B & S International Holdings’ retail subsidiary TenRen has expanded its network in Hong Kong from 24 to 33 stores in the last financial year.
Annual results released by B & S reveals same-store sales growth at TenRen was 13.7 per cent during this period, driven both by the expansion of its retail network as well as growing sales within its existing outlets. The firm anticipates similar expansion in the coming year.
In revenue terms, between November 2016 and October last year, TenRen ranked first in the Hong Kong tea drinks chain market.
B & S also retails foreign food and beverage brands through its subsidiary group’s 43 self-operated retail outlets in Hong Kong, as well as outlets for Japanese ramen brand Jiu Tang Wu (from Taiwan) and chocolate brand Hotel Chocolat (from the UK).
The company’s total revenue from its retail subsidiaries was about HK$196.7 million (US$25.1 million), up from about HK$124.9 million in 2017. Total retail sales are largely responsible for a company-wide increase in net profit of around 23 per cent.
The group plans to launch new retail brands in Hong Kong next year.
Source: Inside Retail Hong Kong.