Retail News CRM

Tag: Jumbo Group

  • IconSiam Bangkok due to open November 9

    IconSiam Bangkok due to open November 9

    Bangkok’s massive IconSiam development will open on November 9, its developers have confirmed.

    The US$1.67 billion complex being constructed on a 400-metre-long stretch of the Chao Phraya River will feature 14 flagship stores of internationally renowned brands, many of them taking space in the ultra-luxury 25,000sqm glass pavilion called IconLuxe, located next to the river and featuring the longest pillarless glass facade in the world.

    The development will be home to two shopping centres, whose tenants will include 188 brands and store concepts from around the world making their debut in Thailand, including duplex maisons for luxury brands.

    IconSiam CEO Supoj Chaiwatsirikul says IconSiam will represent “a completely new business model for destination development” in Thailand.

    “We are committed to making IconSiam a new national landmark and an exciting global destination. We have therefore placed particular emphasis on becoming the location of choice for the flagship stores of the world’s finest brands as well as introducing many firsts and innovations at the various outlets.”

    The development will comprise a 750,000sqm mega-destination featuring not only two shopping precincts, but theme parks, a museum, hotel and apartment towers.

    “IconSiam will excite visitors with a rich diversity of offerings, including art and culture, in addition to extraordinary dining and shopping possibilities,” said Chaiwatsirikul. “The project is co-designed and co-activated in collaboration with enterprises of all sizes and with people from all walks of life, and the benefits of the project are shared among all parties.

    “We have made every participant in IconSiam – whether they be outlets selling products, or designers and artists showcasing their creations, or even neighborhood communities helping in our operations – an inseparable part of our business model and they play a part in shaping our development.”

    Flagships line up

    Flagship stores at IconSiam will include the largest Adidas Original store in Asia, H&M-owned fashion label Cos, an Aland lifestyle concept store from Korea, and local accessories brand Naraya. H&M will open a three-level store.

    UK retailer JD Sports will open its first Thai store at the development and Nike’s store will be the first in Asia with a Kicks Lounge.

    The retail development is anchored by Thailand’s first Takashimaya department store from Japan which plans to introduce 170 brands into the market for the first time.

    Details have yet to be released about world-class restaurants and a rooftop bar planned for the complex. Besides those, IconSiam will feature seven food and beverage zones, each with a different atmosphere and concept. Tenants will include Singapore’s Jumbo seafood restaurant and Taiwan’s Harbour restaurant.

    Fitness First will open its largest Thai venue yet.

    Opening festival

    Chaiwatsirikul says IconSiam has budgeted THB1 billion (US$31 million) on an opening and launch festival, including extensive international communications.

    “Because IconSiam will be a showcase for the very best that Thailand has to offer and serve as a platform to propel Thai brands, products, artists, artisans and Thai culture onto the global stage, we are investing heavily to make IconSiam globally visible. We want IconSiam to be a magnet for the country, capable of drawing hundreds of thousands of international and local visitors a day, and to bring honour to Thailand,” he said.

    Meanwhile, the development’s two luxury residential towers remain under construction. The 70-floor, luxury Magnolia Waterfront Residences with 379 residential units is 90 per cent complete, while the 52-floor, super luxury The Residences at Mandarin Oriental Bangkok with 146 units is 80 per cent complete.

    IconSiam is being developed by three Thailand companies: shopping centre operator Siam Piwat, which owns Siam Center, Siam Paragon and Siam Discovery; residential developer Magnolia Quality Development Corporation; and multinational conglomerate Charoen Pokphand Group.

    Lees ook:

  • China expansion gives good result for Jumbo Group

    China expansion gives good result for Jumbo Group

    Singaporean restaurant chain Jumbo Group has announced sales of S$35.8 million for the three-months to June 30, boosted by new outlets in China.

    Two new restaurants opened in Beijing and Shanghai, combined with a recently opened venue in Xi’an’s SKP luxury mall, increased revenue for the quarter by $1.8 million comparative to last year’s figures for the corresponding period. The group has also recently launched one of its franchises in Taiwan.

