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Business Times
02-07-2025
- Business
- Business Times
Munchi Pancakes modernises traditional min jiang kueh as a ‘national snack'
Heritage foods are finding new life through two Singapore family businesses: Lee Wee & Brothers and Munchi Pancakes are reinventing traditional snacks – otah and min jiang kueh, respectively – with modern flavours and updated formats, going beyond hawker centres to reach younger consumers. [SINGAPORE] Munchi Pancakes is jazzing up traditional min jiang kueh, aiming to raise the pancake's profile as a national snack, and to become the region's go-to brand. In 2014, during their retirement, Calvyn Ng's parents started a min jiang kueh stall in a coffee shop in Yishun. But within a few years, they started looking for someone to take over the physically demanding business. In 2018, Ng and his friend Au Wei Sheng stepped in and took over, managing the stall alongside their day jobs. The stall originally served the traditional pancakes filled with coconut, peanut or red bean, in a folded half-moon shape. But when Ng and Au took over, they introduced a round version which they later dubbed the 'Munchi pancake'. 'From an operational and employee perspective, the traditional shape of min jiang kueh was tiring to make because one would constantly have to clamp it,' said Ng. 'The Munchi pancake is more costly, but easier and less tiring to produce.' A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up He added: 'It also allows more room for fillings, which customers like.' Munchi Pancakes' traditional min jiang kueh. PHOTO: TAY CHU YI, BT A modern round take on min jiang kueh, which has been christened the 'Munchi pancake'. PHOTO: TAY CHU YI, BT These fillings have evolved as well. Chocolate rice was replaced with Belgian chocolate, and crushed peanuts, with peanut paste. Both these tweaks were aimed at improving quality and aligning with what customers wanted, said Au. In 2019, the duo began experimenting with new flavours. Some were based on customer suggestions, such as black sesame, and others came from suppliers such as Biscoff. One new flavour was introduced each year, with the line-up now including kaya and hazelnut. Some flavours are available for both the Munchi pancakes and the traditional min jiang kueh, which the brand still offers today. Others, such as custard, are only available in Munchi pancakes, which are suitable for such cold fillings. The idea was not to reinvent the traditional pancake completely, said Ng, but to introduce a new version that would appeal to younger customers while improving operational efficiency. Surviving the pandemic and scaling beyond The Covid-19 pandemic hurt many food and beverage businesses. But Munchi Pancakes, which was takeaway-only, weathered the storm. This resilience prompted Ng and Au to consider expansion. In 2021, they opened a second outlet in a hawker centre in Fernvale. With sales staying strong, the pair quit their day jobs in 2023 to commit fully to the business. However, it was difficult to find workers willing to put in long hours at a hawker centre; the hawker stall format also had limited economies of scale. Ng observed broader shifts in consumer behaviour as well: 'Coffee shops used to be the main hangout spots. But now shopping malls are where people go.' Shopping malls also house new, attractive concepts from overseas, he noted. So in 2024, Munchi Pancakes opened its first outlet in a mall: City Square Mall. Today, its 26 outlets are split fairly evenly between malls and hawker centres, which enables the brand to reach a broader audience while retaining its roots. To maintain customer interest, Munchi Pancakes also introduced a 'limited-time offering' model. Since 2021, it has launched a seasonal flavour every three months, from pineapple cheese to bandung. If a flavour proves popular, it is added to the permanent menu, with blueberry being an example. Said Ng: 'This keeps customers coming back and gives us a chance to try out new ideas.' The menu today reflects a mix of traditional and modern flavours. Around 60 per cent of sales still come from traditional min jiang kueh, with the rest split between Munchi and mini Munchi pancakes. Future expansion Munchi Pancakes' revenue doubled from 2023 to 2024, enabling the brand to expand. Ng and Au aim to open 20 more outlets by the end of 2025, most of them in malls. While the business remains fully consumer-facing, the team may consider business-to-business sales once it hits about 80 outlets in its local network. Another idea being considered is having a central kitchen to improve consistency and efficiency. However, Ng and Au are cautious, noting that others in the industry have faced significant losses due to high costs and underused space. Branded merchandise – starting with tote bags – will be launched later this year, and a dine-in Munchi cafe concept is being explored for 2027. The company is also looking to collaborate with polytechnics to find ways to vacuum-pack or package Munchi Pancakes so that foreign tourists can bring them home – though these efforts will be costly, said Ng and Au. A regional vision Beyond Singapore, Munchi Pancakes is eyeing neighbouring markets such as Malaysia and Indonesia. There, traditional snacks such as apam balik and martabak are similar to min jiang kueh, which may make the local market more receptive to Munchi. Ng and Au's long-term goal is for Munchi to become the go-to brand when people think of pancakes – not just in Singapore, but eventually across South-east Asia. To build brand awareness among overseas consumers, Munchi Pancakes has opened outlets in high-traffic tourist spots such as Lau Pa Sat in 2023 and Jewel Changi Airport in 2025. As for the risk that their pancakes might be a passing trend, Ng acknowledged the concern, but said the team is always innovating to 'maintain that hype'. 'Some snacks never go out of style,' he added, pointing to household name Old Chang Kee and its curry puffs. Au echoed this: 'So as long as we continue to provide consistency, customer service, fair pricing and something new, we are here to stay.'
