Hong Kong to build Greater China base (with photo)
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One of Japan's leading curry and ramen restaurant chains, Baltic Curry, has picked Hong Kong to set up its regional headquarters to develop business in the Greater China region, covering Hong Kong, Mainland China, Macau and Taiwan. The Tokyo-headquartered company officially opened its first Hong Kong restaurant in Prince Edward.
In August, 2005, Baltic Asia Holdings Group, a subsidiary of Baltic System Co, Ltd of Japan, established a joint-venture with the Harmony Asset Group and Axel Limited of Hong Kong to oversee business operations in Hong Kong.
With an initial investment of more than US$2 million for the Greater China region, the company hopes to expand rapidly with plans to open 10 to 15 restaurants in Hong Kong in the next few years, plus many more in Mainland China. The company also recently opened a restaurant in Macau.
Founder and president of Baltic System Co, Ltd, Mr Yukinori Yoshino attended the grand opening event in Hong Kong on September 17. He is excited about the opening of the first Baltic restaurant in Hong Kong.
The President and CEO of Baltic Asia Holdings Ltd, Mr Joseph SK Tsui, said the opening of the regional headquarters and the first outlet in Hong Kong was of significant importance to Baltic's overall business. "We could not think of a better location than Hong Kong - the famous gourmet paradise in Asia where consumers can find the largest variety of food and restaurants," Mr Tsui said. "We also found that Hong Kong's advantages, such as its stable business environment and the extensive experience of managing businesses in other cities in Greater China, make this city uniquely attractive for investors like us."
"We want to promote genuine Japanese cuisine – tasty, healthy and hygienic food offered in a friendly environment - to the general public in Hong Kong and the Mainland at an affordable price level. We will develop and oversee our regional expansion strategies from our regional headquarters in Hong Kong. Apart from growing the Hong Kong market, we plan to further extend our reach in the region by opening three to five restaurants in Shanghai during the next six months - and then gradually expand to other big cities such as Beijing, Nanjing and Chengdu. Hong Kong will be our main base in Greater China."
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulated the company on its Hong Kong investment.
"Invest Hong Kong would like to extend its warmest welcome to Baltic into Hong Kong. We are particularly delighted to see restaurant chains like Baltic choosing our city as their base for regional business development," Mr Rutherford said. "This not only shows the investors' optimism toward the catering industry in Hong Kong, but also their recognition of our city's versatility as a business location. Restaurant chains are able to develop the domestic market in Hong Kong and use Hong Kong's strengths to open doors to other neighbouring markets."
"We look forward to assisting more restaurant chains to come to Hong Kong, and we wish Baltic all the best in its development in Hong Kong and Greater China."
Established by Mr Yukinori Yoshino and his wife in 1991, Baltic System Co, Ltd has developed into the second largest curry and ramen restaurant chain in Japan, with more than 200 outlets throughout Japan. For more information about Baltic Curry, please visit the website at www.baltic.co.jp.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Tuesday, September 20, 2005
Issued at HKT 15:51
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