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Formerly | Dairy Farm International Holdings Limited (until 2022) |
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Company type | Public |
LSE: DFIB SGX: D01 | |
Industry | Retail |
Founded | 1886 |
Founder | Sir Patrick Manson |
Headquarters | Quarry Bay, Hong Kong (HQ) Bermuda (Legal base) Singapore (Legal base) |
Key people |
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Products | Food, health and beauty products |
Revenue | US$28.2 billion |
Owner | Jardine Strategic (78%) |
Number of employees | 200,000 |
Website | www |
DFI Retail Group Holdings Limited | |||||||||||
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Traditional Chinese | 牛奶國際控股有限公司 | ||||||||||
Simplified Chinese | 牛奶国际控股有限公司 | ||||||||||
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DFI Retail Group Holdings Limited (formerly known as Dairy Farm International Holdings Limited) is a Hong Kong-based retail company with legal bases in Bermuda and Singapore. A subsidiary of the Jardine Matheson Group,it is a major East and Southeast Asian retailer involved in the processing and wholesaling of food and health and beauty products. Jardine Strategic,a publicly listed holding company,has an attributable 78 percent stake in the firm. It is listed on the London Stock Exchange,with secondary listings on the Singapore Exchange (SGX) and Bermuda Stock Exchange (BSX).
The head office is in the Devon House in Taikoo Place,Quarry Bay,Hong Kong. [2]
As of 31 December 2020,the Group,its associates and joint ventures operated over 9,997 outlets;Wellcome/Food World (supermarkets),a controlling stake in Maxim's Catering (foodservice),Cold Storage (supermarkets),Jasons Market Place/Market Place by Jasons/Jasons Food Hall (high end supermarkets),Hero (supermarkets),Mannings/Guardian (health and beauty) stores;it also operates 7-Eleven (convenience stores) throughout the region,and IKEA (home furnishings) stores in Hong Kong,Macau,Indonesia and Taiwan.
The group and its associates and joint ventures operated over 9,997 outlets,employed over 220,000 people and had total annual sales in excess of US$28.2 billion.[ citation needed ] [3]
Dairy Farm was set up in 1886 by Sir Patrick Manson, [4] a Scottish surgeon,and five well known Hong Kong businessmen. They initially aimed to improve the health of Hong Kong people by providing them with non-contaminated cows' milk and to import a herd of dairy cattle so as to decrease the price of milk by more than half. The farm was located in Pok Fu Lam.
In 1890,Dairy Farm built a low-rise brick and stucco building on Lower Albert Road in Central for use as a cold storage warehouse. This warehouse was later renovated and expanded in 1913 to include a dairy shop,a room for meat smoking,a cold storage room for winter clothes and residency for its manager. The building later evolved into the company headquarters until the company moved in the 1970s. The abandoned building was acquired by the Hong Kong Fringe Club,a non-profit-making arts organisation in 1984,and has been carefully restored. This distinctive 19th century building,now known as the Old Dairy Farm Depot,is a well-known landmark in Central providing a wide variety of cultural activities and performances.
In 1904,Dairy Farm began importing frozen meat and opened its first retail store at the Central District depot. The second Dairy Farm store was established on Nathan Road,Kowloon towards the end of the war in 1918. Amongst other things,this store provided fishing boats in Hong Kong with large amounts of ice.
In 1960,Dairy Farm and Lane Crawford formed a merged food retailing operations and renamed these supermarkets as Dairy Lane under Dairy Lane Limited. This joint business was undone by the acquisition of the Wellcome chain in 1964. [5]
In 1972,Dairy Farm was acquired by Hong Kong Land,a Jardines subsidiary. In 1986 Dairy Farm was relisted on the Hong Kong Stock Exchange after it was demerged from Hong Kong Land. Dairy Farm acquired a 50% interest in Maxim's at the same time from Hong Kong Land. The 7-Eleven convenience store chain in Hong Kong and Singapore was acquired from Jardine Matheson in 1989.
Since 1999,Dairy Farm has continued to expand its footprint by acquiring supermarket and other retail operations in Taiwan,Malaysia,Singapore and Indonesia. Notably,it also acquired IKEA Hong Kong,Taiwan in 2002 and began Ikea's Indonesian operation in 2014.
