The way to China's heartland could well be through the stomach of its people, at least that seems to be YTL Corp Bhd's plan.
Instead of bringing in more shopping malls, as the one it currently has in Chengdu, the conglomerate wants to use food as its springboard for a larger slice of China's robust economic cake.
"If there is a place to be, it has to be in China as it provides the scale that is huge enough. And in any shopping malls, food courts are important, especially in China," said managing director Tan Sri Francis Yeoh.
The company yesterday announced that the success and international recognition of YTL's Lot 10 Hutong food court will be replicated in Guangzhou, China, by as early as next year.
"If the response is good and we are expecting it to be good, in six months we will start expanding fast to other cities.
"And we hope eventually, our presence will be seen in shopping malls there," said Yeoh when asked by reporters if YTL plans to expand its shopping centres in China.
Lot 10 Hutong food court was opened just over two years ago and the idea to expand to Guangzhou came soon after, following positive responses from food aficionados around the world.
"With a consumable value at RM187.5 billion a year, Guangzhou's interest in a Malaysian brand like this is highly encouraging," said Yeoh, adding that with Guangzhou being turned into the services industry centre for China, YTL can only see better growth for the group.
Lot 10 Hutong's brand, he said will set an unprecendented step forward for YTL into China where overwhelming response will pave the way for future developments in Beijing, Shanghai, Tianjin, Shenzhen, Hong Kong, Macau, Nanjing, Wuhan, Chongqing and Hangzhou.
Lot 10 Hutong is said to be Malaysia's first "Gourmet Heritage Village", offering over 30 of Malaysia's best of the best street food and local cuisines. It has been listed and recommended by the New York Times as one of Asia's top destinations and has attracted the attention of Hong Kong celebrity chefs and food critics.
Yeoh said YTL will be investing a sizeable amount of money in this venture .
Lot 10 Hutong in Guangzhou will occupy the first five storeys of a 41-storey Tsai Lan tower and will offer the finest selection of Taiwanese and Malaysian cuisines and premium food brands from Hong Kong and the region.- Business Times
