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.

  • Vietnam’s Coffee Exports Skyrocket, Set to Surpass $8B in 2025 Thanks to Quality Boost and Market Expansion

    Vietnam’s Coffee Exports Skyrocket, Set to Surpass $8B in 2025 Thanks to Quality Boost and Market Expansion

    The Vietnam Coffee-Cocoa Association has recently projected that coffee exports for this year could greatly exceed expectations, potentially reaching over US$8 billion. This is a substantial increase from the previously set target of $6 billion for 2030. The association attributes this optimistic forecast to three primary factors, namely enhanced product quality, an increased proportion of processed products, and strategic long-term market expansion.

    According to the Ministry of Agriculture and Environment, Vietnam’s coffee exports in the first ten months of this year amounted to 1.3 million tonnes, bringing in $7.41 billion. This indicates a remarkable growth of 61.8% compared to the same period last year. Notably, shipments to several markets, including Mexico, experienced exceptional growth. Specifically, exports to Mexico increased by a factor of 34.7.

    The average export price of coffee also saw a significant increase, reaching $5,653 per tonne, a 42.5% surge from the previous year. The association cited that the low coffee prices prior to 2020 resulted in farmers reducing their plantations, thereby decreasing the overall supply. Conversely, businesses have increased their investments in sustainable production chains to enhance quality in compliance with international standards.

    The tight global supply paired with the continued rise in demand led to a spike in coffee prices, propelling export revenue to unprecedented levels. The Association went further to analyze that free trade agreements, particularly the EU-Vietnam Free Trade Agreement (EVFTA), have encouraged both businesses and farmers to adjust their practices to meet stricter emission and quality standards.

    This year saw the coffee industry develop a comprehensive ecosystem focused on responsible production, ranging from raw-material sourcing to processing. This move is expected to pave the way for sustainable growth in the years to come.

    Questions & Answers

    What led to the surge in Vietnam’s coffee exports?
    Enhanced product quality, an increased proportion of processed products, and strategic long-term market expansion are major factors that have contributed to the surge in Vietnam’s coffee exports.

    How have free trade agreements impacted the coffee industry in Vietnam?
    Free trade agreements, specifically the EU-Vietnam Free Trade Agreement (EVFTA), have encouraged businesses and farmers in Vietnam to adjust their practices to conform to stricter emission and quality standards.

    What steps have been taken towards sustainable growth in Vietnam’s coffee industry?
    The industry has developed a comprehensive ecosystem focused on responsible production, which spans from raw-material sourcing to processing. This is a strategic move towards achieving sustainable growth in the future.

  • Dairy Queen’s Exciting Expansion: 187 New Restaurants to Debut in Asia and Middle East

    Dairy Queen’s Exciting Expansion: 187 New Restaurants to Debut in Asia and Middle East

    Dairy Queen, a renowned international fast-food chain, is accelerating its global growth strategy with ambitious plans to establish 187 new outlets across Asia and the Middle East. This move signals one of the company’s most aggressive international growth initiatives in recent times.

    Breaking New Ground

    The company has inked fresh development agreements, marking its entry into Hong Kong, Macau, and Taiwan. It is an unprecedented move that not only establishes its presence in these regions for the first time but also bolsters its existing operations in the Middle East.

    Shanghai Dairy Queen Limited, a significant player in the company’s expansion, is managing the introduction of the brand into Hong Kong and Macau. The plan outlines the opening of 60 and 12 outlets in these locations, respectively.

    Partnerships and Expansion

    In Taiwan, an entirely new territory for the brand, Dairy Queen has formed a strategic alliance with SFB Corporation Limited and Shanghai Dairy Queen Limited. The partnership aims to launch 100 restaurants over the next decade, commencing with a grand market debut at Taipei 101 on November 18.

    In the Middle East, the company’s long-standing franchisee, Al-Majid Jawad WLL, is set to add 15 new restaurants in Qatar by 2030, expanding its total footprint in the region to 25 locations. The company anticipates the initial wave of these new Dairy Queen outlets to begin operations next year.

    A Strategic Move

    Nicolas Boudet, COO International at International Dairy Queen, underscored the importance of entering new markets and reinforcing existing ones as a critical aspect of the company’s growth strategy.

    “We’re thrilled to expand our global footprint with the aid of experienced franchise ownership groups,” said Boudet. “These groups are committed to running successful restaurants with teams dedicated to fulfilling our mission of creating positive memories for everyone who comes into contact with Dairy Queen.”

    Dairy Queen, which was established in 1940 and is now a subsidiary of Berkshire Hathaway, currently operates more than 7,700 restaurants worldwide.

