The BreadTalk Company has been founded in Singapore in July 2000. It has become its way as a bakery and in 2003 developed to the investment holding company, engaged in bakery, food court, and restaurant businesses in some of Asian countries as well as internationally (“BreadTalk Group Ltd (BREAD: Singapore)”, 2015). The bakery segment deals with manufacturing and retailing of different kinds of confectionary products including franchising. It sells wide range of different breads, bans, pastries and cakes. The food court and restaurant segments are closely connected and provide services of management of food and drink outlets. Today it has established a chain of retail outlets inside the country, with the presence in such countries as Malaysia, Indonesia, Thailand, Philippines, Vietnam, Sri Lanka, Hong Kong, China, Oman, Kuwait, Saudi Arabia, Jordan, Bahrain, India and Cambodia. The Company’s subsidiaries include BreadTalk Pte Ltd, Together Inc. Pte Ltd, Thye Moh Chan Pte. Ltd., Shanghai BreadTalk Co., Ltd, and Queens Coffee Pte Ltd, among others. (“BreadTalk Group Ltd (BRET.SI)”, 2015).
The BreadTalk Company has managed to succeed having lots of competitors which tried to sell products similar to that of BreadTalk’s. Despite this fact, the company’s managed “developed a plan to rationalized the operations of BreadTalk and position it for future growth through diversifying its business and market” (“Be Inspired!”, 2006). To continue its operation and survive in the market, BreadTalk decided to become a premier international brand management company focusing on bakery and food. The main concept of the company has become to promote and sell not merely F&B products but a lifestyle to their customers. Thus the company adopted a strategy formulated by its chairman George Quek : “if you want something done, you have to do it yourself, even if that means stepping back, leaving your thriving business here and venturing into foreign fields” (Boon, 2013). Such approach enabled explosive growth for BreadTalk including huge amount of outlets and employees and no less ambitious plans for the future. Today the company employs 7,000 people. People in BreadTalk believe that their task is not to keep coming up with new brands, because it is more important to renew and refresh those that already exist.
The most interesting and fascinating thing is “how much the pure celebration of simple but good food” comes through everything the company does (Brucem, 2012). Slow but confident enlargement through merges and acquisitions ensures new horizons for BreadTalk. They “partner with small family-owned street-vendors who can then leverage BreadTalk to spread their signature and street food under one roof” (Brucem, 2012). As the franchise network continue to grow, new regions become zones of interest for the company. Thus, the most recent enlargement was in Seoul, South Korea. It “was met with great enthusiasm with never-before-seen queues forming outside the bakery” (“BreadTalk”, n.d.). The company needed to enter Korean market as it is one of the most developing markets in the region with the South Korea being a developed country. BreadTalk offered a selection of Korean inspired breads with popular Korean fillings also be found here (“BreadTalk”, n.d.).
BreadTalk is the company with huge potential to develop not only regionally, but globally. It has managed to combine indigenous cultural things with the novelty of the modern times that won love of many customers in different countries. Inspiration and devotion of the personnel of the management team is one of the pillars of such a success. Entrance to the Korean market enables further improvement and enlargement.
References
“Be Inspired! – George Quek.” (2006). Ernst&Young. Retrieved from http://www.ey.com/SG/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/Be-inspired_George-Quek
Boon, R. (2013, July 30). BreadTalk Boss Goes Hands-on Overseas. The Straight Times. Retrieved from http://www.straitstimes.com/singapore/breadtalk-boss-goes-hands-on-overseas
“BreadTalk.” (n.d.). BreadTalk Listed Company. Retrieved from http://breadtalk.listedcompany.com/concept.html
“BreadTalk.” (n.d.). MarinaBayLink. Retrieved from http://www.marinabaylink.com.sg/directory/store-name.html
“BreadTalk Group Ltd (BREAD: Singapore).” (2015). BloombergBusiness. Retrieved on 2015, July 10 from http://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=BREAD:SP
“BreadTalk Group Ltd (BRET.SI).” (2015). Reuters. Retrieved on 2015, July 10 from http://www.reuters.com/finance/stocks/companyProfile?symbol=BRET.SI
Brucem. (2012, January 26). The BreadTalk Group. XrayDelta. Retrieved from http://xray-delta.com/2012/01/26/the-breadtalk-group/
