Food­panda launches in Ja­pan

BusinessMirror - - Companies -

De­liv­ery Hero Se’s Food­panda is launch­ing op­er­a­tions in Ja­pan Thurs­day, ex­pand­ing its Asian foot­print to the world’s No. 3 econ­omy.

The com­pany will roll out its meal de­liv­ery ser­vices in six Ja­panese cities in a first phase, in­clud­ing Kobe, yoko­hama and Nagoya, Jakob An­gele, Food­panda’s Asia Pa­cific chief ex­ec­u­tive of­fi­cer, told Bloomberg Tv’s rishaad Sala­mat and Juli­ette Saly. The firm will ini­tially in­vest €20 mil­lion ($23.5 mil­lion) in the ef­fort, he added.

Food­panda’s en­try will es­ca­late com­pe­ti­tion with ex­ist­ing play­ers in the mar­ket in­clud­ing De­mae-can Co., Uber eats, Fine­dine, Maishoku, rakuten De­liv­ery and Ama­zon Ja­pan.

Ja­pan’s food de­liv­ery mar­ket is at a nascent stage com­pared with more ma­ture mar­kets like Hong Kong and Tai­wan, ac­cord­ing to An­gele. “There­fore, we do see a very large op­por­tu­nity and a very clear path for Food­panda to be­come the mar­ket leader in Ja­pan,” he added.

es­tab­lished in 2012, Food­panda now op­er­ates in more than 300 cities across the Asia Pa­cific, de­liv­er­ing meals and gro­ceries. Ber­lin-based par­ent De­liv­ery Hero an­nounced in De­cem­ber it would take con­trol of South Korea’s big­gest food de­liv­ery app, Woowa Broth­ers Corp., at a $4 bil­lion val­u­a­tion.

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