion and sour cream over their “Liberty” fries, for 62 HK$.

    “We are obsessed, in a good way, with burgers and doing what we can for the environment. We love the way that the Impossible Burger has created new excitement in the global burger scene and opportunities to be more sustainable,” said Beef & Liberty’s Executive Chef, Uwe Opocensky. “We’re positive that our guests are going to love the Impossible and feel good about eating it at the same time.”

    Starting today, the Impossible will be available in Hong Kong on a limited and exclusive basis through Classic Fine Foods — Asia’s leading importer and distributor of fine foods. The group specialises in sourcing, importation, storage, marketing and distribution, and has been operating throughout Asia and Europe since 2001.

    In development since 2011, the Impossible Burger debuted in July 2016 at Chef David Chang’s Momofuku Nishi in Manhattan. The Impossible Burger is the only plant-based burger to win a 2017 Tasty Award and a 2018 Fabi Award from the National Restaurant Association.

    In addition to the American fast-food chain White Castle, The Impossible Burger is the only plant-based burger featured in America’s most beloved “better burger” concepts Fatburger, Umami Burger, Hopdoddy, The Counter, Gott’s and B Spot, the Midwest burger restaurant owned by Chef Michael Symon.

    The Impossible Burger is made from simple ingredients, including water, wheat protein, potato protein and coconut oil. One special ingredient — heme — contributes to the characteristic taste of meat and is the essential catalyst for all the other flavors when meat is cooked. Heme is an essential molecular building block of life, one of nature’s most ubiquitous molecules. Although it’s found in all living things and in virtually all the food we eat, it’s especially abundant in animal tissues. Impossible scientists discovered that it’s the abundance of heme in animal tissues that makes meat taste like meat.

    To satisfy the global demand for meat at a fraction of the environmental impact, Impossible Foods developed a far more sustainable, scalable and affordable way to make heme and therefore meat, without the catastrophic environmental impact of livestock. The company genetically engineers and ferments yeast to produce a heme protein naturally found in plants, called soy leghemoglobin.

    The heme in the Impossible Burger is identical to the essential heme humans have been consuming for hundreds of thousands of years in meat — and while it delivers all the craveable depth of beef, it uses far fewer resources.

    The Impossible Burger is produced without slaughterhouses, hormones, antibiotics, cholesterol or artificial flavors. It uses about 75% less water, generates about 87% fewer greenhouse gases, and requires around 95% less land than conventional ground beef from cows.

  • Del Monte seeks to raise up to $333m via IPO

    Del Monte seeks to raise up to $333m via IPO

    Del Monte Philippines Inc, the wholly-owned Philippine subsidiary of global branded food and beverage firm Del Monte Pacific Limited, has received approval from the Securities and Exchange Commission (SEC) to raise up to P17.55 billion (about $333 million) via an initial public offering (IPO).

    This would mark the second IPO in the Philippines so far this year following the approval by the SEC of the IPO application of construction and property developer DM Wenceslao early this month. The Philippine Stock Exchange (PSE) is still optimistic of having eight IPOs in the entire year.

    In a statement released on Thursday, the SEC said it has approved Del Monte’s IPO, which involves 587.437 million secondary shares to be sold at P29.88 ($0.57) per share. This represents 21 per cent of the firm’s outstanding capital stock.

    “The company will not directly receive any net proceeds from the offer… no amount of the proceeds will be used to reimburse any officer, director, employee for services rendered, assets previously transferred, money loaned or advanced, or otherwise,” the country’s corporate regulator said.

    Del Monte Pacific earlier said it intends to use the proceeds from the offer to partially prepay or repay certain loan facilities.

    “The balance of proceeds, if any, will be used for general corporate purposes. The prepayment of such loans will allow the Del Monte Pacific Limited Group to deleverage and strengthen its balance sheet,” Del Monte Pacific said.

    According to the SEC document, about 70 per cent of the offer shares is earmarked to be sold to domestic investors, while the remaining 30 per cent will be sold to foreign institutional and retail investors.

    Del Monte Philippines is engaged in the production and sale of food and beverage products – such as fruit juices and juice drinks, packaged pineapple and mixed fruit, various tomato, spaghetti sauces and culinary mixes – in the Philippines under the Del Monte brand and exports these products under the S&W brand.

    It also operates one of the world’s largest fully-integrated pineapple operations and has been growing and processing pineapple for over 90 years.

    The PSE expressed confidence that at least eight IPOs will be conducted this year even as only two firms have filed IPO applications with the SEC so far – Del Monte and DM Wenceslao.

    The PSE posted a net income of Php825 million ($16 million) for the full-year 2017, an increase of 18 per cent from the Php702 million it generated in 2016, according to the unaudited consolidated financial statement posted on its website.