The Company Also Continues to Expand its Brand
Portfolio by Adding Kitsutaya, an Affordable, Family-Oriented,
Japanese Menu Easily Accessed by Consumers Through JustKitchen's
and Third-Party Food Delivery Apps
VANCOUVER, BC, May 12, 2022
/CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the
"Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), a
technology focused and enabled operator of ghost kitchens
specializing in the development of delivery-only food brands, is
pleased to announce that is has launched Mr. Chili ("Mr.
Chili" or the "Brand"), which is an exclusive,
delivery-only, spicy noodle menu created in association with the
Mr. Hot instant noodle brand in Taiwan. To date, JustKitchen is the first and
only ghost kitchen affiliate of Mr. Hot and its celebrity endorser,
Jam Hsiao Ching-Teng – the famous Taiwanese singer and actor.
Additionally, the Company has launched a new curry and don brand,
Kitsutaya Curry Donburi ("Kitsutaya") to appeal to families
with children as the menu adds a sweet taste to more traditional
curry and don meals at an affordable price point.
JustKitchen has created and recently launched Mr. Chili food
items based on the ingredients and recipes of Mr. Hot products, to
provide quality meals to convenience-seeking consumers who are also
fans of Jam Hsiao. According to the Nielsen Marketing Research
Consultant Co., Taiwan's instant
noodle market recently approached NT$11
billion.1 The total sales volume of Mr. Hot
instant noodles in Taiwan is more
than 1.1 million packs per year, due in part to the endorsement of
Mr. Ching-Teng. Jam Hsiao Ching-Teng
is primarily a pop singer who currently has over 1.95 million
followers on Facebook, among other platforms. Mr. Ching Teng is currently the celebrity
personality of Mr. Hot and is involved in the research and
development process of many of its food products.
Mr. Ching-Teng recently completed a world tour with 70 concerts,
including 25 concerts in Taiwan,
with approximately 300,00 tickets sold. He is also the winner of
the 13th Golden Melody Award as the
Best Male Singer, which is the biggest music award in Taiwan. Jam Hsiao has also acted in several
films like "The Killer Who Never Kills" and "My Geeky Nerdy
Buddies", and successfully won the best new actor award at the Hong
Kong Film Awards.
The Company has also developed and recently launched another
proprietary brand, Kitsutaya. It was developed to meet the strong
level of demand for curry and don cuisine in the Taiwan market, but with a lower price point
than comparable menus suitable for family budgets. Kitsutaya has
been available on the JustKitchen app as well as on UberEats and
FoodPanda since April 20, 2022.
Offering Japanese cuisine to Taiwanese consumers has been deemed
essential by Company management as it is currently one of the most
popular cuisines in the country. Kitsutaya has been positioned as a
complement to JustKitchen's other curry brand, Master Don Curry,
but at a lower average price point. According to Taiwan Business
Topics, Taipei has some of the
best Japanese food in the world, outside of Japan, due to the range and quality of the
city's authentic Japanese restaurants.2 Also,
Japan is the most popular
destination for Taiwanese travellers, with over 4.5 million
residents travelling to Japan per
year, partially due to the cuisine.3
Management Commentary
"We are excited to launch Mr. Chili in collaboration with Mr.
Hot and the one and only Jam Hsiao Ching-Teng. This is an amazing
opportunity for JustKitchen to launch our proprietary celebrity
endorsed brand and making the instant connection to his fans
worldwide," said Jason Chen,
Co-Founder and Chief Executive Officer of JustKitchen. "Adding
Kitsutaya as a Japanese brand from JustKitchen and having it
available for delivery to consumers throughout Taiwan is also very important to the Company.
Kitsutaya was originated by our data science team in identifying a
cuisine gap that fulfils the family friendly and accessible
categories," added Mr. Chen.
ABOUT JUSTKITCHEN
JustKitchen is primarily a technology focused and enabled
operator of ghost kitchens specializing in the development and
marketing of proprietary and franchised delivery-only food brands
for customers. The Company currently operates in Taiwan, Singapore and Hong
Kong with plans to expand operations to other Asian
countries. JustKitchen uniquely utilizes a hub-and-spoke operating
model, which features advanced food preparation taking place at
larger hub kitchens and final meal preparation taking place at
smaller spoke kitchens located in areas with higher population
densities. The Company combines this operating model with online
and mobile application-based food ordering fulfilled by third-party
delivery companies, to minimize capital investments and operating
expenses and reach more customers in underserved markets. The
Company's other business, JustMarket, is an e-commerce grocery
delivery platform that allows customers to purchase groceries for
delivery or add select grocery items to meals ordered through
JustKitchen.
For more information about the Company, please visit
investors.justkitchen.com. JustKitchen's final prospectus,
financial statements and management's discussion and analysis,
among other documents, are all available on the Company's profile
page on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking statements"
within the meaning of such statements under applicable securities
law. Forward-looking statements are frequently characterized by
words such as "anticipates", "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed", "positioned" and other similar
words, or statements that certain events or conditions "may" or
"will" occur including but not limited to the Company's comments
regarding providing quality meals to convenience-seeking consumers
who are also fans of Jam Hsiao; the Kitsutaya menu being easily
accessed by consumers through JustKitchen's and other food delivery
apps; the strong level of demand for curry and don cuisine in the
Taiwan market; and having more
flexibility to serve a broader spectrum of the market via two
different curry brands. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making
the projections contained in the forward-looking statements
throughout this news release. Forward-looking statements are based
on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks,
including those risk factors identified in the Company's prospectus
dated March 26, 2021, and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. The Company is under no obligation, and
expressly disclaims any intention or obligation, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
Endnotes
- "High-end instant noodle new battlefield for Taiwan's food giants", Taiwan News,
accessed May 2, 2022,
https://www.taiwannews.com.tw/en/news/3522067
- "Experiencing Taipei's
Authentic Japanese Cuisine", Matthew
Fulco, Taiwan Business Topics, January 21, 2021,
https://topics.amcham.com.tw/2021/01/taipei-authentic-japanese-cuisine/
- "Taiwan, Japan aim for 7 mil. 2-way tourist exchanges
in 2019", Kyodo News, accessed April
29, 2022,
https://english.kyodonews.net/news/2018/06/a20a99da4363-no-of-tourists-traveling-between-taiwan-japan-nears-7-milyr-goal.html
SOURCE Just Kitchen Holdings Corp.
