SMI has expanded the number of Coffee Bean and Tea Leaf stores under management by opening two more stores in central Yangon locations, complementing the stores that we started at the Yangon International Airport. Ippudo has continued to grow its customer base and recorded excellent revenue levels and a second store has been planned. Crystal Jade is winning plaudits in the domestic market and the second restaurant has been opened at Union Business Centre.
SMI has decided to focus exclusively on beverage distribution in Myanmar; wine sales through its distribution agreement with MMI (which is part of the Emirates Leisure and Retail group), water sales that comprises the San Pellegrino brand and Monin Syrups. The targeted customer base of our beverage distribution activities will be focused on hotels and restaurants, patisseries and coffee shops in Myanmar.