Japanese baker Hattendo to franchise stores in Hong Kong
Japanese baker Hattendo is planning to ramp up its store rollout in Asia, with particular focus on Greater China and Southeast Asia.
The company – known for its cream-filled buns – already has stores in Hong Kong, Singapore and Australia. Its next stop is Malaysia where it will launch next month after finding a local partner to produce its buns, selling through convenience stores.
Hattendo is currently finalising a joint venture with a Thai company to manufacture its products to supply stores locally. The plan there is to supply supermarkets and a network of its own-branded kiosk stores in shopping malls and other locations.
In Hong Kong and Mainland China, Hattendo will expand its network by appointing franchisees, part of a plan to boost its network six-fold to 30 by the end of 2021.
“In China’s Shenzhen and Hong Kong, there is strong interest from potential franchisees and we receive a lot of inquiries,” Daisuke Ishioka, the company’s representative director, told Nikkei.
Last year, Hattendo’s group sales reached US$19.6 million. The company is planning to issue new shares by the end of this year to raise about $900,000 to fund the expansion.