    Questions & Answers

    What are Dairy Queen’s expansion plans in Asia and the Middle East?
    Dairy Queen plans to open 187 new restaurants across Asia and the Middle East. This includes establishing a presence in Hong Kong, Macau, and Taiwan for the first time.

    Who are Dairy Queen’s partners in their expansion into Taiwan?
    Dairy Queen has partnered with SFB Corporation Limited and Shanghai Dairy Queen Limited to launch 100 restaurants in Taiwan over the next ten years.

    How many Dairy Queen restaurants are there worldwide?
    Dairy Queen currently operates more than 7,700 restaurants worldwide.

  • Australian Kensington Pride Mangoes Skyrocket in Vietnam: 7.5 Times Costlier than Local Produce

    Australian Kensington Pride Mangoes Skyrocket in Vietnam: 7.5 Times Costlier than Local Produce

    Kensington Pride mangoes, originally from Australia, have been on sale in Vietnam at an astounding price — VND600,000 (US$22.8) per kilogram, which is 7.5 times more than the price of the local variety. A store owner in Dinh Bo Linh Street, located within the Binh Thanh Ward of Ho Chi Minh City (HCMC), revealed that a seven-kilogram box of these mangoes could bring in a whopping VND 3.7 million.

    Importing Exotic Fruits

    The store owner started importing these mangoes just recently, in late October, and has been conservatively buying only five boxes at a time due to the steep costs of transportation and storage. The Kensington Pride mangoes are characterized by their weight, approximately 500-600 grams per fruit, and their firm flesh and high sugar content that accounts for their exceptional sweetness.

    Similarly, an employee from a store in Hanoi’s West Lake region, which also sells the fruit at the same high price, mentioned that these mangoes need to be kept chilled at all times, which further adds to their cost.

    The Allure of Australian Mangoes

    The Australian mango variety, known for its brilliant golden flesh and gentle aroma, is primarily imported to Vietnam via air. It is also widely cultivated in the Mekong Delta region, specifically in the Tien Giang and Dong Thap provinces along with the Can Tho city. The locally grown variety is sold for VND20,000-25,000 per kilogram at the farm gate and VND80,000 at retail stores.

    In Australia, these mangoes flourish in dry climate regions like certain parts of Queensland and the Northern Territory. The harvest typically happens between October and December. Major Australian supermarkets such as Woolworths, Coles, and Harris Farm usually sell these mangoes for $6.7-8 per kilogram.

    Surge in Fruit and Vegetable Imports

    According to statistics from the customs department, the import of fruits and vegetables from Australia to Vietnam surpassed $100 million in the first nine months of this year, marking a 27% increase from the previous year. Mangoes, followed by cherries, grapes, mandarins, and oranges were the most imported items, each carrying a hefty price tag in Vietnam.

    Questions & Answers

    Why are Kensington Pride mangoes so expensive in Vietnam?
    The high cost is due to the import and cold storage charges, which makes the fruit more expensive than the local variety.

    What makes Kensington Pride mangoes different from other varieties?
    These mangoes are known for their bright golden flesh, mild aroma, and a distinct sweetness. They are also larger in size, weighing approximately 500-600 grams per fruit.

    Which fruits are the most imported from Australia to Vietnam?
    Mangoes top the list, followed by cherries, grapes, mandarins, and oranges. They all carry a high price tag in Vietnam due to import costs.

  • Highlands Coffee Brews Up Success with Record 17% Earnings Jump in Q3

    Highlands Coffee Brews Up Success with Record 17% Earnings Jump in Q3

    Highlands Coffee, the biggest coffeehouse chain in Vietnam, noted an earnings before interest, taxes, depreciation and amortization (EBITDA) of 666 million Philippine pesos, equivalent to US$11.3 million, for the third quarter. This demonstrates a 17.1% growth compared to the same period last year and is the highest quarterly EBITDA since Q3 2023 when Jollibee Foods Corporation, its parent company, started releasing its financial data separately.

    Contribution to Parent Company’s Earnings

    The Vietnamese coffee brand contributed about 6.1% to the total EBITDA of Jollibee Foods Corporation, which is based in the Philippines. Moreover, it made up 29% of the corporation’s coffee and tea sector. Sales at locations that have been in operation for a minimum of 15 months saw a 17.2% increase.

    The EBITDA of Highlands Coffee for the first three quarters of 2025 experienced a 9.5% rise, amounting to 1.9 billion Philippine pesos.

    Chain Expansion

    The coffee chain operates 928 branches both domestically and internationally, 109 of which were inaugurated within the first nine months of the year. Originally established in 1999 as a packaged coffee vendor in Hanoi, the business transitioned into the coffeehouse industry in 2002 with its pioneer branch in Ho Chi Minh City. The chain was later acquired by Jollibee Foods Corporation in 2012.