In May 2012,Dairy Farm bought a 50% stake in the Rustan Supercenters,Inc.,the Rustan group's supermarket chain. 36% came from the Tantoco family and 14% from the Spinnaker group. [6] [7] Its holdings increased to 64% in 2015 [8] and 100% in 2017. [9] On March 23,2018,the entire stake was sold to Robinsons Retail Holdings,Inc. through a stock swap,yielding Dairy Farm 18.25% of Robinsons Retail Holdings,Inc. stock. [10] In 2018,therefore,Rustan Supercenters are fully acquired by Robinsons Retail Holdings the 20.00% of which is owned by Mulgrave Corporation and GCH Investments,wholly owned subsidiaries of Dairy Farm. [11]
As of June 2011,Dairy Farm is 78% owned by Jardine Matheson Holdings. [12]
In August 2021,Dairy Farm rebranded its trading name to DFI Retail Group. [13] On 5 May 2022,the company subsequently changed its legal name to DFI Retail Group Holdings Limited,effectively phased out the Dairy Farm branding. [14]
On 19 April 2024,DFI's subsidiary PT Hero Supermarket Tbk would be divesting its supermarket businesses along with the rights to the Hero brand to Kurnia's family new (and still affiliated) company named PT Hero Retail Nusantara for 135 billion rupiahs. Thus Kurnia's family reacquiring the control of its founding businesses. [15] [16] [17]
Wellcome,a major food retailer owned by Dairy Farm Group,have been cited by the Taiwanese government for 33 labor violations in Taiwan. [19] [ non-primary source needed ] These include instances of maintaining unsafe work spaces that potentially endangered employees,having staff members work unpaid overtime beyond legal limitations,and refusing pay and rest time to employees. [19] [ non-primary source needed ]
A convenience store,bodega,convenience shop,corner store or corner shop is a small retail store that stocks a range of everyday items such as tea,coffee,groceries,fruits,vegetables,snacks,confectionery,soft drinks,ice creams,tobacco products,lottery tickets,over-the-counter drugs,toiletries,newspapers and magazines.
7-Eleven,Inc. is an American convenience store chain,headquartered in Irving,Texas and owned by Japanese company Seven &I Holdings through Seven-Eleven Japan Co.,Ltd. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. After Ito-Yokado,a Japanese supermarket chain and the parent company of Seven-Eleven Japan,acquired a 70% stake in the company in 1991,the company became a wholly-owned subsidiary of Seven-Eleven Japan in November,2005.
ParknShop is one of the two largest supermarket chains in Hong Kong,the other being Wellcome. ParknShop operates more than 200 outlets in Hong Kong,Macau and mainland China.
Wellcome is a supermarket chain owned by British conglomerate Jardine Matheson Holdings via its DFI Retail Group subsidiary. The Wellcome supermarket chain is one of the two largest supermarket chains in Hong Kong,the other being ParknShop.
Jardine Strategic Holdings Limited is an investment holding company. It is a subsidiary of Jardine Matheson.
Franklins was an Australian discount supermarket chain selling packaged groceries and perishables throughout New South Wales,Queensland,Victoria and South Australia. It sold the "No Frills" home brand generic products. In 2011 the chain was bought by Metcash and the stores were sold off,shut down or converted into new supermarket banners or other brands. The final store closed in April 2015.
Aeon Co.,Ltd.,formerly Jusco Co.,Ltd.,is a Japanese diversified retail holding company. It is one of the largest retail companies in Japan,owning Aeon hypermarkets,Aeon Mall and Aeon Town shopping malls,Daiei,MaxValu,Maruetsu,and My Basket supermarkets,Ministop convenience store,Welcia drugstore,and Aeon Cinema movie theaters.
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GCH Retail (Malaysia) Sdn Bhd,doing business as Giant Mall,is a hypermarket brand and retailer chain now mainly in Malaysia,Singapore and formerly Brunei,Cambodia,Indonesia and Vietnam. In 2016,Giant was the largest supermarket chain in Malaysia. Its parent company also operates Mercató,Cold Storage and TMC in Malaysia.
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Mannings is a personal care product chain owned by Dairy Farm International Holdings,which is in turn owned by Jardine Matheson. It is known as Guardian for Malaysia,Indonesia,Brunei,Vietnam,and Singapore. By the end of 2016,there were 1715 stores in Asia,355 in Hong Kong,17 in Macau,228 in Mainland China,425 in Malaysia,245 in Indonesia,23 in Brunei,47 in Vietnam,126 in Singapore,5 in Cambodia,and 246 in the Philippines. The total income of Mannings in 2017 was US$2.8 billion. Its major rivals include Watsons which is owned by CK Hutchison Holdings.
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Jardine,Matheson &Co.,later Jardine,Matheson &Co.,Ltd.,forerunner of today's Jardine Matheson Holdings,was a Far Eastern company founded in 1832 by Scotsmen William Jardine and James Matheson as senior partners. Trafficking opium in Asia,while also trading cotton,tea,silk and a variety of other goods,from its early beginnings in Canton,in 1844 the firm established its head office in the new British colony of Hong Kong then proceeded to expand all along the China Coast.
Jardine Matheson Holdings Limited is a Hong Kong-based,Bermuda-domiciled British multinational conglomerate. It has a primary listing on the London Stock Exchange and secondary listings on the Singapore Exchange and Bermuda Stock Exchange. The majority of its business interests are in Asia,and its subsidiaries include Jardine Pacific,Jardine Motors,Hongkong Land,Jardine Strategic Holdings,DFI Retail Group,Mandarin Oriental Hotel Group,Jardine Cycle &Carriage and Astra International. It set up the Jardine Scholarship in 1982 and Mindset,a mental health-focused charity,in 2002.
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