Dairy Farm International Holdings
Encyclopedia
Dairy Farm International Holdings Limited is a retail
company in Asia
, with a legal base in Bermuda
. A member of the Jardine Matheson Group, it is a leading pan-Asian retailer which processes food
, wholesale
s food and personal hygiene products
in the Pacific region and in China
. Jardine Strategic
, a publicly listed holding company
, has an attributable 78% stake in the firm. It is a listed company on the London Stock Exchange
, with secondary listings on the Singapore
and Bermuda
stock exchange
s.
/Food World (supermarkets), 50% share of Maxim's Catering
(restaurant
s), Cold Storage
(supermarkets), Jasons Market Place/Market Place by Jasons
(high end supermarkets), Shop N Save (discount supermarkets), Giant
(hypermarkets), Mannings
/Guardian (health
and beauty
) stores; it also operates 7-Eleven
(convenience store
s) throughout the region, and IKEA
(home furnishings
) stores in Hong Kong and Taiwan
.
Among 956 stores in South Asia operated by Dairy Farm, 433 are in Singapore
, 186 are in Malaysia, 222 are in Indonesia
and 115 are in India
. It now employs 56,800 people in the region and has around 2,000 sales from ongoing operations worth 4.5 billion US dollars in total.
Dairy Farm was set up in 1886 by Sir Patrick Manson
, 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 the General 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
forms a merged food retailing operations and renamed these supermarkets as Dairy Lane under Dairy Lane Limited. The joint business is undone by the acquisition of Wellcome
chain in 1964.
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. The 228-outlet 7-Eleven convenience store chain in Hong Kong was acquired in 1989 from Jardine Matheson.
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 and Taiwan in 2002.
As of June 2011, Dairy Farm is 78% owned by Jardine Matheson Holdings.
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
company in Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
, with a legal base in Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
. A member of the Jardine Matheson Group, it is a leading pan-Asian retailer which processes food
Food processing
Food processing is the set of methods and techniques used to transform raw ingredients into food or to transform food into other forms for consumption by humans or animals either in the home or by the food processing industry...
, wholesale
Wholesale
Wholesaling, jobbing, or distributing is defined as the sale of goods or merchandise to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services...
s food and personal hygiene products
Personal care
Personal care or toiletries is the industry which manufactures consumer products used for beautification and in personal hygiene.-Subsectors:Subsectors of personal care include cosmetics and feminine hygiene....
in the Pacific region and in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. Jardine Strategic
Jardine Strategic Holdings
Jardine Strategic Holdings Limited is a large company that holds stock. It is a part of Jardine Matheson Holdings Limited, or Jardine's. Jardine Strategic is an element of the Straits Times Index....
, a publicly listed holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, has an attributable 78% stake in the firm. It is a listed company on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
, with secondary listings on the Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s.
Overview
By the end of December 2003, the Dairy Farm Group and its related associations ran 2,570 outlets, WellcomeWellcome
Wellcome is a supermarket chain owned by Jardine Matheson Holdings via its Dairy Farm subsidiary. The Wellcome supermarket chain is one of the two largest supermarket chains in Hong Kong, the other being PARKnSHOP. Wellcome also operates supermarkets in Taiwan under the Wellcome name...
/Food World (supermarkets), 50% share of Maxim's Catering
Maxim's Catering
Maxim's is Hong Kong's largest food & beverage corporation and restaurant chain. Founded in 1956 by Dr James Tak Wu and his brother S.T...
(restaurant
Restaurant
A restaurant is an establishment which prepares and serves food and drink to customers in return for money. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services...
s), Cold Storage
Cold Storage (supermarket)
Cold Storage is the second-largest supermarket chain in Singapore behind NTUC FairPrice, owned by Dairy Farm International Holdings.It operates 3 supermarket brands in Singapore and Malaysia; Cold Storage , Market Place and Shop N Save .-History:Established in 1903, Cold Storage started as a small...
(supermarkets), Jasons Market Place/Market Place by Jasons
Market Place by Jasons
Market Place by Jasons or Jasons Market Place is a high end chain supermarket in Singapore, Taiwan and Hong Kong, owned by Dairy Farm Group. It is the sister company of Wellcome.-History:...
