Xiabu Xiabu, a Taiwan-invested hotpot restaurant chain, has opened its 100th restaurant in Daxing, Beijing.
Following registration in Beijing in 1998, Xiabu Xiabu opened its first restaurant in Beijing's Xidan in March 1999. As the first bar-style small hot pot restaurant in Beijing, the company has developed steadily during the last ten years. Apart from the rapid growth in terms of number of restaurants, Xiabu Xiabu set up its own central kitchen distribution system to support its overall expansion.
In 2008, the company developed rapidly despite the global financial crisis. During the year, the number of restaurants increased from 40 to 60. In 2009, it reportedly made revenues of around CNY400 million, a year-on-year increase of 73%, and the number of restaurants increased by 67%.
At present, over 90% of the chain's mainland restaurants are in Beijing — the remaining ones are in Tianjin. In 2010, Xiabu Xiabu plans to open 55 new restaurants in Beijing, Shanghai, and northeast China.