    Business Strategy

    David Thai, the founder and CEO, acknowledged earlier this year that the coffee chain has witnessed positive outcomes due to its business model, customer-centric approach, and well-defined positioning in terms of products, pricing, and taste. The company streamlined its operations and expanded methodically. Moreover, the firm primarily focuses on enhancing its flavor profiles before investing in marketing efforts.

    Highlands Coffee is planning to go public in Vietnam, Thai confirmed, although a specific timeline was not provided. Industry analysts and securities agencies forecast that it will likely be listed in 2026-2027, coinciding with an anticipated wave of initial public offerings.

    Vietnamese F&B Market

    In the first half of the current year, the food and beverage sector in Vietnam generated VND406.1 trillion, equivalent to US$15.4 billion in revenues, a slight increase from the VND403.9 trillion recorded a year earlier, as stated by digital management solution provider iPOS.

    Despite major holidays such as the Lunar New Year in February and the Reunification Day at the end of April not boosting sales as expected, Vietnamese consumers seem to be maintaining their F&B expenditures. However, the report also indicated that the number of F&B locations is dwindling and the market is heading towards intense competition.

    Questions & Answers

    What is the current contribution of Highlands Coffee to Jollibee Foods Corporation’s total EBITDA?
    Highlands Coffee contributes approximately 6.1% to Jollibee Foods Corporation’s total EBITDA.

    What is the business strategy of Highlands Coffee according to its CEO, David Thai?
    The business strategy of Highlands Coffee is based on its unique business model, customer-centric approach, and distinctive positioning in terms of products, pricing, and taste. The company prioritizes developing its flavor profiles before allocating resources to marketing.

    What is the projected timeline for Highlands Coffee to go public in Vietnam?
    Securities firms and analysts predict that Highlands Coffee will go public in Vietnam between 2026 and 2027.

  • Savor the Flavor: Gelatissimo and Pistachio Papi Unveil Limited Edition Gelato Twists

    Savor the Flavor: Gelatissimo and Pistachio Papi Unveil Limited Edition Gelato Twists

    Gelatissimo, the popular gelato brand, has joined forces with Pistachio Papi, a renowned pistachio spread manufacturer, to launch two unique, limited-edition gelato flavours for their customers across the country.

    Pistachio Papi’s Unique Flavours

    This collaboration brings forth Pistachio Papi White Chocolate and Pistachio Papi Raspberry Cheesecake, two distinctive flavours which will be available for a limited period at all 57 Gelatissimo outlets nationwide.

    The Pistachio Papi White Chocolate flavour is a unique blend of pistachio and salted white chocolate gelato, enriched with roasted pistachios and a layer of Pistachio Papi spread. This combination offers a delightful fusion of creamy sweetness and the distinctive crunch of pistachios.

    On the other hand, the Pistachio Papi Raspberry Cheesecake features a delicious raspberry cheesecake gelato, complemented by an oat crumble and pistachio spread. The result is a textured, nutty finish that delivers a unique taste experience.

    Striving for Bold Flavours

    Gelatissimo is well-known for its dedicated team of flavour enthusiasts, who are continuously exploring new possibilities to bring innovative gelato experiences to Australian consumers. According to Jeremy Roth, CEO of Gelatissimo, partnering with Pistachio Papi was an ideal opportunity to create something unique and exciting.

    Moreover, Gelatissimo made significant strides in 2022 by venturing into the Fast-Moving Consumer Goods (FMCG) sector. They made their FMCG debut by launching five of their top-selling flavours in tubs at Coles supermarkets throughout the country.

    Questions & Answers

    What unique flavours has Gelatissimo introduced in their recent collaboration with Pistachio Papi?
    Gelatissimo, in collaboration with Pistachio Papi, has introduced Pistachio Papi White Chocolate and Pistachio Papi Raspberry Cheesecake.

    What is unique about the Pistachio Papi White Chocolate flavour?
    The Pistachio Papi White Chocolate flavour is a unique blend of pistachio and salted white chocolate gelato, enriched with roasted pistachios and a layer of Pistachio Papi spread.

    What are some of the recent achievements of Gelatissimo in 2022?
    In 2022, Gelatissimo ventured into the Fast-Moving Consumer Goods (FMCG) sector by launching five of their top-selling flavours in tubs at Coles supermarkets throughout the country.

