Food & Beverage
Starbucks and music streaming service Spotify plan to strike a music partnership that will give customers access to exclusive content, Starbucks announced Monday.
The coffee chain's loyalty members will gain access to Starbucks music on Spotify and have input on in-store playlists, among other benefits. The collaboration will start this fall in US company-owned stores, followed by Canada and the United Kingdom.
In addition, Starbucks' US-based employees will receive a Spotify Premium subscription.
TWG Tea from Singapore expects its business in Thailand will grow by almost 50 percent this year, with sales forecast to reach THB250 million (USD7.5m).
The brand owner is considering further expansion in Thailand by supplying tea to restaurants and hotels, especially those managed by the hospitality chain owned by Italthai Industrial Group. Italthai is the master franchisee for TWG Tea there.
Yum Brands shares rallied on Tuesday after the restaurant operator topped earnings expectations as comparable sales in China declined less than forecast.
Yum, which operates KFC, Pizza Hut and Taco Bell restaurants, reported first-quarter earnings of 80 cents per share on revenue of USD2.62 billion.
McDonald's Corp.'s Japan business forecast wider losses this year, announcing store closures and job cuts after sales suffered from food scandals.
McDonald's Holdings Co. (Japan) would probably lose JPY38 billion (USD318 million) this year, compared with a JPY21.8 billion loss in 2014, the company said Thursday in a Tokyo Stock Exchange statement. Sales were expected to drop 10 percent to JPY200 billion, it said.
McDonald's entered India in 1996, against the backdrop of a market that was hesitant to try fast food and was still dependent on the "tiffin" lunch boxes many lug to work.
Two decades later, things have changed. India's fast-food industry is expected to double in size between 2013 and 2016, to $1.12 billion, according to the Economist Intelligence Unit. And demographic trends mean it could become the next mega-market for international fast food players.
One of the last remaining legal drugs, and a high-margin one to boot, coffee is undergoing a subtle shift.
It's been a love affair that has failed to produce market dominators prevalent across other parts of business. Researcher IBISWorld estimated in November there were "no major players" in the AUD4.3 billion (USD3.33b) Australian cafe and coffee shop industry, but instead 6,700 business making profits of just over AUD250 million.
When I first entered the coffee industry in 2002, it was one dominated by Starbucks. Not much has changed.
However, when a consumer industry is dominated by one player, I look at that as an opportunity. Consumers will always want choice, whether that is in the US, Japan, China or, to be honest, anywhere in the world. Starbucks created an industry that did not exist 25 years ago, but it is impossible for a company to be all things to all people, no matter how dominant.
Starbucks and Chinese leading food and beverage producer Tingyi Holding Corp. (Tingyi) said on Thursday they have entered into an agreement to manufacture and expand the distribution of Starbucks ready-to-drink (RTD) products throughout mainland China.
According to the agreement, Starbucks will be responsible for providing coffee expertise, brand development and future product innovation, and Tingyi will manufacture and sell Starbucks RTD portfolio in China.
With a recent USD110 million funding and acquisition of Food Runner Group – which operates Room Service Delivery here in Malaysia, foodpanda is now the largest food delivery service in Malaysia.
One of Australia's largest independent liquor retailers, Kemenys, has suffered a drop in sales and profits in its latest financial year and faces an even tougher time this year as it tries to counter the full impact of a Dan Murphy's superstore owned by Woolworths that opened nearby in a prime eastern Sydney site in mid-2014.
Kemenys, which runs a large retail store in the beachside Sydney suburb of Bondi and has more than 100,000 mail-order and online customers it services from a separate warehouse, is owned by the Kemeny family. The business has been operating since 1960.