Can you paint us a picture of how the acquisition of Crystal Jade by LVMH private equity arm L Catterton Asia (previously L Capital Asia) & SCPE (private equity arm of Standard Chartered Bank) has affected the company’s business direction almost three years on?
The merger has put Crystal Jade Culinary Concepts in a better position for further growth. With a broader network, we have established more partnerships with like-minded businesses with a wide reach, such as Golden Gate Group (GGG), HMSHost and Singapore Myanmar Investco (SMI) to extend our footprint into new territories.
Some noteworthy openings in the past year include Cambodia, Myanmar, Beijing Airport, Shanghai Disney Resort – Disneytown, Vietnam and Busan. Meanwhile, our strategic partnerships in 2017 will also see us opening in Sands (Sands Cotai Central in Macao and Palazzo in Las Vegas) and new openings in other cities of China, such as Wuhan and Kunming.
We share and leverage on the expertise, knowledge and resources from L Catterton Asia’s retail arm; LVMH and Standard Chartered bank; such as its strong branding and solid relationship with landlords and business partners, as well as guardianship and sharing of contacts, besides its financial strength.
In addition expanding the brand’s presence further overseas, as well as strengthening the beverage portfolio, what other notable changes have been implemented since then?
An Executive Committee has been formed to ensure timely updates, tightening and strengthening of our library of resources.
Some changes we have made include revitalizing and refreshing of menu items; retaining the essence of traditional Chinese cuisine while incorporating some inventive approaches in light of food trends and drawing influence from modern gastronomy. We also draw on the strength of our unified departments and share knowledge across cities and outlets