  • Philippine Sensation Mary Grace Cafe Set to Debut in Singapore: A Milestone in Global Expansion

    Philippine Sensation Mary Grace Cafe Set to Debut in Singapore: A Milestone in Global Expansion

    The popular food and beverage chain from the Philippines, Mary Grace Cafe, is set to establish its inaugural full-service cafe in Singapore in the coming year. This expansion represents the brand’s initial venture into international markets.

    Mary Grace Cafe was established in 2006 and has since flourished, boasting over 140 cafes and kiosks scattered throughout the Philippines. The brand is renowned for its inviting and cozy store design, reminiscent of a homely atmosphere.

    The Singapore branch’s menu will showcase the brand’s beloved culinary offerings. Customers can expect to enjoy hot chocolate, ensaymadas, cheese rolls, and a variety of traditional Filipino dishes like tapsilog and Vigan longganisa sandwiches.

    For Mary Grace Dimacali, the founder, president, and CEO of the brand, the expansion signifies not just a business milestone but also a personal achievement. She reflected on her humble beginnings when she first started baking in her home kitchen, admitting that she never anticipated the brand would extend its reach beyond the Philippines.

    Questions & Answers

    What is Mary Grace Cafe?
    Mary Grace Cafe is a well-known food and beverage chain from the Philippines, noted for its warm, home-style store design.

    What new venture is Mary Grace Cafe embarking on?
    Mary Grace Cafe is preparing to launch its first full-service cafe in Singapore next year, marking its debut in overseas markets.

    What are some signature items on the Mary Grace Cafe menu?
    The menu of Mary Grace Cafe features items such as hot chocolate, ensaymadas, cheese rolls, and traditional Filipino dishes like tapsilog and Vigan longganisa sandwiches.

  • Explosive Growth: Luckin Coffee Revenue Skyrockets by 50% as 3,000 New Stores Open Worldwide

    Explosive Growth: Luckin Coffee Revenue Skyrockets by 50% as 3,000 New Stores Open Worldwide

    In the third quarter, China’s Luckin Coffee Inc. experienced a significant revenue boost, supported by an impressive number of new store openings. The chain saw its total net revenue surge by 50.2% year-on-year to RMB15.287 billion (US$2.14 billion) by the end of September. This boost primarily resulted from an increase of 48.1% in gross merchandise value, following a 47% growth in the second quarter.

    Store Expansion and Revenue Boost

    Luckin Coffee Inc. added 3008 new outlets to its chain during the third quarter, including 2979 stores in China, five in Singapore, 21 in Malaysia and three in the United States. This growth brought the total number of stores up to 29,214, comprising 18,882 self-operated stores and 10,332 partnership locations.

    The coffeeshop chain saw same-store sales in self-operated outlets rise by 14.4%, while the number of average monthly transacting customers grew by a substantial 40.6%.

    A Successful Strategy

    Jinyi Guo, Luckin’s co-founder and CEO, credited the company’s positive performance to its strategy of scale expansion. He noted that the expanding store network had improved the chain’s fulfilment capabilities, allowing it to meet growing customer demand successfully. The company also reached a significant milestone, surpassing 100 million average monthly transacting customers for the first time. According to Guo, these achievements further solidified Luckin’s competitive edge and market leadership position.

    While the company’s operating income grew by 12.9% to RMB1.776 billion, there was a slight decrease of 2.7% in net income, which totaled RMB1.278 billion.

    Questions & Answers

    What was the total net revenue of Luckin Coffee Inc. in the third quarter?
    The total net revenue of Luckin Coffee Inc. in the third quarter was RMB15.287 billion (US$2.14 billion).

    How many new stores did Luckin Coffee Inc. open in the third quarter?
    Luckin Coffee Inc. opened 3008 new stores in the third quarter.

    What was the growth rate of average monthly transacting customers for Luckin Coffee Inc.?
    The number of average monthly transacting customers for Luckin Coffee Inc. grew by 40.6%.

  • New Zealand Grapples with Skyrocketing Cheese Prices Amid Rising Food Inflation

    New Zealand Grapples with Skyrocketing Cheese Prices Amid Rising Food Inflation

    Over the past year, food prices in New Zealand have witnessed a substantial rise of 4.7%, an increase from the 4.1% rise recorded in September, as reported by Stats NZ.

    Significant Rise in Grocery Prices

    The hike in food prices has been particularly noticeable in grocery items. A significant 25.5% increase was observed in the price of instant coffee, with an average price of NZ$7.88 (A$6.85) per 100 grams. The price of a 1kg block of cheese also reflected a 30.1% surge, costing $12.71 ($11.05).

    The highest rise was seen in the cost of grocery foods, with an annual increase of 4.9%. This was closely followed by the cost of meats, poultry, and fish, which rose by 7.6%.

