Australian-based, Singapore-listed ST Group Food Industries Holdings is riding high on the bubble tea craze in Asia. Now, it is bringing the Gong Cha brand to the UK and New Zealand. When The Edge Singapore spoke to ST Group CEO Saw Tatt Ghee in September, he said Gong Cha became popular in the UK very quickly. Each of the two outlets in the UK now rakes in revenue of about £20,000 ($34,083) a week, or about £1 million a year. The company plans to open at least three more Gong Cha outlets there.
SINGAPORE (Dec 20): It perhaps comes as no surprise that companies are constantly racing for consumer dollars as they jostle each other in the highly competitive F&B industry. But it is not just about bringing in new trends or opening more outlets to cater for an ever-hungry clientele. Many companies are also moving outwards in their quest to expand their businesses. This year was filled with many such moves and we recap the highlights.
Branching out
