By South China Morning Post | Created at 2024-09-22 06:23:01 | Updated at 2024-09-30 07:25:55
1 week ago
Bakehouse is investing millions of dollars to double its Hong Kong footprint to cater to the rising demand for its sourdough egg tarts, offering a rare piece of good news amid the city’s retail and consumption slump.
The Wan Chai-based bakery will spend HK$31 million (US$3.98 million) to expand to Tung Chung and Sha Tin in the New Territories, while building out its factory in Chai Wan, doubling its branches to 10 by the end of 2025, founder Gregoire Michaud said in an interview.
“Because our brand has gained in image” through social-media platforms like Xiaohongshu, “people are inviting us” to expand the production and branches, said Michaud.
Growth at the six-year-old bakery is a counter punch to the gloom in Hong Kong’s retail industry, where one in 10 high street shops stood empty across the city at the end of the second quarter, according to data from JLL. Many shops in key retail areas such as Tsim Sha Tsui and Central remain empty as small businesses grapple with the shifting preferences of local residents and reduced tourist spending.