    Heightened Dairy and Poultry Prices

    Stats NZ, the national statistical agency, provided additional data on the prices of dairy and poultry products. The average price of a two-litre bottle of milk rose by 13.5% over the year, reaching a price of $4.78 ($4.16).

    Similarly, the cost of a dozen fresh eggs also saw a significant annual increase of 18.5%, with the average price being $9.88 ($8.60).

    Questions & Answers

    What was the overall increase in food prices in New Zealand over the past year?
    Over the past year, there was an overall increase of 4.7% in food prices in New Zealand.

    Which food categories witnessed the highest price increases?
    Grocery food costs saw the highest increase at 4.9%, followed by meats, poultry, and fish prices, which increased by 7.6%.

    What was the price increase for dairy and poultry products?
    The average price of a two-litre bottle of milk increased by 13.5%, while the cost of a dozen fresh eggs saw an 18.5% increase annually.

  • Goldman Sachs in Exclusive Talks for $452M Acquisition of Burger King Japan

    Goldman Sachs in Exclusive Talks for $452M Acquisition of Burger King Japan

    Goldman Sachs is reportedly in exclusive negotiations to acquire the Japan operations of Burger King from Hong Kong-based private equity firm, Affinity Equity Partners.

    The transaction is speculated to be worth around 70 billion yen (approximately US$452 million). Goldman Sachs is allegedly preparing to acquire BK Japan Holdings. The latter entity currently operates approximately 310 Burger King locations throughout Japan.

    BK Japan has ambitious plans to expand its footprint. By the end of 2028, the company aims to have established a total of 600 Burger King branches within the country. This represents a substantial growth, considering that the company had only 77 stores in 2019.

    Burger King’s journey in Japan has seen its fair share of highs and lows. The brand initially penetrated the market in the 1990s, only to withdraw in 2001 due to poor performance. However, it made a comeback in 2007 via a franchise partnership led by South Korea’s Lotte Group and Japan’s Revamp. The operations were subsequently handed over to Lotteria, a subsidiary of Lotte, in 2010.

    Questions & Answers

    What is the reported value of the acquisition deal between Goldman Sachs and Burger King’s Japan operations?
    The deal is reportedly worth around 70 billion yen (approximately US$452 million).

    How many Burger King outlets does BK Japan Holdings currently operate?
    BK Japan Holdings currently operates approximately 310 Burger King locations throughout Japan.

    What are BK Japan’s expansion plans?
    BK Japan aims to establish a total of 600 Burger King branches within the country by the end of 2028.

  • A2 Milk Amplifies China Connection: Targets Growth in English-Label Infant Formula Sales

    A2 Milk Amplifies China Connection: Targets Growth in English-Label Infant Formula Sales

    A2 Milk, a renowned dairy company, has expanded its enduring alliance with China State Farm Agribusiness Holding Shanghai Co (CSFA), with the inclusion of English-label (EL) infant formula within the cross-border e-commerce realm.

    Introducing A2 Genesis Product

    The initial focus of the rollout will be on the A2 Genesis product, a premium item in their line-up. Subsequently, other EL formulas, like A2 Platinum, will also be introduced to the market.

    New Agreement Enhances Distribution and Confidence

    In the newly ratified agreement, CSFA will now function as the sole import agent and principal distributor for EL products. This strategic move will allow A2 Milk to improve logistics, strengthen its retail footprint, and utilize the reputation of the state-owned enterprise to reinforce consumer confidence.

    Targeting the HMO Segment

    A2 Genesis was launched in the latter half of this year. This new product targets the rapidly expanding human-milk-oligosaccharide (HMO) sector, with a specific focus on gut health and immunity.

    David Bortolussi, CEO of A2 Milk, described this development as a pivotal component in the company’s China strategy. Meanwhile, Zhang Lei, Chairman of CSFA, portrayed this arrangement as a benchmark of successful collaboration in the dairy nutrition field.

    Expanded Agreement and Recent Acquisition

    The augmented agreement was officially established at the China International Import Expo in Shanghai, after a year of diligent preparation.

    Additionally, in September, A2 Milk successfully concluded its purchase of Yashili New Zealand’s Pokeno nutritional manufacturing facility for $282 million from China’s Mengniu Dairy Group.

    Questions & Answers

    What is the primary focus of A2 Milk’s initial rollout with CSFA?
    The primary focus of the initial rollout will be the premium A2 Genesis product, which targets the rapidly growing HMO sector, with an emphasis on gut health and immunity.

