Hotpot giant Haidilao set to enter Hong Kong soon

Updated 2017-02-17 09:29:11 China Daily

Hotpot chain Sichuan Haidilao Catering Co is said to be making inroads into Hong Kong, joining a cluster of mainland counterparts whose business in Hong Kong has been chequered.

Edwin Leong Siu-hung, founder of Tai Hung Fai Enterprise and one of Hong Kong's largest retail landlords, confirmed that one of his company's properties in Mong Kok had been leased to Haidilao and could be decorated within two months at the soonest.

The Beijing-based restaurant operator also confirmed the news. It said that if everything goes according to plan, the company's first restaurant in Hong Kong will open three months later.

Reports of Haidilao's expansion and initial public offering have been circulating since the end of 2015. Yihai International Holding Ltd, a hotspot seasonings producer and Haidilao's exclusive supplier, was already a few steps ahead of it, having raised HK1 million (0 million) on the Hong Kong Stock Exchange in July.

Haidilao would follow in the footsteps of rival hotpot chains such as Little Sheep, Simmer Huang and Xiao Yu Hotpot Restaurant in Hong Kong, a market the company said it bets big on.

Those early comers, however, failed to get very far in the Hong Kong market. Inner Mongolia-based Little Sheep, which has operated in Hong Kong for more than a decade, only has one of the six restaurants it initially opened.

Likewise, having entered Hong Kong no more than two years ago, Simmer Huang shut its one and only restaurant in Hong Kong at the end of last year.

"As for Haidilao, this may be a good timing to enter the Hong Kong market, where the commercial rental market has been under sustained downward pressure for quite a time and is showing signs of hitting bottom," said Hannah Li Wai-han, a strategist at UOB Kay Hian (Hong Kong).

The hotspot chain will pay a monthly rent of HK0,000 for the three-storey store.

Founded in 1994, Haidilao is known for its spicy Sichuan-style food and impressive customer services, which include free manicure, shoe polishing and shoulder massage services, as well as noodle-pulling shows and dance performances.

The restaurant chain now operates 168 outlets across 51 cities in Chinese mainland and has set up nine branches in Singapore, Los Angeles, Seoul and Tokyo.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 23 2018 23:48:14

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 23 2018 23:48:14

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 23 2018 23:48:14

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords