Food Enthusiasm purchased stake in Korean chain
Food Enthusiasm, the operator of Bar B Q Plaza and Joom Zap Hut dining establishments, prepares to broaden Red Sun Korean restaurant in Southeast Asia by 2021 after obtaining business previously this year.
Chataya Supanpong, Food Enthusiasm’s chief engagement officer, stated Red Sun has possible for development due to the fact that of the growing appeal of Korean food and the Red Sun brand name.
” We tried to find a Korean dining establishment to get as we wished to get in that section,” she stated. “Red Sun’s consumer base begins with age 16, more youthful than that of Bar B Q Plaza and Joom Zap Hut. This can assist us do cross-membership marketing.”
Food Enthusiasm is a significant investor of Food Sun, the operator, after it obtained a 74% stake previously in the year for a concealed quantity from the significant investor, Noppawin Rodrin, whose stake was minimized to 26%.
Established in 2013 with authorized capital of 7 million baht, Food Sun has 10 branches in Bangkok and one each in Pattaya and Nakhon Ratchasima. In 2015 it had a 5% market share in the Korean dining establishment organization, amounting to 2 billion baht.
Mr Noppawin, Food Sun’s 40-year-old president, stated the business intends to have sales development of 40% to 150 million baht by the end of 2019 after acquiring Food Enthusiasm as an investor.
” Food Enthusiasm will assist us approach huge retail property managers and broaden sales from shipment, which is a substantial market,” he stated. “As Red Sun’s menus mainly include boiling, we will present brand-new menu products like rice boxes for shipment.”
Mrs Chataya stated Food Enthusiasm intends to open 4-6 brand-new branches for Red Sun in Bangkok this year. A franchise platform will be developed to broaden the Korean dining establishment in the abroad market.
Food Sun can open and handle the Red Sun branch in Thailand and around the world other than in China, South Korea and Cambodia.
Mr Noppawin stated possible abroad places for Red Sun consist of Indonesia and Malaysia as Korean food has actually ended up being a pattern, comparable to Thailand.
There are no Korean food cycle with a minimum of 5 branches in those nations, he stated.
” We prepare to present non-pork menus in Indonesia and Malaysia and will settle either franchising or spending for our own,” stated Mr Noppawin.
” We are establishing a group for franchising and will deal with Food Enthusiasm to study the abroad market.”
Mr Noppawin stated Korea-based JK Food, the owner of Red Sun dining establishments, has an interest in opening a Korean sauce factory in Thailand to save money on import expenses from Korea.
In 2015 Food Enthusiasm published 3.8 billion baht in profits, up 3% from 2017. The business is going for 6% development in 2019.
Secret chauffeurs will consist of brand-new branches of Bar B Q Plaza, the Red Sun acquisition and growth, and the launch of 2 brand-new brand names in 2015– Charna and Area Q.
