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Slimmed-down Convenience Retail Asia eyes Greater Bay Area expansion

Hong Kong-listed group Convenience Retail Asia says it plans to expedite expansion into the Greater Bay Area of all three of its brands – cake shop chain Saint Honore, patisserie Mon Cher and Japanese eyewear franchise Zoff. 

The company, which divested its core Circle K convenience-store business last year, has recorded a half-year rise in revenue of 12.7 per cent and a half-year profit for continuing operations up 161.7 per cent to HKD 16.94 million (US$2.17 million).

Sales at the Saint Honore chain achieved double-digit growth as Covid movement restrictions were relaxed in the core Hong Kong market, and the company expects to open more stores in Hong Kong in a variety of suburbs during the year ahead. 

The company opened three new Mon Cher shops, taking the chain to four little more than six months after the brand was launched in the territory. 

The new stores were a pop-up store at Langham Place in Mongkok, a shop in City’Super at Harbour City in Tsim Sha Tsui, and a shop in City’Super at New Town Plaza in Shatin. 

“The group is pleased with Mon Cher’s strong performance to date and believes the brand is on track to become a category leader in the local market,” CEO and executive director Richard Yeung said in a stock exchange filing.

Convenience Retail Asia now has a network of 136 stores in Hong Kong, Macau and Guangzhou. 

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