Entering the Chinese Dessert Market with the Brand Name of "Lucky Dessert" Diversifying its Restaurant Portfolio
Hong Kong, Oct 20, 2014 - (ACN Newswire) - Gayety Holdings Limited ("Gayety" or the "Company"; Stock Code: 8179), a local multi-branded Chinese restaurant group offering specialised menus and catering for large-scale wedding banquets and events, is pleased to announce that it entered into a memorandum of understanding with Brilliant Forever Limited ("Brilliant Forever"), which owns the exclusive licence to conduct dessert business under the trademark of "Lucky Dessert" in the PRC, for the acquisition of the entire issued capital of Brilliant Forever, to enter the Chinese dessert market with a Hong Kong renowned dessert brand "Lucky Dessert". This move marks the expansion to China of Gayety and the determination of the Company's management team in diversifying business development.
Currently, Brilliant Forever owns the exclusive licence to use the trademark "Lucky Dessert" and conduct dessert catering business under this trademark in the PRC for fifteen years. Brilliant Forever intends to set up self-operating restaurants and franchise to run a dessert catering business in the PRC. The target plan is to initially open restaurants in 12 first-tier cities in the PRC, including but not limited to Beijing, Chongqing, Guangzhou, Shanghai, Shenzhen and Tianjin. It is expected that the first outlet will be established at the end of this year or early next year either in Shanghai or Tianjin. The discussion on the choice of location is still in progress. The terms and conditions of the cooperation agreement will be further announced upon the materialisation of the agreement.
Developed for more than a decade, "Lucky Dessert" is the pioneer of Hong Kong's new-style dessert, currently operating five outlets and a centralised factory in Hong Kong. Its signature dishes, including "Durian Delight", "Banana Krisp", "Lucky Chestnut" and "Mango Sago with Pomelo", are well received from local customers, especially among the young generation, and are highly recommended and appreciated by both Chinese and foreign visitors.
Mr Wong Kwan Mo, Chairman of Gayety, said, "Chinese citizens are looking for a higher standard for food and services as their consumption capacity climbs. In addition to the tremendous room for development of the dessert market in the PRC, we believe that the acquisition represents a golden opportunity for the company's development in the Chinese market. We are going to set up new outlets of "Lucky Dessert" at suitable locations, including but not limited to first-tier cities such as Beijing, Chongqing, Guangzhou, Shanghai, Shenzhen and Tianjin, according to the demand of the consumers and the growth potential of different regions. Upholding the service spirit of "customer comes first", we are determined to provide an outstanding and privileged catering experience for every customer. Looking to the future, we have confidence in grasping the opportunity of our dessert business in China and bringing our business a new growth driver while enhancing the awareness and reputation of Gayety in China."
About Gayety Holdings Limited
Founded in 2006 and listed on the GEM Board of the Hong Kong Stock Exchange in 2011, Gayety (HKEx: 8179) is a fast growing local Chinese restaurant group with a distinctive market positioning owning four brands, namely Red Seasons, Plentiful Delight Banquet, Red Royalty Banquet and Home-made Cuisine. Gayety enjoys a good reputation in offering quality Chinese food at affordable prices as well as integrated wedding banquets and dining services to customers. Red Seasons has six restaurants located in Lam Tei and Waldorf Garden in Tuen Mun, Wanchai, Sai Wan, Shatin and Tsuen Wan respectively. Signature dishes include roast suckling pig stuffed with glutinous rice and dried prawns, fried lotus root cakes and pork ribs with plum sauce. The Lam Tei Red Seasons Main Store has also been awarded the Michelin Bib Gourmand in the Michelin Guide Hong Kong and Macau in 2011 and 2012. Plentiful Delight and Red Royalty Banquet were opened in Yuen Long in 2007 and 2011 respectively. The restaurants' grand decor and quality food have made them the preferred dining venues for wedding and dinner parties in the region since opening. Besides, Home-made Cuisine commenced operation since mid 2012, offering healthy and nutritious dishes with comfortable and homey atmosphere and decor, which make it the ideal place for gatherings of family and friends alike. Home-made Cuisine has two restaurants located in Wanchai and Olympian City respectively. Please visit www.gayety.com.hk and www.redseasons.com.hk for more information.
About Lucky Dessert
Developed for more than a decade, "Lucky Dessert" is the pioneer of Hong Kong's new-style dessert, currently operating five outlets at Causeway Bay, Tsim Sha Tsui, Mong Kok, Western District, Sham Tseng and a centralised factory in Hong Kong. Its signature dishes, including "Durian Delight", "Banana Krisp", "Lucky Chestnut" and "Mango Sago with Pomelo", are well received from local customers, especially among the young generation, and are highly recommended and appreciated by both Chinese and foreign visitors.
Source: Gayety Holdings Limited
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