California-based Gordon Biersch Brewery Restaurant Group Inc, with 27 locations in Washington and 17 states, announced yesterday that it would open its first restaurant in Taipei on Monday as part of its plan to tap into Taiwan and the Greater China market.
The Taipei restaurant in Xinyi District (信義) is a joint venture with a number of local investors. Known for its fresh brew, Gordon Biersch has established its own brewery in Sindian (新店), Taipei County. The two were opened with capital of NT$100 million (US$3.3 million).
However, the decision to open a restaurant comes at a time when local customers are feeling the pinch from rising fuel and commodity prices.
The Ministry of Economic Affairs reported on May 20 that total restaurant revenues in Taiwan reached NT$22.7 billion in April, down 6.4 percent from March but up 5.8 percent from a year earlier.
Revenues in the first four months of the year were up 6.8 percent year-on-year to NT$100.4 billion, the tallies showed. However, annual growth may slow in the coming months after the hike in fuel prices on May 28 and plans to raise power rates in July and October.
Jeff Lee (李宏智), president of the Gordon Biersch restaurant in Taipei, shrugged off concerns about rising prices, saying consumers were still willing to spend on things they consider worthwhile.
“Consumers have become cautious about spending, but that doesn’t mean they are not willing to spend,” Lee said.
Gordon Biersch positions itself as an upper casual dining restaurant whose prices are slightly higher than other theme restaurants in Taiwan.
Average expenditure per customer is expected to range between NT$300 and NT$400 for lunch and around NT$550 for dinner with the consumption of beer, the restaurant said.
Gordon Biersch has set a sales target of NT$40 million this year and expects the Taiwan operation to break even in 2010, Lee said.
The company plans to open two more restaurants in Taiwan by the first half of next year, but has not decided on the location, Lee said.
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