By Kuan-lin Liu, The China Post with cnYES
Yummy Town (Cayman) Holdings Corporation signed a purchase contract with Yong-Da Food and Ingredient Company and Pingtung County’s lemon producers on Friday to purchase a large volume of lemons. The food and beverage company is reportedly stocking up on inventory for a speedy global expansion of Happy Lemon, its lemon-themed beverage chain, this year, the corporation’s chairman Wu Po-tsao (吳伯超) stated.
The current contract sees an expansion from last year’s 50-hectare partnership to 90-hectares, with the production of lemons increasing from 1,260 tons to 1,800 tons.
Wu regarded the partnership between Yummy Town and Yong-Da, which dates back to 2012, as a way for his corporation to acquire quality goods at a reasonable price while providing local farmers with a steady income.
This action, Wu said, represented the corporation’s way to give back to the community and support local farmers.
The partnership secured was for Yummy Town Pingtung’s Eureka lemons. These lemons are apparently Happy Lemon’s secret weapon in a competitive beverage market, Wu stated, noting the lemons’ natural aroma, more powerful than that found in Southeast Asia and mainland China lemons.
Since its procurement collaboration with Yong-Da stated in 2012, Yummy Town has reportedly purchased 2,500 tons of fresh lemon juice, which is equivalent to 7,500 tons of lemons. When Life Hands You Lemons Yummy Town has made an empire with its lemons amassing over 700 Happy Lemon stores since the brand was launched in 2006.
The lemon-themed beverage shop has opened around the world in Taiwan, China, the U.S., the U.K., Canada, South Korea, Hong Kong, and the Philippines.
Together, Happy Lemon and Yummy Town’s other brands, including Spanish tapas restaurant Alma and curry cafe The Spiceland, grossed a total revenue of NT$1.757 billion (a 9.5 percent year-on-year increase) in 2016. The corporation made a profit of NT$121 million (a 67.1 percent year-on-year increase) last year, with earnings per share of NT$4.03 (67.2 percent year-on-year increase). Making More than Lemonade During its earnings report earlier this week, Yummy Town officials stated that it was to proceed with its plan to open more than 200 new shops this year.
Yummy Town is optimistic about the global beverage market’s growth this year, hoping to become a more global brand through its take on lemon-based beverages. Moving forward, the corporation hinted at the possibility of a collaboration with Yong-Da to make other lemon-related products, including lemon snacks, and even lemon enzymes.