TAITRA-organized virtual meets yield US$9.75 million in deals for Taiwanese F&B brands.
Two dozen popular Taiwanese dining brands are serving a slice of good news during the pandemic, as they are on the way to expand their business internationally.
While the food and beverage (F&B) industry has been suffering a decline in traffic under the nationwide dine-in restrictions enacted in mid-May, a government-led business matchmaking event was recently held in an attempt to ease the impact of the pandemic on small businesses.
Over two dozen deals were hatched from nearly 50 virtual business-matching meetings hosted by the Taiwan External Trade Development Council (TAITRA). Buyers from Canada, the Philippines, Indonesia, Singapore, Iraq, Malaysia, Cambodia, Hong Kong, and China are said to have struck deals with 26 Taiwanese dining brands, with the total value of the deals amounting to roughly US$9.75 million.
This year, in addition to beverage brands, international buyers are looking for partnerships with bakeries, makers of traditional delicacies, and hot pot brands, TAITRA said.
Before the event, a Canadian marketplace even expressed an interest in bringing the Taichung-based teahouse brand Chun Shui Tang (春水堂) to Vancouver. Meanwhile, Cambodian Chip Mong Group is proactively seeking a franchise partnership with popular hot pot chain Top One Pot (這一鍋).
Best known for its braised pork rice, Formosa Chang Lu Rou Fan (鬍鬚張魯肉飯) is in the middle of a deal with Hong Kong’s Teamon Products Ltd. to export frozen ready-to-eat products.