Philippine’s Billionaire Frank Lao Invests In ZUS Coffee
Frank Lao, who is the guy behind two of Philippine’s most well-known restaurants, Choi Garden and Gloria Maris, invested in the home-grown coffee chain for a 35% stake.
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Following Farm Fresh’s move to acquire 65% stake in The Inside Scoop, yet another local food and beverage business attracted an international investor.
The Star reported that Philippine’s billionaire Frank Lao is expanding his portfolio by investing in ZUS Coffee.
Frank invested in the home-grown coffee chain for a 35% stake.
The investment is aimed at introducing ZUS Coffee to the Philippines market.
Frank owns two well-known brands in the country; Choi Garden restaurant and Gloria Maris.
The deal was signed by Choi Garden restaurant company chief operating officer Janica Lao, while ZUS Coffeewas represented by its co-founder Ian Chua.
According to The Star, Janica said ZUS Coffee is not looking at franchising as all their stores are owned by the company, and they aim to be the local champions.
ZUS Coffee’s growth in Malaysia has been very quick in the last three years and they are incredibly determined in serving the local Malaysian market with localised flavours. We believe that they will do the same thing in the Philippines market.Choi Garden restaurant company chief operating officer Janica Lao
What is ZUS Coffee?
It is a fairly new local coffee place, having started just before the pandemic in 2019. Despite the country going into lockdown in 2020, the brand now has 197 outlets nationwide.
As is the case with any businesses, ZUS Coffee has had its share of controversies.
A customer once shared she chewed on a cockroach while drinking the salted caramel latte she ordered from ZUS Coffee.
The company apologised and she was offered complimentary free-flow food for a week as compensation.
READ MORE: Roach Rage: Crunchy Insect Found In Coffee, Zus Offers Food As Apology
The company was also on the receiving end of criticism over a 5 sen issue.
READ MORE: Malaysian Coffee Chain Gets Roasted By Public Over 5-Cent Change And Tactless Remark On Socmed
Most recently, a customer found mold in her sausage roll.
READ MORE: Customer Finds Mould On ZUS Coffee’s Sausage Roll, Company Apologises
Tech and Coffee
ZUS Coffee is also known for its app-based ordering system where they log 800k active users monthly.
As reported by The Sun, Chua said the company is working to increase the number of app users through various promotional initiatives.
We have a few incentives available through the app that encourages customers to drink our coffee and tell their relatives and friends about it.Co-founder of ZUS Coffee Ian Chua
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