    What is the role of CSFA under the new agreement with A2 Milk?
    Under the new agreement, CSFA will function as the exclusive import agent and principal distributor for EL products, which will help A2 Milk streamline logistics, expand its retail presence, and build consumer confidence.

    What significant acquisition did A2 Milk make recently?
    In September, A2 Milk completed the acquisition of Yashili New Zealand’s Pokeno nutritional manufacturing facility for $282 million from China’s Mengniu Dairy Group.

  • South Korean Cafe Giant ‘A Twosome Place’ Readies for Sweet US Debut

    South Korean Cafe Giant ‘A Twosome Place’ Readies for Sweet US Debut

    Renowned South Korean café chain, A Twosome Place, is gearing up to launch its first company-owned branch in the United States in the coming year. This move signifies a re-energized push for international expansion, following the café’s exit from the Chinese market three years prior.

    Global Expansion Strategy

    While the exact location and timeline for the U.S. launch have not yet been disclosed, it is clear that this move is part of A Twosome Place’s comprehensive strategy to disseminate Korean-style café culture worldwide.

    A Twosome Place, established in 2002, currently operates over 1700 outlets across South Korea, and is recognized for its exceptional dessert offerings. The chain embarked on franchising in 2008 and was later purchased by The Carlyle Group in 2021.

    Domestic Developments

    On the domestic front, A Twosome Place is introducing the ‘Twosome 2.0’ concept: a high-end store design that is being implemented in key districts of Seoul. There are plans already underway to propagate this concept nationally, while infusing new elements into pre-existing stores.

    The café chain retreated from the Chinese market after shuttering over 40 outlets in 2022, which came as a result of a sustained period of lackluster sales in the region.

    Questions & Answers

    What is the significance of A Twosome Place’s expansion into the U.S.?
    The planned move to open a branch in the U.S. is part of A Twosome Place’s wider strategy to introduce Korean-style café culture to international markets.

    What is ‘Twosome 2.0’, the concept A Twosome Place is implementing domestically?
    ‘Twosome 2.0’ is a new store design concept that provides a premium aesthetic. The company plans to implement this design across their stores in South Korea.

    Why did A Twosome Place withdraw from the Chinese market?
    A Twosome Place withdrew from China after experiencing several years of slow sales, leading to the closure of more than 40 stores in 2022.

  • Burger King China’s Explosive Expansion: $350M Investment Fuels Rise to 4000 Outlets by 2035

    Burger King China’s Explosive Expansion: $350M Investment Fuels Rise to 4000 Outlets by 2035

    Restaurant Brands International (RBI) has recently confirmed a $350 million investment deal toward their Burger King China operation via a newly formed partnership with Chinese alternative asset manager, CPE. With a well-established reputation for scaling consumer brands within the Chinese markets, CPE’s primary investment will facilitate expansion, marketing, menu innovation, and operations for Burger King’s restaurants across China.

    Joint Venture Objectives

    This joint venture is targeting to more than triple the current Burger King presence in China, from approximately 1250 restaurants to a projected 4000 by the year 2035. Joshua Kobza, CEO of RBI, highlighted the significance of this partnership, recognizing China as “one of the most exciting long-term opportunities for Burger King globally.” The recent investments and newly formed joint venture underscore their confidence in the Chinese market.

    Additionally, Kobza emphasized the potential benefits of this partnership, noting how combining the iconic Burger King brand and RBI’s global scaling abilities with CPE’s local market knowledge and operational expertise can unlock the business’s full potential in China.

    Ownership and Development Agreement

    The completion of this transaction, which is anticipated for the first quarter of next year, will result in CPE owning approximately 83% of Burger King China, leaving RBI with an ownership stake of approximately 17%.

    Further to the partnership, a wholly-owned affiliate of Burger King China will sign a 20-year master development agreement. This will grant the affiliate exclusive rights to develop the Burger King brand within the Chinese market.

    Strategic Alignment and Previous Investments

    This joint venture aligns with RBI’s broader strategy of pairing with experienced local operators and investors to drive profitable growth. This approach, while maintaining a primarily franchised business model globally, is aiming for a net restaurant growth of 5% or more by the end of the 2024-2028 outlook period.

    This recent partnership follows an earlier transaction in February, where RBI purchased stakes in Burger King China from its local franchisee for an estimated $158 million.

    Questions & Answers

    What is the purpose of the joint venture between RBI and CPE?
    The joint venture aims at expanding Burger King’s presence in China from about 1250 to over 4000 restaurants by 2035.

    What will be the ownership split of Burger King China after the transaction?
    Once the transaction is completed, CPE will own approximately 83% of Burger King China, while RBI will hold an estimated 17%.

