OPERATION OF F&B OUTLETS
SMI F&B has signed franchise/license agreements to develop, manage and operate Crystal Jade, IPPUDO and The Coffee Bean and Tea Leaf in Myanmar. SMI F&B is responsible for managing and operating four F&B outlets (approx. 1,000 sq.m of Crystal Jade and Coffee Bean and Teal Leaf) within Yangon Airport, and two F&B outlets at Junction City, one of Myanmar's premier malls. SMI plans to expand the presence of these F&B outlets throughout the country with an initial focus on Yangon outside the airport and will also look to bring other international F&B brands into Myanmar.
SMI F&B has entered into a franchise agreement with Crystal Jade Group, for SMI to operate and manage culinary concepts in Myanmar for 10 years, with the option to extend it for another 10 years.
Founded in Singapore in 1991, Crystal Jade Group is a well-known household name in Asia that is committed to preserving the rich traditions of Chinese cuisine through its specialty dining concepts ranging from fine dining restaurants and casual dining eateries to specialty bakeries. The award-winning group currently owns and operates over 100 outlets in 20 major cities with diverse dining concepts across Asia Pacific and in the United States.
The first Crystal Jade Kitchen restaurant in Myanmar was opened in Q4 2016 at the new Yangon International Airport Terminal 1. The second Crystal Jade Kitchen restaurant was opened in downtown Yangon in April 2017 at Junction City, first luxury retail mall in Myanmar, winning plaudits in the domestic market.
SMI F&B has entered into a license agreement with Chikaranomoto Holdings Co. Ltd., for SMI to operate and manage culinary concepts in Myanmar, under the IPPUDO trademark. SMI will have the exclusive right to develop, manage and operate IPPUDO ramen restaurants in Myanmar for 5 years, with the option to extend it for another 3 years upon the same terms and conditions.
Founded in Hakata, Japan in 1985, IPPUDO is a popular ramen restaurant. The group currently owns and operates over 90 outlets in Japan and over 60 outlets in countries like USA, Singapore, Hong Kong, China, Taiwan, Australia, Malaysia, Philippine, Indonesia, Thailand, United Kingdom and France.
The first IPPUDO restaurant in Myanmar was opened in April 2017 at Junction City, and the business has continued to grow its customer base in Myanmar.
SMI F&B has entered into a franchise agreement with The Coffee Bean and Tea Leaf ("CBTL"), for SMI to operate and manage three CBTL outlets at Yangon Airport. The first two CBTL outlets were opened in the new international terminal in July and September 2016 respectively. The third outlet was opened in the new domestic terminal in March 2017.
Building on the strong performance of theses stores, SMI secured a national roll-out agreement for Coffee Bean and Tea Leaf, with the first store to be opened in the domestic market within 2018.
SMI will continue to actively look for new locations to expand our current F&B franchises and we are exploring new F&B franchises that can complement our impressive F&B portfolio in Myanmar.
SMI is revamping our portfolio of fresh food, packaged foods and wines with a view to roll out this expanded product range in the near future. Our marketing efforts will initially be focused on hotels and international restaurants before broadening out into the retail consumer market in Myanmar.
Rising income levels and continued growth of international travelers to the country will boost hotel occupancy levels and lead to higher demand for premium F&B products.