Jumbo Group makes swift move into Taiwan
Two days after revealing a franchise deal in Taiwan, Singapore-listed Jumbo Group has opened its first seafood outlet at Shin Kong Mitsukoshi mall in Taipei’s Xin Yi district.
Jumbo entered into a deal with Baipin last month to introduce the brand to Taiwan, to be run by a JV company incorporated in Taiwan. Baipin was founded by Henry Tseng, the co-founder of Hoyii Life, which runs the Hoyii Main Station artistic cuisine mall in Taipei. He has introduced several Michelin-starred restaurants into Taiwan including Hawker Chan, Tim Ho Wan and Tsuta.
Ho Sing Food, the 51:49 JV formed by Baipin and Jumbo’s wholly owned subsidiary Jumbo Group of Restaurants, has a 10-year agreement to franchise the brand in Taiwan, renewable for a further 10 years. It is envisaged eight outlets will be opened.
This follows the establishment of Shanghai branch office and plans for a Jumbo Seafood outlet there, the fifth in China. It will open this month.
Jumbo Group’s F&B network spans Singapore, China, Japan and Vietnam.