Singapore Myanmar Investco (SMI) Limited has been granted an exclusive franchise agreement by Crystal Jade Management (Vietnam) Pte Ltd to open speciality Chinese restaurants in Myanmar.
SMI (SGX Stock Code: Y45) is listed on the Singapore Stock Exchange with diversified business interests and has “identified several growth catalysts in South East Asia’s pioneer markets, especially in Myanmar. SMI has allied before with globally recognised brands and companies and is confident that “Crystal Jade’s gastronomic Chinese cuisine will find ready acceptance in Myanmar after the first two stores are opened this year.”
The deal will see the Crystal Jade Palace Restaurant opening at the Sedona Hotel Yangon and the Crystal Jade La Mian Xiao Long Bao, reportedly planned for Yangon International Airport. Further details can be seen on their announcement at the Singapore Stock Exchange. Two more restaurants are scheduled for next year.
Not only does this endorse more confidence in Myanmar, it also shows an appetite for luxury. These are described as “Expansive multi-concept dining havens”. The Crystal Jade brand is already in Singapore, USA, Thailand, Vietnam, Hong Kong, China, Philippines, India, Indonesia and South Korea. In the USA there are “Chic bar and lounge concepts evoking an English Gentleman’s Club with deep mahogany walls, rich marble or alternatively Al-fresco dining and bar experiences”. What this also means is that the group is convinced they can rely on Myanmar’s population of over 50 million, and growing tourism figures for strong company (and national) growth.
We have to admit the we wait with anticipation as to what the opening menus will offer. In other countries, and to whet the appetite, here is a taster – “fine dining concepts include traditional Cantonese and Teochew cuisine…and authentic Korean cuisine and Continental…..and items such as Lanzhou La Mian and Shanghai favourites, Cantonese barbecue meat, noodles and congee, Hong Kong Dim Sum.”
Speciality havens are clearly in vogue. You may have seen one of our earlier blogs on the selection of FocusCore by Espressonite to help them prepare and launch their first retail outlet for the coffee experience in Yangon.
That is what we do in FocusCore. We advise and help you plan and carry out the steps necessary for you to operate in Myanmar. Call us now to discuss how we can help you.