Hong Kong bakery Swire taps growing Chinese demand for quality
Hong Kong bakery business Swire Pacific is looking to almost double the number of shops it has in China by 2020, and is seeking to become one of the country's largest bakery chains. It wants to tap into China's booming middle class who are seeking better-quality products. Swire's strategy is to increase the number of bakery shops in Chongqing, Chengdu and Guiyang to 1,000 within three years. “Bakery is a very fragmented market in China. We have not yet seen any player dominating so there a big opportunity,” said Max Lau, the managing director of Swire Foods. Last year Swire Foods took over Qinyuan, a leading chain selling Chinese and western-style pastries, with over 500 outlets.
Swire plans to increase the number of bakery shops in Chongqing, Chengdu and Guiyang to 1,000 within three years