    Despite the revenue growth, overall profit attributable to owners of the company showed a decrease of $1.2 million from the same quarter last year, down to $2.2 million. This was attributed to the closure of two outlets in Singapore, rising costs of materials and fresh seafood, and staffing and promotional costs for launching the Chinese stores.

    The firm’s gross profit margin was correspondingly lower at 62 per cent during the quarter, compared to 62.7 per cent last year.

    The group’s executive director and CEO Ang Kiam Meng said he was heartened the business’s expansion in the region has borne fruit.

    “On the domestic front, we see an overwhelming response at the new Tsui Wah outlet at Clarke Quay. This is in line with our strategy to increase the vibrancy of our business and Singapore’s food and beverage landscape. As a growing business, there will be a gestation period as reflected in our latest set of financial results. We are confident that we will be able to produce a sustainable performance as we expand our footprint regionally and strengthen our position.”

    The group will continue to expand across the region in the coming year, with new outlets planned for Thailand, Taiwan, China and Singapore.

  • Ng Ah Sio Bak Kut Teh opens first restaurant in Taiwan

    Ng Ah Sio Bak Kut Teh opens first restaurant in Taiwan

    Singapore-listed restaurateur Jumbo Group has opened its first Ng Ah Sio Bak Kut Teh restaurant in Taiwan.

    The new venue, which specialises in peppered pork soup, is situated in a 1400sqft space in Taipei’s Shin Kong Mitsukoshi Mall, seating 86 guests. It is operated by local franchisee Ho Sing Food, which intends to open at least 19 more outlets in the country.

    Jumbo CEO Ang Kiam Meng said the introduction of Ng Ah Sio Bak Kut Teh to Taiwan marks a key milestone for the group and is testament to the company’s growing presence in the Asian consumer market.

    “We are excited to bring one of the most-loved Singaporean heritage dishes to Taiwan, and aim to leverage the potential demand for Singapore’s cuisine in the Taiwanese consumer market, together with our franchise partner.”

    The group runs Jumbo-branded franchises in Vietnam, Taiwan and Thailand.

  • Tsui Wah Mainland coming for some help

    Tsui Wah Mainland coming for some help

    New stores in Mainland China helped mitigate a tough consumer market in Hong Kong for listed restaurant-operator Tsui Wah Group.

    The company ended the year with 70 restaurants – a net increase of five in Mainland China, one in Hong Kong and an unchanged three in Macau.

    Total revenue reached HK$1.84 billion (US$234.5 million)for the year to March 31, down by a marginal 0.3 per cent with a 4.3 per cent decline in Hong Kong offset by a 7.8 per cent increase in Mainland China. Profit attributable to shareholders fell 11.4 per cent to $80.77 million.

    Chairman and executive director Lee Yuen Hong said the retail market in Hong Kong experienced “a progressive improvement” during the period, however, selling and distribution expenses as well as property rental and related expenses had increased, which presented challenges to the group’s results.

    “The PRC market benefitted from rising purchasing power amongst the general population, and the revenue from the group’s branches in Mainland China also correspondingly increased.”

    Tsui Wah launched two new self-developed brands last year: Beat Bakery, which uses flour imported from Japan with healthy eating as its core theme, and Nijuuichi Don, featuring Japanese fast-food.

    The group also opened a new restaurant concept, Maomao Eat, which serves authentic Hong Kong-style snacks in the Tai Kwun Centre for Heritage and Arts, in Central. “Maomao Eat also incorporates vegetarian elements in its menu by partnering with Green Monday, a non-profit organisation that promotes a healthy diet and sustainable living,” he said.

    The company opened eight new Tsui Wah branches in Hong Kong and Mainland China, three in Shanghai, and three in the south.

    Tsui Wah also sealed a partnership with Singapore’s Jumbo Group to open and operate a Hong Kong-style Cha Chaan Teng under the Tsui Wah brand. Hong said the restaurant, which opened in mid-June, leverages off Jumbo’s strong presence in Singapore.

