Hong Kong-based fast food chain Café de Coral is reportedly targeting to expand its mainland restaurants to around 300 this year.
According to local reports such as on.cc, Café de Coral CEO (China) Yang Bing said that the company is currently operating about 150 stores in the mainland China, concentrated in the Greater Bay Area (GBA) market. It aims to expand the number of stores in the mainland to around 300.
Yang added that the company’s mainland business has recovered to about 90% before the epidemic. Its evening market performance is better than in Hong Kong. Moreover, Café de Coral in the mainland positioned itself as casual fast food brand. The renovation of stores is also slightly different from the stores in Hong Kong, therefore low pricing is not the brand's selling point.
Meanwhile, the recovery of Café de Coral's Hong Kong business is slower than expected. The company's chief executive Peter Lo Tak Shing said that the pandemic changed the habits of local citizens. He said that the evening market in certain areas such as Yau Tsim Mong district are still relatively quiet, but picks up on weekends. He believed the company will see an improvement over Summer, as fewer people are expected to travel abroad due to the new round of distribution of consumer vouchers.
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Back in February, Chinese on-demand local services giant Meituan started recruiting riders in Hong Kong as its preparation to enter the Hong Kong market. According to the report, Café de Coral said that it had a long-standing partnership with Meituan in mainland China. Both companies were willing to continue the cooperation in Hong Kong. It added that Meituan has approached itself on the partnership, but it had not been officially implemented.
MARKETING-INTERACTIVE has reached out to Café de Coral for further information.
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