President Chain Store, a subsidiary of the Taiwanese Uni-President Group, has announced that it has set up a joint venture with the Japanese fast food chain company Duskin to operate Mister Donut stores in Shanghai.
With a total investment of USD16.5 million, the new joint venture is equally-owned by the two companies.
C.J. Hsu, the general manager of President Chain Store, told local media that the joint venture is expected to open ten Mister Donut stores before the end of 2009 and the number of the donut stores will be increased to 66 by 2013. Hsu said that President Chain Store will adopt the methods of joint store expansion and department store operation to develop the Mister Donut brand along with its other brands to achieve the highest profit.
So far, President Chain Store has introduced many food and beverage brands into mainland China, including: Starbucks, 7-Eleven, Cold Stone Ice Cream, and Afternoon Tea.
A large American donut franchise, Mister Donut was introduced to Shanghai by Duskin in 2000, but it only opened five stores during the nine years it has been operating.