Homepage
PR Newswire
That's really weird. The last i know - McD/Starbucks are still F&B companies. They invested in their brands to grow their F&B business, ie. brands drive business growth and the proceeds of the business growth is further invested to grow the brand - creating this virtuous circle. I cannot imagine it is the other way around where investing in new businesses (corporate advisory, fintech, blockchain) will drive the brand growth...but you probably could do it if there are more synergies or there is some sort of integration ongoing...But of course, i am not an entrepreneur like Mr Foo who may be thinking out of the box, and definitely he has more insights than me about building an business!
Sakae sheds no further light on case of sugar trade turned sour
Despite the tough questions, the hour-long AGM was civil, although one shareholder urged Mr Foo to focus on his core food business, voicing concerns that management had gotten "distracted" over the years. Mr Foo said: "I beg your pardon, if you have mistaken us for a food company. We have never gone out to say we're building a food company. We have always said we are building a global brand."
Sakae has always been on a "brand-building journey", he said: "So you realise that even when we do fintech, it's Sakae Fintech. Even when we do corporate advisory, it's Sakae Corporate Advisory. We go to blockchain, it's Sakae Blockchain. We do cybersecurity, it's Sakae Cybersecurity. It's all riding on the Sakae brand."
He added: "We are trying to build a McDonald's or a Starbucks for sushi. So we are not a F&B company."
https://www.businesstimes.com.sg/compani...urned-sour
Sakae sheds no further light on case of sugar trade turned sour
Despite the tough questions, the hour-long AGM was civil, although one shareholder urged Mr Foo to focus on his core food business, voicing concerns that management had gotten "distracted" over the years. Mr Foo said: "I beg your pardon, if you have mistaken us for a food company. We have never gone out to say we're building a food company. We have always said we are building a global brand."
Sakae has always been on a "brand-building journey", he said: "So you realise that even when we do fintech, it's Sakae Fintech. Even when we do corporate advisory, it's Sakae Corporate Advisory. We go to blockchain, it's Sakae Blockchain. We do cybersecurity, it's Sakae Cybersecurity. It's all riding on the Sakae brand."
He added: "We are trying to build a McDonald's or a Starbucks for sushi. So we are not a F&B company."
https://www.businesstimes.com.sg/compani...urned-sour