(high end supermarkets), Shop N Save (discount supermarkets), Giant
Giant Hypermarket
Giant Hypermarket is a major supermarket and retailer chain in Malaysia, Singapore, Brunei Darussalam, Indonesia, and UAE. It is a subsidiary of Dairy Farm International Holdings .-History:...
(hypermarkets), Mannings
Mannings
Mannings or Guardian is a chain of personal health and beauty retailer offering comprehensive range of pharmacies, healthcare, personal care, skin care and baby care products. It is wholly owned by Dairy Farm International Holdings.-External links:* * *...
/Guardian (health
Health
Health is the level of functional or metabolic efficiency of a living being. In humans, it is the general condition of a person's mind, body and spirit, usually meaning to be free from illness, injury or pain...
and beauty
Beauty
Beauty is a characteristic of a person, animal, place, object, or idea that provides a perceptual experience of pleasure, meaning, or satisfaction. Beauty is studied as part of aesthetics, sociology, social psychology, and culture...
) stores; it also operates 7-Eleven
7-Eleven
7-Eleven is part of an international chain of convenience stores, operating under Seven-Eleven Japan Co. Ltd, which in turn is owned by Seven & I Holdings Co...
(convenience store
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
s) throughout the region, and IKEA
IKEA
IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds and desks, appliances and home accessories. The company is the world's largest furniture retailer...
(home furnishings
Furniture
Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...
) stores in Hong Kong and Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
.
Among 956 stores in South Asia operated by Dairy Farm, 433 are in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, 186 are in Malaysia, 222 are in Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
and 115 are in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. It now employs 56,800 people in the region and has around 2,000 sales from ongoing operations worth 4.5 billion US dollars in total.
History
Patrick Manson
Sir Patrick Manson was a Scottish physician who made important discoveries in parasitology and was the founder of the tropical medicine field....
, a Scottish surgeon
Surgery
Surgery is an ancient medical specialty that uses operative manual and instrumental techniques on a patient to investigate and/or treat a pathological condition such as disease or injury, or to help improve bodily function or appearance.An act of performing surgery may be called a surgical...
, 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
Cattle
Cattle are the most common type of large domesticated ungulates. They are a prominent modern member of the subfamily Bovinae, are the most widespread species of the genus Bos, and are most commonly classified collectively as Bos primigenius...
so as to decrease the price of milk by more than half. The farm was located in Pok Fu Lam
Pok Fu Lam
Pok Fu Lam or Pokfulam is a residential area on Hong Kong Island, at the western end of the Southern District.Pok Fu Lam is a valley between Victoria Peak and Mount Kellet, around Telegraph Bay....
.
In 1890, Dairy Farm built a low-rise brick and stucco building on Lower Albert Road
Lower Albert Road
Lower Albert Road is a road on the Government Hill in the Central area of the Hong Kong Special Administrative Region of the People's Republic of China. The south major entrance of Central Government Offices, where major officials work, is located at the Lower Albert Road and another common...
in Central
Central, Hong Kong
Central is the central business district of Hong Kong. It is located in Central and Western District, on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula...
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
Smoking (cooking technique)
Smoking is the process of flavoring, cooking, or preserving food by exposing it to the smoke from burning or smoldering plant materials, most often wood...
, a cold storage room for winter clothes and residency for the General 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
Hong Kong Fringe Club
The Hong Kong Fringe Club is a not-for-profit organisation in Hong Kong. It is located in the "Old Dairy Farm Depot" at 2 Lower Albert Road in Central, next to the Foreign Correspondents' 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
Kowloon
Kowloon is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. It is bordered by the Lei Yue Mun strait in the east, Mei Foo Sun Chuen and Stonecutter's Island in the west, Tate's Cairn and Lion Rock in the north, and Victoria Harbour in the south. It had a population of...
towards the end of the War
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
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
Lane Crawford
Lane Crawford is a retailing company with specialty stores selling designer label luxury goods in Hong Kong and Beijing, China....
forms a merged food retailing operations and renamed these supermarkets as Dairy Lane under Dairy Lane Limited. The joint business is undone by the acquisition of Wellcome
Wellcome
Wellcome is a supermarket chain owned by Jardine Matheson Holdings via its Dairy Farm subsidiary. The Wellcome supermarket chain is one of the two largest supermarket chains in Hong Kong, the other being PARKnSHOP. Wellcome also operates supermarkets in Taiwan under the Wellcome name...
chain in 1964.