    What are the terms of the development agreement?
    A wholly-owned affiliate of Burger King China will sign a 20-year master development agreement, which grants the affiliate exclusive rights to develop the Burger King brand in China.

  • Vietnam’s Fruit Exports Skyrocket to $4.06B in China: Durian and Banana Leading the Charge

    Vietnam’s Fruit Exports Skyrocket to $4.06B in China: Durian and Banana Leading the Charge

    In the first three quarters of 2025, Vietnam set a new export record, shipping out fruits and vegetables worth US$4.06 billion to China, marking a 19% increase in comparison to the previous year. This growth was largely driven by the export of durian and banana.

    Vietnam’s Market Share in China

    According to the data from Chinese customs, these exports accounted for 20% of China’s total fruit and vegetable imports, marking an increase from 17.9% a year earlier. Durian was the leading export product, with shipments valued at $2.3 billion. The average export price per ton was $3,696, which is 14-15% less than that of Thai durian. This fact has positioned Vietnam as the second-largest exporter of this fruit to China, preceded only by Thailand.

    The Popularity of Vietnamese Bananas

    Bananas were another significant export product, with shipments totaling $232 million, a 16% annual increase. With an average price of $409 per ton, Vietnamese bananas were considerably less expensive than those from the Philippines and Ecuador, which cost $589 and $757 respectively. This has made Vietnamese bananas a favorite among Chinese importers, particularly in border provinces such as Guangxi and Guangdong, where consumers value fresh, affordable, and high-quality products.

    China’s Fruit and Vegetable Imports

    Chinese imports of fruits and vegetables amounted to nearly $20.3 billion in the first nine months of 2025. Thailand was the leading supplier, with its exports to China accounting for $6.7 billion, representing a yearly increase of 10% and a 33% share of the market.

    Vietnam’s Export Strategy

    Dang Phuc Nguyen, the general secretary of the Vietnam Fruits & Vegetables Association, noted that Vietnamese exporters benefit from the close geographical proximity to China, resulting in lower transportation durations and costs. A representative from an exporter in Can Tho, a major durian producer, confirmed this, stating that this advantage enables them to maintain the freshness and quality of the fruit while cutting shipping costs by half compared to their Thai competitors.

    Free trade agreements, like ASEAN-China and RCEP, as well as bilateral quarantine protocols, have also facilitated exports. In response to China’s stricter import requirements, many Vietnamese businesses have improved their orchards and packaging lines and invested in cold storage facilities this year.

    Despite durians accounting for over half of Vietnam’s fruit and vegetable exports to China, export specialists have advised against over-reliance on a single product. To enhance its market share in China, they recommend that Vietnam diversify its products, improve storage technology, and adhere to quality standards.

    Questions & Answers

    What is the main fruit exported from Vietnam to China?
    Durian is the main fruit that Vietnam exports to China.

    How have Vietnamese businesses upgraded in response to China’s stricter import requirements?
    Vietnamese businesses have upgraded their orchards and packaging lines and invested in cold storage to meet China’s stricter import requirements.

    What are the recommendations for Vietnam to increase its market share in China?
    To increase its market share in China, Vietnam should diversify its products, improve its storage technology, and adhere to quality standards.

  • ZUS Coffee Backlash: Customer’s Viral Video of Coffeegate Sparks Nationwide Outrage in Malaysia

    ZUS Coffee Backlash: Customer’s Viral Video of Coffeegate Sparks Nationwide Outrage in Malaysia

    A recent incident involving a customer at a ZUS Coffee outlet, the largest coffee chain in Malaysia, has sparked outrage and controversy on social media. The customer’s aggressive behaviour, captured on video, has been widely shared, igniting conversations about customer service and workplace respect.

    The Viral Outburst

    The video, allegedly recorded at a ZUS Coffee outlet in Malaysia, reveals a heated exchange between a female customer and a female barista. In the footage, the barista can be heard instructing the customer, who is filming the incident, to leave the store. The customer, reacting aggressively to the request, retorts in Mandarin, “Why should I leave? I’ve already paid for my coffee!”

    In a display of anger, the customer knocks over a cup of coffee, splashing the contents across the counter and onto the barista’s hand. She then throws the cup at the employee. The barista, in response, tosses the empty cup back over the counter, barely missing the customer. The customer continues her tirade, hurling the cup directly at the employee, hitting her head, and unleashing a flurry of obscenities.

    While the video does not disclose what led to the altercation, sources have indicated that it may have been triggered by the customer’s dissatisfaction with the speed of the service.

    The Social Media Reaction

    News of the incident spread rapidly across social media platforms, eliciting support for the barista and prompting calls for ZUS Coffee to back their employee. Many social media users underlined the importance of a comprehensive investigation by the company and emphasised the need to protect local workers from abusive behaviour by foreign customers.

