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JAS Asset has launched Beans and Brown to take over coffee-house chain Casa Lapin, with plans to introduce the brand overseas and list the subsidiary within three years.
It is part of the space-management company’s renewed focus on retailing business over the past three years. “That’s why it launched one community mall a year between 2014 and 2016,” says JAS Asset CEO Suphot Wanna.
He says the diversification move is a springboard for the firm to enter the food and cafe market. It last month signed an agreement to acquire the Casa Lapin trademark and F&B business from the Coffee Project chain. With a budget of THB42 million (US$1.2 million), Beans and Brown was established as a 60:40 JV to manage Casa Lapin.
Casa Lapin has seven branches in Bangkok, with three fully run by Beans and Brown. The others are a collaboration with partners. Beans and Brown plans to three more Casa Lapins in CBDs this year, then next year add at least 10 outlets a year. A highlight will be the opening of a Casa Lapin flagship store at a premium shopping complex in the heart of Bangkok.
Casa Lapin’s next step will be to expand to Asian cities such as Hong Kong, Seoul, Singapore, Taipei and Tokyo.
Beans and Brown expects its revenue to grow by 600 per cent within three years, from THB60 million this year to THB360 million in 2020.
Presently, 70 per cent of Casa Lapin’s revenue comes from coffee and beverage sales, with the rest from food/bakery, says Beans and Brown CEO Surapan Tanta.
“In the future, we plan to add souvenirs to our places to generate more income, as our target groups are new-generation people with a love for quality and great design,” he says.
“The joint venture with JAS Asset enables us to develop Casa Lapin further. With JAS Asset, we have professionals in charge of management, marketing strategies and staff training.”