photo: Poster advertising the opening of Pratunam Chicken Rice stall at a neighborhood mall
Strolling through a neighborhood mall in Singapore, one will not miss a swath of bright pink walls heralding the opening of a Thai-style Hainanese chicken rice restaurant in late October. Go-Ang Pratunam Chicken Rice is a popular chicken rice joint that is nestled in the heart of the colorful jumbled stalls that made up the Pratunam wholesaler shopping district in Thailand.
ASEAN home-grown brands have been expanding regionally for the last few decades. Singapore’s Breadtalk began setting up outlets in Indonesia as early as 20031. Scrolling through the list of ASEAN’s better known F&B chains, Philippines Jollibee “world famous chicken joy” boasts of over a hundred overseas outlets. Malaysia’s PappaRich has set up outlets in Australia, Singapore, China, and even the U.S.
A recent study on the Asia Pacific retail market by CBRE reported that even though U.S. and European brands still dominate the retail market, the last few years have seen more home-grown brands emerging in the regional scene. According to the study, The Rise of Asia Pacific Retailers, 30 per cent of new regional entrants in 2017, predominantly F&B, fashion, and beauty operators, are regional home-grown brands. Three years earlier, the figure stood at a mere 14 per cent. Most brands expanding into Asia Pacific markets are from Australia, Japan, and Korea. The strongest target markets are China, Hong Kong, Taiwan, and Singapore2.
However, it is the smaller players, the ubiquitous ASEAN hawker such as Singapore’s Hong Kong Soy Sauce Chicken Rice and Noodle shop winning the Michelin-star3, and Thailand’s Go-Ang Pratunam Chicken Rice with its Bib Gourmand award, venturing overseas, that give credence to the possibility that home-grown F&B retailers are finally achieving regional prominence.
References:
- Rolling out Regionally (2003), Breadtalk http://breadtalk.listedcompany.com/misc/ar2003.pdf
- The Rise of Asia Pacific Retailers (2018), CBRE research report.
- Singapore’s Michelin-starred street food vendor opens in Jakarta (2017) http://www.thejakartapost.com/life/2017/07/11/singapores-michelin-starred-street-food-vendor-opens-in-jakarta.html