Teco Group (東元集團) aims to boost annual sales of its food and beverage business to more than NT$10 billion (US$333,7 million) in three to five years, by introducing new restaurant brands and Japanese food products.
“We will continue to introduce new restaurant chains in Taiwan, either by licensing Japanese restaurant brands or launching our own brands,” chairman Theodore Huang (黃茂雄) told a media briefing after the opening ceremony of the annual Taipei International Food Show yesterday.
The group, known for its flagship unit, Teco Electric & Machinery Co (東元電機), has in recent years focused on the food and beverage industry.
It operates nine restaurant chains and a cooking studio brand, led by the nation’s second-largest fast-food chain, An Shin Food Services Co (安心食品服務), which runs MOS Burger.
An Shin, in which the group and the Huang family hold a 45 percent stake, expects to see total outlets rise to 247 by the end of this year from 235 currently.
By the end of the year, the group is scheduled to introduce three Japanese restaurant chains in Taiwan, including Maido Ookini Shokudo, a low-price brand created by Fujio Food System — a Japanese restaurant giant with five brands and more than 650 restaurants worldwide.
The group is also set to speed up the process for Royal Host Taiwan (樂雅樂食品) — a joint venture between Teco Electric and Japan’s Royal Host Co Ltd — to trade on the GRETAI Securities Market, with a two-year target, Huang said.
Royal Host Taiwan operates 16 family restaurants and the company aims to boost the number to 20 by the end of this year and to 50 in five years, he said.
The group also plans to launch more small-scale lifestyle shopping centers, with the group’s home appliance products and restaurant chains to be their major clients, Huang said.
The group runs two shopping centers in Taipei and Greater Taichung, with their floor space being between 300 and 500 ping (990m2 and 1650m2).
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