A unit of the BreadTalk Group has entered into a joint venture with Shenzhen Pindao Food & Beverage Management (Pindao) to bring popular tea brands Nayuki and Tai Gai to Singapore and the region.
BreadTalk subsidiary Together will take a 90 per cent stake in the venture - called BTG-Pindao Venture - with Pindao holding the remaining 10 per cent.
The tie-up will operate and manage the Nayuki and Tai Gai brands in Singapore and Thailand, with a right of first refusal to operate in Malaysia, Indonesia and the Philippines.
Both brands are owned by Pindao, which was founded in Shenzhen in 2014 and has more than 100 stores in 14 Chinese cities.
Nayuki - which bills itself as a new cafe concept offering premium tea creations and healthier snacks - has already begun looking for a site in central Singapore, BreadTalk said.
Tai Gai will offer milk tea to customers with signature brews such as Sun Moon Lake Red Tea, Durian Jasmine Green Tea and Cheesy Pu Er Tea, made using globally sourced tea leaves and fruit, and topped with a milk crown that comes in cheese and milk flavours.
Catalist-listed SK Jewellery yesterday formally unveiled its flagship Shanghai bridal jewellery store to capitalise on increasing demand for wedding jewellery in China.
The store, located in upmarket Hong Kong Plaza, comes under its Love & Co brand, which specialises in bridal jewellery. It is the group's second outlet in China, serving as a "solid anchor" for the SK group to expand its presence in the country, the jeweller said in a media statement.
The group plans to open more stores in other tier one cities to strengthen its presence in the country, SK Jewellery said. This will be done in phases over the course of the current fiscal year.
SK Jewellery chief executive Daniel Lim described the opening of the store as another strategic milestone for the group's expansion as it seeks to tap new growth areas.