Cafe de Coral' s return
10/11/2004 17:19
Wim Wu / Shanghai Daily News
After 8 years of waiting, Cafe de Coral, the Hongkong fast
food giant, is returning to the Shanghai food and resturaunt market.
According to recent remarks by Ms. Lo Pik Ling, an executive director
of the Hongkong fast food and institutional catering group, Cafe de Coral will
open the first resturaunt in Shanghai. As the leading chain store in the eastern
region of China, it will cover 300 square meters. In 1994, Cafe de
Coral was located in Shanghai on Xizang Road, a golden commercial area
adjacent to the prosperous Nanjing Road, but after 6 months, deficits were
incurred. In 1996, to avoid continued losses, Cafe de Coral left
Shanghai. However,in 2004, with cooperation of Jin Jiang
International, the ambitious Cafe de Coral is fighting back. The
Shanghai fast food market is a gigantic one. According to incomplete
statistics, last year, the volume of fast food in Shanghai hit 6
billion yuan (US$726 million), accounting for almost 30 percent of the
country's total. Further increases are also expected in the near
future. It is the rich and generous profits of the local fast food market
that is luring Cafe de Coral back to Shanghai, industry analysts noted. Eight of
the 10 biggest fast food group in the world, such as KFC, McDonald, Pizzahut,
are in Shanghai. The fierce competition in the fast food market of
Shanghai will be increased.
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