Hong Kong's identity as a foodie paradise has always been closely tied to vibrant foreign investment. People from around the world settling in Hong Kong for work or frequently travelling here on business has led to the emergence and popularity of certain cuisines. Through gradual accumulation, Hong Kong has become one of the easiest places to "eat your way around the world".
It is against this backdrop that Hong Kong is home to many restaurants backed by multinational F&B groups. Over different periods, they have introduced new elements to Hong Kong's dining scene, shaping the food ecosystem we see today. Bulldozer Group is one example.
F&B group Bulldozer Group focuses on upscale dining, with over 80 restaurants spanning Dubai, Miami, Moscow and more. Valued at over US$1 billion, the group has built its reputation on acquiring restaurants and repositioning them to introduce international cuisine into local markets.
In 2016, it used Hong Kong as a foothold for the first time to expand its Asian F&B empire. At its peak it owned 4 restaurants in Hong Kong. The pandemic led to a slight decline over the past two years. But this year, they have decided to restart investing in Hong Kong by opening X restaurants. This is remarkable given the gloomy economic outlook for Hong Kong across sectors.
Creating an immersive foreign experience
Eager to understand how these F&B giants view today's business landscape in Hong Kong, I visited their Peruvian restaurant ICHU in Central to speak to co-founder Alexandor Orlov.
Stepping into the restaurant, I noticed the decor was markedly different from when it first opened under previous owners. Everything from the furniture to artwork has been carefully designed to create an elegant, non-traditional vibe. Marble yellow desk lamps adorn each table, while the wooden chairs have a brick lattice pattern. Apparently the restaurant was not just renovated, but completely overhauled in terms of decor and art to evoke a refined foreign ambience.
Alexandor explained their core business is running upscale exotic cuisine in different cities. So creating an experience through space and food is paramount. They are willing to invest heavily to craft menus and environments that emphasise the cultural value of the cuisine, transporting customers to another place the moment they step inside. This is the number one prerequisite for the restaurants' success.
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Capturing Hong Kong's diverse food culture
But isn't the shortage of foreign tourists in Hong Kong common knowledge nowadays? Why still venture into Hong Kong?
Alexandor acknowledges the current climate is far from ideal, but believes it will improve in a few years.
His rationale is Hong Kong itself is a foodie haven, where both locals and visitors are highly accepting and embracing of different cuisines. So introducing relatively niche European options like Spanish, Mediterranean or even Middle Eastern food, combined with Hong Kong's already adept Asian selections, will create a strong environment for the F&B business.
He believes the tourism slump is mainly due to insufficient flights to Hong Kong and uncompetitive pricing. At the same time, he has observed that internationals generally perceive Hong Kong's overall business environment to be weak, with shops not opening on the streets. Because of these two factors, he finds Europeans with spending power nowadays would rather go to the Middle East than Hong Kong.
This probably requires concerted efforts across government and industries to reshape external perceptions of Hong Kong.
Leaving the restaurant, I saw Alexandor discussing with the manager how to adjust the angle of the curtains. It struck me that for a high-end restaurant to succeed, let alone become a group with distinct yet successful brands, is extraordinarily difficult. There are many fine dining establishments in Hong Kong, but not all pay such close attention to details. Some focus only on superficial glamour without consideration for the dining experience, which greatly diminishes the overall experience.
“When I walk into a restaurant, I can see all the problems immediately. If the music is too loud, the lights are too bright or there are other issues, I will notice them straight away. You need good instincts... Even now when I travel, I still observe in this way. You can never stop learning,” Alexandor said in a February interview with Arabian Business.