    “The group is confident this joint venture will be successful and will enable Tsui Wah and its products to establish an excellent international reputation among the 5.6 million residents of Singapore.”

    Lees ook:

  • Jumbo Group to go jumbo in Asia

    Jumbo Group to go jumbo in Asia

    Following another strong quarter, multi-dining concept company Jumbo Group says it aims to expand its brands to other major Asian cities.

    “We will continue to take a calibrated approach in our expansion plans to capture the growing F&B market in major Chinese cities such as Shanghai and Beijing as well as other regional markets like Vietnam,” says group CEO/executive director Ang Kiam Meng.

    Jumbo also plans to pursue franchising opportunities as well as growing its network through openings, acquisitions, JVs and strategic alliances.

    For its first quarter to the end of December, Jumbo has announced a profit attributable to the owners of the company of $2.6 million, compared to $2.1 million for the corresponding period a year earlier.

    Revenue increased by 5.8 per cent, or $1.8 million, to $32.7 million, mainly because of  increased revenue contributions from the group’s seafood outlets in Shanghai.

    Gross profit increased by 8.1 per cent, or $1.6 million, to $21 million. Gross profit margin was 64.2 per cent, up year on year from 62.9 per cent.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Jumbo Group China to open Beijing restaurant

    Jumbo Group China to open Beijing restaurant

    Singapore-owned seafood restaurant Jumbo Group China has signed a JV agreement to open its first outlet in Beijing.

    The agreement is between the Singapore group’s indirect wholly owned subsidiary Jumbo F&B Services (Shanghai) and Beijing Hualian (SKP) Departmental Store, a member of the Beijing Hualian Group. JFB Shanghai will hold a 51 per cent stake in the JV, while Beijing Hualian holds the 49 per cent balance.

    The JV will have a registered capital of RMB10 million (US$1.4 million).

    Slated to open by the third quarter of this year, the Beijing restaurant joins the group’s three outlets in Shanghai.
    Jumbo CEO/executive director Ang Kiam Meng says the JV agreement comes shortly after the group inked a franchise agreement in Vietnam. “We are heartened our overseas expansion plans are shaping up well.”

    For the Chinese capital, the Jumbo Seafood restaurant will be in the upmarket Beijing SKP mall.

    “The restaurant’s privileged location enables us to reach out to the more affluent segment of the market, which is cosmopolitan in outlook and more adventurous in their culinary pursuits,” says Ang.

    In December, Jumbo signed a franchise agreement with Nova Bac Nam 79 joint-stock company to grant rights to run Jumbo Seafood restaurants in Ho Chi Minh City and Danang, Vietnam. There are plans to open three Jumbo Seafood outlets in the two cities over the next two years.

    Jumbo Group has a central kitchen in Singapore to maintain quality standards and consistency as well as increase productivity and lower costs. It also has a research and development kitchen where it creates new dishes and improves food-preparation processes.

    Lees ook:

    Lees ook:

  • Jumbo Group signs deal for Vietnam

    Jumbo Group signs deal for Vietnam

    Singapore seafood restaurant company Jumbo Group has signed a franchise agreement to introduce its brand in Vietnam.

    Known for its chili crab, the F&B chain has granted franchise rights to Vietnam’s Nova Bac Nam 79 Joint Stock Company for it to run Jumbo Seafood restaurants in Ho Chi Minh City and Da Nang.

    Vietnam’s first Jumbo Seafood outlet is expected to open in Ho Chi Minh City in about six months’ time.

    The agreement is for an initial term of 10 years, and it is expected that three Jumbo Seafood outlets will be opened within two years.

    Jumbo Group is a multi-concept dining and F&B group with a network spanning Singapore, China and Japan. It also provides catering services, and in Singapore sells packaged sauces and spice mixes. It has three outlets in Shanghai, with three more planned, and in November reported a full-year profit increase of 17.9 per cent.

    Lees ook: