Convenience Retail Asia plans to expand in Greater Bay Area
Hong Kong-listed Convenience Retail Asia has expressed plans to expedite the growth of its high-end and premium specialty brands in the Greater Bay Area (GBA) over the second half of 2021 and beyond, the company said in a bourse filing.
In particular, the company is eyeing to expand its bakery Saint Honore, premium patisserie business, Mon cher, and Japanese fast-fashion eyewear, Zoff.
The company noted in its first half 2021 financial report that it has performed better in environments that were just starting to recover from the effects of the pandemic, generating satisfactory sales from Saint Honore, expanding Mon cher and ramping up Zoff.
“The past six months marked a new chapter for Convenience Retail Asia as a multi-brand specialty retailer operating in high-potential segments in the [GBA],” the company said.
In line with its strategy to identify and acquire brands it deemed to have strong growth potential in Hong Kong and GBA markets, the group clinched a franchise licence to operate Mon cher in Hong Kong and Macau in 2020.