It plans to expand to China’s Southwestern market like Yunnan and Guiyang.
BreadTalk Group subsidiary Shanghai BreadTalk Gourmet entered a joint venture with Ge Ying (GY) to operate the BreadTalk brand of bakeries in Chongqing, China.
According to an announcement, GY and his team is an existing franchisee and manages the BreadTalk brand of bakeries in Tibet Autonomous Region (TAR) for the last six years.
Shanghai BreadTalk will hold 30% of the JV whilst GY will own 70%. The company will operate and manage the BreadTalk brand of bakeries in Chongqing and potentially expand across the Southwestern market.
Under this agreement, Shanghai BreadTalk retains the rights to appoint exclusive partners to operate the BreadTalk brand in major transportation hubs.
“This joint venture is aligned with our Group’s long-term direction of increasing direct owned outlets in Mainland China,” said BreadTalk Bakery Division CEO Tan Aik Peng. “ Looking ahead, it will serve as a good foundation for us to build a strong Southwestern China base in Chongqing, enabling us the opportunity to penetrate further into other Southwestern markets like Yunnan and Guiyang provinces.”
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