O’Neill reflects on specialty retailer’s success in Hong Kong, future in Asia.
August 19, 2019
Sugarfina is poised to take on Asia with shops in Japan, Korea, Singapore and the Chinese mainland following the opening of its first Asian boutique at Harbour City in Hong Kong.
Rising disposable incomes and increasing health awareness across the Asia-Pacific region are driving demand for functional confectionery products, UK-based firm GlobalData says.
The Shangri-La Mactan Resort & Spa in Cebu, Philippines, has launched “The Land of Chocolate,” featuring chocolate made from cacao grown at the resort.
Sugarfina is going global. Partnering with Upper East Holdings, specialty confectionery retailer Sugarfina will expand into Asia with the opening a 900-sq.-ft. boutique at Harbor City Mall in the Tsim Sha Tsui district of Hong Kong.
Calling it a “once in a lifetime opportunity for us,” CEO Leo Tanis of Dutch-based Tanis Confectionery (TC) said the company has taken over Fast Track Engineering’s activities. The move came about following a joint venture agreement signed this past Monday by TC with Australia-based JH Tester Industrial Automation, which had acquired Fast Track Engineering in September 2017.
It turns out the top five players in Asia Pacific confectionery markets are Nestle S.A., Perfetti Van Melle SpA, Mondelez Intl., the Ferrero Group, and The Hershey Co.
Asian snacks and candies aren’t easy to find in the United States. Outside of Chinatown or Asian supermarkets like H Mart, they’re a rare commodity.
Considering they’re foreign imports, it’s not too surprising that they’re hard to find. But next to the popularity of European confections, you have to wonder why Asian candies have yet to become mainstream.
Health trends tend to shy away from the sugary sweet, but this time, rising health awareness is bringing customers to chocolate — particularly dark chocolate.