The Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates three restaurant chains with nearly 60 outlets in Taiwan, yesterday announced its first restaurant in Shanghai will open next month, saying it plans to expand the number of Chinese outlets to 10 by the end of next year.
SIXTIETH RESTAURANT
The Shanghai restaurant is a Thai Town Cuisine outlet (瓦城泰式料理), located in the Reel Department Store (芮歐百貨) and will target customers between 25 and 40 years old with an average transaction per customer of between 100 yuan (US$16.4) and 150 yuan (US$24.6).
“This will be the group’s 60th restaurant globally,” group chairman Charles Hsu (徐承義) told a media briefing.
Hsu did not specify a sales target for the new restaurant. Citing experience in Taiwan, he said a Thai Town restaurant in Taipei’s Xinyi District (信義) could generate sales of NT$50 million (US$1.7 million) to NT$60 million (US$2.03 million) annually.
The group operates restaurants under three brands: Thai Town, Very Thai Restaurant (非常泰) and 1010 Hunan Cuisine (1010 湘辣料理).
It plans to launch future outlets in China in Shanghai, Nanjing and Suzhou, with a special focus on East China.
“Most of these restaurants will be located in department stores or shopping malls, in line with the group’s successful operation in Taiwan,” Hsu said.
The group has been preparing its expansion plan in China for the past year, having already invested NT$10 million in Shanghai thus far, he added.
The group will unveil its fourth brand in Taiwan in the first quarter next year, with a goal to expand a total of 30 restaurants under its four brands annually.
BIG 100
The expansion across the Taiwan Strait will help increase the number of the group’s restaurants worldwide to 100 by the end of next year.
The group’s consolidated sales for the first nine months totaled NT$1.72 billion, up 17.78 percent from a year ago, company data showed.
Shares of TTFB dropped 0.73 percent to close at NT$273 on the GRETAI Securities Market yesterday.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
SK Hynix Inc warned of increased volatility in the second half of this year despite resilient demand for artificial intelligence (AI) memory chips from big tech providers, reflecting the uncertainty surrounding US tariffs. The company reported a better-than-projected 158 percent jump in March-quarter operating income, propelled in part by stockpiling ahead of US President Donald Trump’s tariffs. SK Hynix stuck with a forecast for a doubling in demand for the high-bandwidth memory (HBM) essential to Nvidia Corp’s AI accelerators, which in turn drive giant data centers built by the likes of Microsoft Corp and Amazon.com Inc. That SK Hynix is maintaining its
RSS