Friday, August 18, 2017

Singapore bakery heads to Myanmar

Bakeries will soon be on the rise in Myanmar, as real estate giant Shwe Taung Group has signed a deal to set up and run local outposts of Singapore’s BreadTalk chain.

The agreement – between BreadTalk and Shwe Taung Group’s Myanmar Bakery Co – marks the international firm’s first foray into the Myanmar market and Shwe Taung’s first try at the food and beverage business.

BreadTalk’s first bakery will open in early 2017 in one of Shwe Taung’s shopping centres, according to a press release.

The local construction-focused conglomerate runs the Junction Centre malls in Yangon and Nay Pyi Taw.

BreadTalk is far from the only franchise to notice Myanmar’s blossoming food and beverage sector. The bakery follows pasta, pizza and fried chicken chains that have opened in Yangon in the belief its middle class is blooming.

“With a growing middle class and rising retail consumption, there are immense growth opportunities for BreadTalk in Myanmar,” said Bakery Division CEO Tan Aik Peng in a statement.

“We are confident that BreadTalk will introduce a new lifestyle of bread appreciation.”

For now, however, rice wins out as the most popular grain in Myanmar.

BreadTalk has spread to nearly 800 locations in Singapore, Thailand, Indonesia and other countries.

Meanwhile, Shwe Taung Group sees a bright future ahead for its food and beverage sector ambitions.

“We envision ourselves [becoming] a premier food and beverage operator in Myanmar by introducing exciting and trendy concepts in new cafes and restaurants, fast food chains and modern food courts,” said deputy managing director Daw Sandar Htun.