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
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
after it was demerged from Hong Kong Land. Dairy Farm acquired a 50% interest in Maxim's at the same time. The 228-outlet 7-Eleven convenience store chain in Hong Kong was acquired in 1989 from Jardine Matheson.
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
IKEA
IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds and desks, appliances and home accessories. The company is the world's largest furniture retailer...
Hong Kong and Taiwan in 2002.
As of June 2011, Dairy Farm is 78% owned by Jardine Matheson Holdings.
Discontinued operations
- In 1998, Dairy Farm sold out its 49% interest in Nestlé Dairy Farm, set up in 1992 to develop dairy products factories throughout China, to NestléNestléNestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...
; on the merger of Kwik SaveKwik SaveKwik Save was a discount supermarket chain in the United Kingdom until 2007. Its stores were small to medium sized high street supermarkets, mainly located in areas with below average incomes...
with Somerfield, Dairy Farm sold its 11% holding for US$290 million. Dairy Farm acquired 25% of the "No Frills" Kwik Save Group in 1987; Sold the 108-store Simago chain in Spain acquired in 1990. - In March 2000, Dairy Farm sold its half share in DFI Géant, the Taiwan hypermarket opened in 1998 back to Casino, its joint venture partner.
- In 2001, The Company sold the 287-store FranklinsFranklinsFranklins is a discount supermarket chain selling packaged groceries and perishables throughout New South Wales, Australia. It owns the No Frills brand of generic products, promoted by their mascot, "Red Sock". It is known as "Australia's Original Discount Grocer"...
chain in Australia which it acquired in 1979. Its Hong Kong-based distribution business, Sims Trading, was sold to CITIC PacificCITIC PacificCITIC Pacific is a Hong Kong-based conglomerate holding company headquartered in the CITIC Tower, Admiralty, Hong Kong. It is 58% owned by the state-owned Citic Group in Beijing and has shareholders around the world.-Business areas:...
. - In June 2002, the 61-store WoolworthsWoolworths Supermarkets (New Zealand)Woolworths is a New Zealand supermarket chain and a unit of Woolworths Limited.- 1929 - 1979 Woolworths :Founded in 1929 by Percy Christmas, the chain was separated from the parent company Woolworths Limited in Australia and was called Woolworths New Zealand...
chain in New Zealand acquired in 1998, was sold for US$337 million. - In 2004, the Group's Hong Kong ice manufacturing business which began in 1918 was sold for US$107 million.
See also
- The HongsThe HongsThe Hongs were major business houses in Canton and later Hong Kong with significant influence on patterns of consumerism, trade, manufacturing and other key areas of the economy...
- Wellcome/Food WorldWellcomeWellcome is a supermarket chain owned by Jardine Matheson Holdings via its Dairy Farm subsidiary. The Wellcome supermarket chain is one of the two largest supermarket chains in Hong Kong, the other being PARKnSHOP. Wellcome also operates supermarkets in Taiwan under the Wellcome name...
- Maxim'sMaxim's CateringMaxim's is Hong Kong's largest food & beverage corporation and restaurant chain. Founded in 1956 by Dr James Tak Wu and his brother S.T...
- Cold StorageCold Storage (supermarket)Cold Storage is the second-largest supermarket chain in Singapore behind NTUC FairPrice, owned by Dairy Farm International Holdings.It operates 3 supermarket brands in Singapore and Malaysia; Cold Storage , Market Place and Shop N Save .-History:Established in 1903, Cold Storage started as a small...
- Jasons Market Place/Market Place by JasonsMarket Place by JasonsMarket Place by Jasons or Jasons Market Place is a high end chain supermarket in Singapore, Taiwan and Hong Kong, owned by Dairy Farm Group. It is the sister company of Wellcome.-History:...
- Shop N Save
- GiantGiant HypermarketGiant Hypermarket is a major supermarket and retailer chain in Malaysia, Singapore, Brunei Darussalam, Indonesia, and UAE. It is a subsidiary of Dairy Farm International Holdings .-History:...
- Mannings/GuardianManningsMannings or Guardian is a chain of personal health and beauty retailer offering comprehensive range of pharmacies, healthcare, personal care, skin care and baby care products. It is wholly owned by Dairy Farm International Holdings.-External links:* * *...