Iconic Singapore chili crab restaurateur No Signboard Holdings said Monday it opened its first overseas seafood outlet in Shanghai, China, bringing its total to four outlets.
“With its flagship restaurant at the Esplanade and two other restaurants at Vivocity and Clarke Quay Central respectively, No Signboard seafood restaurants have been serving seafood cuisine in areas with high volume of tourist crowds in Singapore,” the restauranteur said in a filing to SGX.
“According to Singapore Tourism Board, along with Indonesia and India, China has remained the biggest source of visitors and spending in Singapore. With a presence in China, the group aims to raise the awareness of our brand and attract more tourist crowd to our Singapore restaurants,” No Signboard added.
The new outlet is located at Shanghai’s K11 art mall, and will offer the group’s Draft Denmark beer on the mainland for the first time, the statement said.
Sam Lim, executive chairman and CEO of No Signboard, pointed to China’s rising household incomes and wealth accumulation, as well as an increasing number of households considered “mass affluent.”
“The K11 art mall is an upscale prime location where the affluent in Shanghai do their luxury shopping. Our group will continue to explore other opportunities regionally to expand our business,” he said.
“Our seafood restaurant business has continued to be a pillar of strength and has remained the core revenue driver for our group. We have been actively exploring ways to expand our seafood business and geographic expansion will play a key role in our business strategy,” he added.