TAIPEI (Taiwan News) — Cloud kitchen startup JustKitchen has been growing rapidly in Taiwan since setting up shop in 2019 and is now eyeing expansion overseas.
Speaking at a press conference in Taipei on Wednesday (May 5), JustKitchen CEO Jason Chen (陳星豪) said that the company went public on the Toronto Stock Exchange (TSX) Venture Exchange in Canada on April 15, which was then followed by a listing on the Frankfurt Stock Exchange in Germany on April 26. JustKitchen is planning to list in the U.S. at the end of May.
The startup specializes in the development of delivery-only food brands to customers across Taiwan. The company uses a hub-and-spoke model of operation which sees advanced food preparation taking place at larger hub kitchens before being sent out to smaller spoke kitchens for the last leg of preparation after which the food gets delivered through Uber Eats.
CEO Jason Chen speaking at event. (JustKitchen photo)
The company began operations in March 2020 and has since seen sales grow by an average of 40 percent each month, while the first quarter of 2021 saw up to a 120 percent increase (compared to the third quarter of 2020), according to Chen. JustKitchen currently handles around 3,000 orders a day, which translates into roughly 90,000 orders a month.
They currently operate a central hub kitchen situated in Taipei’s Neihu district along with 15 satellite kitchens located in Taipei, New Taipei City, Taoyuan, Taichung, and Kaohsiung. The plan is to have around 25 spoke kitchens up and running by the end of this year and 35 set up by the end of 2022.
JustKitchen currently has 14 of its own proprietary brands along with six partnerships with established food brands like Formosa Chang and TGI Friday’s. The company is set to open its first overseas kitchen in Hong Kong in June, with plans to expand to Singapore, the Philippines, and the U.S.
Formosa Chang is one of JustKitchen's partner brands. (JustKitchen photo)