    One social media user, reflecting on the incident, commented, “I sincerely hope ZUS doesn’t let her go. Working in the retail sector is challenging enough without having to deal with difficult customers.”

    This incident has also sparked broader discussions about respect and treatment of staff in the retail and service industries. Some individuals have even threatened to boycott ZUS Coffee if the company remains silent or takes punitive measures against the barista, thereby applying pressure on the coffee chain to respond promptly.

    ZUS Coffee’s Response

    Responding to the incident, ZUS Coffee released a statement later the same day supporting the barista, referred to affectionately as a ‘Zurista’ within the company. The statement read, “Since the incident, we have initiated the necessary procedures to conduct a thorough investigation. We stand by our Zurista during this difficult time.”

    The statement continued, “Working in retail can be challenging, and the situation should never have escalated to the point it did. Ultimately, we’re all just human trying to do our best.”

    ZUS Coffee also urged the public to respect the employee’s privacy and to avoid disseminating false information online or offline while the investigation is ongoing. The coffee chain reiterated its intolerance of any disrespectful behaviour towards its communities and its commitment to creating a safe, respectful, and supportive environment for everyone.

    Questions & Answers

    What was the incident at a ZUS Coffee outlet in Malaysia?
    A female customer at a ZUS Coffee outlet in Malaysia was filmed throwing coffee and shouting obscenities at an employee, triggering a heated debate on social media about customer service and workplace respect.

    How has the public reacted to the incident?
    The incident has sparked strong reactions on social media, with many expressing support for the employee and calling for a thorough investigation by ZUS Coffee. Some individuals have threatened to boycott the coffee chain if it doesn’t take appropriate action.

    How has ZUS Coffee responded to the incident?
    ZUS Coffee has issued a statement supporting the employee, assuring that a comprehensive investigation is underway and urging public respect for the employee’s privacy. The coffee chain has also reiterated its commitment to a safe, respectful, and supportive working environment.

  • Bacardi and Coca-Cola Europacific Partners: Brewing Success in Australia with New Distribution Deal

    Bacardi and Coca-Cola Europacific Partners: Brewing Success in Australia with New Distribution Deal

    On November 3, Bacardi-Martini and Coca-Cola Europacific Partners (CCEP) initiated a multi-year partnership in Australia. This strategic alliance between the two beverage leaders aims to broaden their influence in the local drinks industry.

    The Partnership Details

    The partnership, first publicized in August, allows CCEP the responsibility of distributing an array of well-known brands. These encompass Bacardi rum, Bombay Sapphire gin, Grey Goose vodka, Patrón tequila, Dewar’s Scotch whisky, Angel’s Envy whiskey, and Martini vermouth. Simultaneously, Bacardi-Martini will continue to manage marketing and brand strategies.

    Luiz Schmidt, the Managing Director of Bacardi-Martini Australia, emphasized the importance of this collaboration. “Our brands are incredible with fantastic equity, but we acknowledge that to fully exploit their potential in Australia, we need to collaborate with an organization that possesses the necessary resources to put them in consumers’ hands nationwide,” he stated.

    Schmidt further stated that not only does CCEP have tremendous scale, but it also possesses proven industry expertise that can ensure long-term sustainable growth for both companies.

    Strengthening CCEP’s Market Position

    This agreement solidifies CCEP’s position as a key contender in the local premium drinks market and mirrors broader consolidation trends in beverage distribution.

    Orlando Rodriguez, the Managing Director of Australia Coca-Cola Europacific Partners, expressed his enthusiasm about the partnership and its potential. “The Bacardi portfolio is iconic, and we at CCEP have the track record of operational excellence to best support it,” Rodriguez stated.

    He added that both companies are eagerly anticipating the accomplishments they can achieve in the vibrant and expanding alcohol category.

    Questions & Answers

    What does the partnership between Bacardi-Martini and CCEP entail?
    The partnership allows CCEP to distribute Bacardi-Martini’s renowned brands across Australia, including Bacardi rum, Bombay Sapphire gin, among others, while Bacardi-Martini will continue managing marketing and brand strategies.

    How does the partnership affect CCEP’s position in the market?
    The agreement strengthens CCEP’s position as a leading player in the local premium drinks market and reflects broader consolidation trends in beverage distribution.

    What are the expected outcomes of this alliance?
    The Managing Directors of both Bacardi-Martini Australia and Coca-Cola Europacific Partners have expressed optimism about the potential growth and achievements this partnership can bring to the dynamic and expanding alcohol category in Australia.