TTFB Company Limited, which owns Thai cuisine Thai Town, Bheart Noodles, and Chinese cuisine RICE BAR, following the announcement of the launch of Pad Thai brand BO BO in March 2024, today it launched its 10th brand "SHANN SHANN" in Taipei's first-class catering battlefield - Xinyi Business District.
Xu Chengyi, chairman of TTFB, said that the SHANN SHANN brand was inspired by RICE BAR. RICE BAR currently has nearly 30 stores across Taiwan, focusing on new Taiwanese cuisine that integrates multiple cultures. After 8 years of continuous market research, food testing, and internal big data statistics in northern, central and southern Taiwan, we have found out what suits Taiwanese tastes. and creative dishes that are in demand, such as the "Taiwanese Sugar Cane Shrimp" with shrimp paste wrapped in sugar cane.
Attack the affordable luxury and young people! SHANN SHANN is the Taiwanese cuisine with the highest unit price in TTFB
Black truffle and shrimp steamed egg, made with minced pork and fresh shrimps served with black truffle sauce, the combination of black truffle and smooth steamed egg creates a multi-layered taste experience.
SHANN SHANN continues the experience of RICE BAR and improves classic Taiwanese dishes through creativity, such as the signature dish Nine-hole Abalone Braised Pork Rice, which uses Taiwanese Koshihikari rice and local fresh Nine-hole Abalone to add an extra layer to the traditional taste. It also introduces wine pairing design and background music from the visuals and menus to present the rare experience of "eating Taiwanese food with red and white wine" in Taiwanese restaurants. The restaurant will also recommend suitable wines based on various cuisines and personal preferences. Make a difference in the Taiwanese food and beverage market.
The restaurant environment is based on simple and fashionable modern design. "Everyone walks in and sees the decoration at first sight. If you don't see the sauces on the wall, you may not know that it sells Taiwanese food," Xu Chengyi explain.
Liu Shulin, director of the brand marketing department, mentioned that compared with RICE BAR, SHANN SHANN's average unit price is about 100 yuan higher, making it the highest unit price among TTFB's Taiwanese cuisine brands. It has carved out a young customer group of 25 to 35 years old in the light luxury category. , and at the same time take advantage of the flow of people in Xinyi Business District.
SHANN SHANN introduces the concept of "Wine Pairing" to recommend wines based on various cuisines and personal preferences.
TTFB's future layout: double-digit store openings every year and entering the U.S. market
Benefiting from the peak holiday seasons such as summer and Father's Day, TTFB's revenue in the third quarter of 2024 was 1.603 billion yuan and operating gross profit was 838 million yuan, both hitting new highs in the same period. The cumulative revenue in the first three quarters was 4.64 billion yuan, an annual increase of 6.9%, which is also written Lower the group's all-time high.
Recently, Xu Chengyi revealed future plans to the media. The group will launch the "Golden Five Years" in 2025 and hopes to reach the "30,500" goal of 30 brands and 500 branches worldwide by 2030.
In order to achieve these goals, TTFB will continue to promote four major strategies. The first is the double-digit store opening and multi-brand strategy throughout the year. In 2023, 11 new stores will be opened throughout the year. In 2024, with the addition of new brands, nearly 10 stores are located in department stores and shopping malls, leveraging the advantages of its multiple brands to target the flow of people shopping and dining.
Next is the layout of the American catering market. TTFB will open its first branch in Los Angeles. They referred to the market survey results and chose the easy-to-remember "Very Thai" as their brand name in the US market. Very Thai covers an area of about 100 square meters, and the restaurant's location was deliberately chosen in an area where there are many locals to increase visibility. Xu Chengyi believes that the restaurant is an important demonstration site for the group.
What is different from TTFB in Taiwan is that there will be a bar counter to meet the needs of Americans for drinking before meals. It is expected that the first store will be opened in September 2025, and 2 stores will be opened throughout the year to test the water temperature. The average customer price is approximately US$50. Xu Chengyi mentioned that Taiwanese dishes such as RICE BAR or SHANN SHANN have the opportunity to be introduced to the United States from 2025 to 2026.
Finally, TTFB will establish a "global R&D center" based in Taiwan, which is expected to be launched in the first quarter of 2025. It will integrate five major functions, including the dish R&D center, culinary academy, resource operation center, food safety center, and logistics center. Strengthen logistical support for chain catering stores to quickly open stores, laying a foundation for overseas market expansion, improving dish innovation capabilities, cooking skills training and logistics efficiency.
