Louisa Coffee to submit OTC listing application next year: Chairman

Taipei, Sept. 8 (CNA) Louisa Coffee plans to apply next year to list its shares on the local over-the-counter (OTC) market, company chairman Huang Ming-hsien (黃銘賢) said Monday.

At a news conference, Huang said Taiwan's largest coffee shop chain -- whose shares are currently traded on the local emerging market -- had initially planned to file its OTC listing application in June.

However, he said, to comply with government requirements for information security and to further develop multiple brands beyond its core coffee chain, the company postponed its plan.

In Taiwan, a company must trade its shares on the emerging market for at least six months before applying to list on the main board or the OTC market.

In addition to its coffee chain, Louisa has launched several other brands, including Louisa Bakery, Sun Berno vegetarian restaurants, Jiuyang tea and food shops, Danshenchuishi hot pot restaurants, and Cing Yan steak houses.

The company has also expanded into the sports sector, opening its first "Self Room" fitness center in Taipei, with more outlets planned in the Greater Taipei area.

Huang said Louisa aims to expand its coffee shop network to 600 outlets by the end of 2026, up from the current 550.

Speaking to reporters at the opening of the fifth Cing Yan steak house at Miramar Garden Hotel in Taipei, Huang said the steak chain will expand to Tainan and Kaohsiung later this year, with the total number of outlets expected to reach 15 by year's end. Louisa also opened a new coffee shop in the hotel on Monday.

Looking overseas, Huang said Louisa will establish a joint venture to open its first U.S. coffee shop by the end of this year.

With its multi-brand strategy and continued expansion, Louisa expects sales to double next year, following a 36 percent year-on-year revenue increase in the first eight months of this year, Huang said.

To address the labor shortage in Taiwan's food and beverage industry, Louisa has developed an automated system that allows customers to check in and place orders, while also raising wages by about 20 percent over the past six months to retain employees.

Construction on Louisa's new headquarters in Xinzhuang, New Taipei, began in July and is scheduled for completion by the end of 2027.

The complex will include a central kitchen, logistics facilities, and a smart information and administrative center, according to Huang.