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).
19-752: The head office is in the Devon House in Taikoo Place , Quarry Bay , Hong Kong . 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
38-704: 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. Its holdings increased to 64% in 2015 and 100% in 2017. 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. In 2018, therefore, Rustan Supercenters are fully acquired by Robinsons Retail Holdings
57-478: 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
76-562: A license to operate IKEA stores in Indonesia. In 2016, the company sold its mini-market "Starmart" operation to PT Fajar Mitra Indah (part of Wings Group ), under which the stores would operate as FamilyMart with new ownership. The rapid growth of convenience stores and e-commerce in Indonesia shifted consumer behavior to online shopping. This shift resulted in the company downsizing its Giant outlets starting 2019. In 2021, CEO Patrik Lindvall said that management has closely seen
95-608: 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. 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
114-461: Is a subsidiary of DFI Retail Group and is indirectly owned by Jardine Matheson . Focusing on middle-income segment customers, the company's first store opened in 1971. As of 2022, the company operates 341 stores throughout the country. The roots of Hero Supermarket could be traced back to 1954, where a 19-year old Muhammad Saleh Kurnia started "CV Hero" with his brother, Wuo Guo Chang. 5 years later, his brother quit, and Kurnia had to continue
133-749: 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
152-597: The 20.00% of which is owned by Mulgrave Corporation and GCH Investments, wholly owned subsidiaries of Dairy Farm. As of June 2011, Dairy Farm is 78% owned by Jardine Matheson Holdings. In August 2021, Dairy Farm rebranded its trading name to DFI Retail Group. On 5 May 2022, the company subsequently changed its legal name to DFI Retail Group Holdings Limited, effectively phased out the Dairy Farm branding. On 19 April 2024, DFI's subsidiary PT Hero Supermarket Tbk announced it would divest its supermarket businesses along with
171-571: The Wikimedia System Administrators, please include the details below. Request from 172.68.168.150 via cp1114 cp1114, Varnish XID 922855357 Upstream caches: cp1114 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 07:44:35 GMT Hero (supermarket) PT Hero Supermarket Tbk , commonly known as Hero , is one of Indonesia 's largest retailer groups, which operates Hero hypermarkets and supermarkets , Guardian Healthy & Beauty Stores and IKEA . It
190-460: The business In 2002, the group started its Giant hypermarket operation. In 1998, the founders issued a convertible bond for US$ 36.4 million, which was purchased by Mulgrave. In 2010, Mulgrave exercised the convertible bond for 24.54% stake in the company, making DFI Retail Group the new majority shareholder of PT Hero Supermarket Tbk. MPPA protested the action and went separate ways to build its own store "Hypermart". In 2014, Hero acquired
209-431: The business himself. In the 1960's, Kurnia realized that many Indonesians and expatriates often travel to Singapore just to purchase western imported food and beverages. He saw an opportunity to import the goods directly to Indonesia. After receiving advice from his Canadian friend Charles Turton, Kurnia and his wife (Nurhayati) traveled to Singapore to learn how Singaporean stores were configured. Then in 1971,
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#1732779875610228-553: The couple opened the first Hero store in Kebayoran Baru , Jakarta . During Indonesia's New Order period, Hero and its competitor Gelael stores were the only major supermarkets in Jakarta, with Hero operating 9 stores in Jakarta alone. Most Indonesians purchased their groceries in the wet markets , while supermarkets were considered prestigious and restricted to the upper class. The company went public in 1989 where
247-436: The founders retaining 50.1% ownership. The remaining shares were held by MPPA Retail Group (part of Lippo Group ) with 10.42%, Mulgrave ( DFI Retail Group ) with 7.63%, SSV Netherland BV with 10.20%, and retail public investors with 21.65%. In 1990, Hero started its Guardian Pharmacy operation and the mini-market "Starmart" the following year. In 1992, the founder MS Kurnia passed away. His son Ipung Kurnia took control of
266-528: 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
285-472: 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. 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
304-667: The rights to the Hero brand to PT Hero Retail Nusantara for 135 billion rupiahs . Wellcome, a major food retailer owned by Dairy Farm Group, have been cited by the Taiwanese government for 33 labor violations in Taiwan. 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. Taikoo Place Too Many Requests If you report this error to
323-445: 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
342-571: The trends of the global hypermarket industry, with Walmart , Carrefour , and Tesco moving away from the industry. Consumers preferred to shop in smaller nearby stores. The company decided to close the Giant brand effective 31 July 2021. It blamed the COVID-19 pandemic and changes in consumer behavior. With the closure of Giant brands, the company will focus on the operations of Hero, Guardian, and IKEA. The opportunities for Hero Supermarket in
361-412: The upper-class supermarket segment appear promising and less fragile. The company believes the new brand portfolio focus, mainly Guardian and IKEA, offers sufficient diversity and will serve markets outside the upper-class segment. The company converted the previous Giant stores to IKEAs or Hero Supermarkets. PT Hero Supermarket Tbk planned to divest its supermarket businesses along with the rights of
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