New York Fries Expands to Hong Kong - Foodservice News
New York Fries, Toronto, ON, will be opening its first store in Hong Kong later this month, its first outlet in southern Asia. The 180 Canadian-unit franchise currently has several outlets in Dubai and South Korea. Canadian-educated Hong Kong franchisees Thomas Lau and Ricky Takasu expect this first store located in Harbour City mall on the Kowloon side of Hong Kong harbour to achieve revenues of $3 million. It could also lead to 10 or more locations in Hong Kong and Macao over the next five years. They also hold options on expansion into Taiwan and China. While recognizing that Hong Kong is a different market from Canada, New York Fries reports significant sales in those parts of Canada where the Asian population is strong, such as Richmond, BC. “No matter what the local tastes are, we are going to win over [Chinese customers],” said Craig Burt, Vice-President of Operations at New York Fries. Also, an estimated 250,000 Canadians are living in Hong Kong.