Miami Herald
21-04-2025
- Business
- Miami Herald
Bankrupt retail group makes harsh move to dump its strongest brand
Retail chains of all types have faced a hard road over the past few years. From dollar discount outlets to luxury department stores, thousands of stores across the country have closed underperforming locations or shuttered entirely. Don't miss the move: Subscribe to TheStreet's free daily newsletter The Covid-19 pandemic forced businesses to lock their doors for weeks or months, and once things started to open back up, it was too little, too late for some outlets. While brick-and-mortar stores tried to stage their comebacks, shoppers were spending more time online. There was one clear pandemic winner, however: e-commerce. Post-pandemic shoppers simply have not returned to stores with much enthusiasm. Initially, they didn't like the social-distancing rules, but now it just seems like shoppers prefer the convenience of shopping from home. The Vitamin Shoppe, with headquarters in Secaucus, New Jersey, has hung on and come up with creative offerings, even as it faces significant competition from larger retailers like Walmart and Target, and from the king of e-commerce, Amazon. There is also growing competition from direct-to-consumer supplement brands like Ritual and Athletic Greens. In response, the company pursued an omnichannel strategy, investing in digital tools, subscription services, and loyalty programs to entice customers. More on retail and bankruptcy: Walmart store closing, auctioning off laptops and flat screen TVsHome Depot CEO sounds the alarm on a growing problemFamous restaurant files for Chapter 11 bankruptcy The Vitamin Shoppe also just debuted a new concept in a handful of locations. Called Hometown, the store-within-a-store concept features locally owned wellness products. And The Vitamin Shoppe recently launched a telehealth service, matching customers with licensed medical providers who can write prescriptions for medications such as the in-demand weight-loss drugs Ozempic and Mounjaro. When The Vitamin Shoppe's parent company, The Franchise Group, filed for Chapter 11 bankruptcy protection in November 2024, it caught some in the industry by surprise. The bankruptcy filing "appears to be unrelated to the performance of the retailer of nutritional supplements," according to Supply Side Supplement Journal. The Franchise Group also owns Pet Supplies Plus, Badcock Home Furniture, Buddy's Home Furnishings, and Sylvan Learning, but The Vitamin Shoppe is its most well-known brand. According to court documents, the company listed around $2 billion in debt when it filed for protection. Next month, on May 12, the company has a hearing to seek approval of its reorganization plan. Related: Parents should pay attention to Target's baby food recall Well ahead of that hearing, The Franchise Group announced it will sell The Vitamin Shoppe to Kingswood Capital Management and Performance Investment Partners for $193.5 million. This news is surprising, since The Vitamin Shoppe, which has 650 company-operated stores, announced expansion plans as recently as 2023, including signing new franchise partners. The company launched its franchise program in 2021 after 46 years in business. In a statement, Kingswood Partner Michael Niegsch and Performance Investment Partners Mark Genender said they plan to "partner with The Vitamin Shoppe team and help them build upon the success the business has enjoyed over the last forty-eight years." It could be a profitable acquisition for investment firms, since this retail sector seems to be thriving. According to The Global Wellness Institute, the so-called global wellness economy reached $6.3 trillion in 2023 and could reach $9 trillion by 2028. The supplement business alone was valued at $481.2 billion in 2024. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
