Zoe International Co Ltd (展圓國際), which operates 10 restaurant chains with about 70 outlets in Taiwan and China, plans an initial public offering (IPO) by the end of 2015, following in the footsteps of Wowprime Corp (王品集團) and Tai Tong Food & Beverage Group (瓦城泰統集團).
“We plan to list on the Emerging Stock Market (興櫃市場) in the second half of 2015,” Zoe International chairman Chang Pao-ling (張寶鄰) told a press conference yesterday.
The company also plans to increase the number of its outlets to 200 in two years, mostly in China, Chang said.
Founded in 1999, Zoe International launched its restaurant business in Taiwan with the introduction of the Japanese chain brand Azabusabo (麻布茶房).
However, during the past 10 years, the company has established its own brands, such as Gen Tei Shoku (元定食), Perfume Dance Cafe (跳舞香水) and Tamagoya (蛋蛋屋).
The company plans to open 12 new outlets in Taiwan next year, which may boost its annual sales by more than 20 percent, Chang said.
The company launched its first Chinese outlet of Perfume Dance Cafe in Shanghai last month and plans to expand its business there through three brands — Perfume Dance Cafe, Tamagoya and Dain Ti Hill (代官山).
It is scheduled to open four more outlets in China before the end of this year and another 15 next year, Chang said.
Zoe International, which has 42 restaurant outlets in Taiwan and 25 in China, reported consolidated sales of NT$2 billion (US$67.55 million) last year.