Jumbo Group said on Monday that it opened its first franchised Jumbo Seafood restaurant in Fuzhou, China, bringing its total outlets in Asia to 15.
It followed a franchise agreement signed by Le Xie F&B Management (Fujian) on 29 September for the rights to establish and operate the Jumbo Seafood outlet in Fuzhou for an initial term of five years, with the potential to be renewed for another five years, it said.
This marked the fourth franchised Jumbo Seafood restaurant since 2017 and followed the opening of an outlet in Taichung City, it said in a filing to SGX after the market close on Monday. Jumbo now has seven outlets in mainland China, with three other franchised outlets in Ho Chi Minh City, Taipei City and Taichung City, it said.
The company also plans to establish a franchise Jumbo Seafood restaurant in Bangkok, with the outlet expected to open by the end of this year, it said.
“The Fuzhou outlet follows closely on the back of the recent opening of a Jumbo Seafood restaurant in Taichung City. The successive opening of two franchised Jumbo Seafood outlets is a strong testament to our strategy of collaborating with local partners that have deep knowledge, proven expertise as well as a good network within the local F&B market, to introduce and expand our brand,” Ang Kiam Meng, CEO and executive director of Jumbo, said in the statement.
The Fuzhou outlet has a floor area of around 13,000 square feet and a total capacity of 266 seats in the restaurant, with seven indoor VIP rooms, it said.
The company said it also planned to expand in its home market of Singapore.
“There are plans in the group’s pipeline to open two new Jumbo Seafood restaurants, one Teochew cuisine restaurant and at least two more Tsui Wah Hong Kong-styled Cha Chaan Teng outlets in Singapore in the next 12 months,” the statement said.