Venchi, the Italian company specializing in gourmet chocolate, has opened its 25th store in China, and first airport outlet, at Shanghai Hongqiao International Airport Terminal 2. The 82.5sq m shop features a pick-and-mix chocolate feature-wall, and a lounge area for domestic and international travellers seeking premium Italian confectionery.
According to TRBusiness, Marco Galimberti, Managing Director of Venchi APAC, believes Asia will be the future of the Italian company and that now is the perfect time to invest: “Never let a good crisis go to waste is our motto. We didn’t allow for Covid-19 to affect our plans as we know the situation will be resolved sooner or later. Instead, we powered on and adapted to the climate we now find ourselves in. By the end of 2021 we will be proud to announce that APAC will be Venchi’s largest market outside Italy with the highest number of stores” – Galimberti said.
The opening at Shanghai Hongqiao Airport is the latest installment in Venchi’s rapid Asia Pacific expansion, having opened 12 stores in China, Taiwan, Japan, Indonesia in 2020 alone.
VENCHI TARGETING ASIAN MARKETS
Venchi has also opened 13 stores in Hong Kong within the last 10 years, 70% of which commenced trading in the last four years. More openings are in the pipeline.
The company’s investment in Hong Kong and the wider Asia-Pacific region stems from its realization that the current market situation is more stable and that retail rental rates have become decidedly more favorable.
In addition, Venchi has adapted to the needs of its customers by offering more take away options. A delivery platform has also been introduced.
Prior to its rapid Asian expansion, Venchi increased factory capacity by 50%. It is now planning to open a further 29 stores in Asia-Pacific this year with Shanghai Qiantan Taikoo Li the next location. It will then look to open its first stores in Osaka, Nanjing, and Malaysia and keep expanding in Taipei and Jakarta.