SINGAPORE: ST Group Food Industries Holdings Ltd. has disposed of three indirect subsidiaries operating under the Gong Cha brand in the United Kingdom, citing ongoing losses and a strategic shift toward franchising and supply chain operations. The disposal, completed through ST Group’s indirect subsidiary GCTea Ltd., transfers ownership of GCTea Outlets Ltd., GCTea Outlets…
Cenomi Retail, a leading retail partner in Saudi Arabia, has entered into a variation agreement to sell the franchise rights of five prominent brands to Abdullah Al-Othaim Fashion Company. This agreement, an extension of the Share Purchase Agreement dated December 6, 2023, marks a significant shift in Cenomi Retail’s focus towards champion brands. The…