Chinese craft beer maker RichKat taps into Hong Kong’s frothy market
- Hong Kong’s retail market, which is undergoing a shake-up, has seen an influx of mainland Chinese brands taking advantage of the declining rents
RichKat Craft Brewing, a Shenzhen-based beer brand, has opened two pubs in Hong Kong, a move that could benefit the company as the beverage is tipped to become one of the fastest-growing alcoholic drink segments in the city, according to one forecast.
The outlets are located on Pottinger Street in Central and on Hollywood Road in Sheung Wan, areas that are known to attract locals and expatriates after office hours. The outlets, which opened in July and early this month, currently only offer canned beer.
“The diverse market environment and customer base can provide us with cutting-edge feedback, which in turn drives us to develop products and brand strategies with a more international perspective,” a RichKat spokeswoman said.
Consumers in Hong Kong have a deeper understanding of craft beer and are more attuned to quality, she added.
Outback Steakhouse, an American restaurant chain serving Australian-style food that has been operating in the city since 1999, recently closed nine of its 19 branches, citing poor market conditions.
On the other hand, mainland brands have become more aggressive in their expansion in Hong Kong. New leases by mainland Chinese brands surged 215 per cent year on year in the first seven months of the year, according to JLL.
