Koufu: Fortune of an Entrepreneurial Singapore Hawker

Abstract

This case traces the rags-to-riches entrepreneurial journey of Mr Pang Lim in building his Koufu food court business empire over the past decades amidst the changing landscape of the food and beverages industry in Singapore. After dropping out of school at 13 years old, Mr Pang started work as a dishwasher in the 1960s. However, his entrepreneurial acumen enabled him to seize strategic opportunities and adapt to changing environmental forces to become the owner of Koufu, a leading food court chain in Singapore. When Koufu was founded in 2002, the food court business in Singapore was already dominated by other major players such as Food Junction and Kopitiam. Yet, through astute management, clearly defined market segmentation strategies, and a significant focus in brand-building, Koufu grew into an international food court empire. By 2012, it consisted of 54 food courts in Singapore, one food court in Macau, and annual revenue of $152.7 million. Koufu also grew to become one of Singapore's most established F&B brands with many sub-brands in its stable. This case is suitable for use in Marketing Strategy and Strategic Marketing courses. Key marketing and branding theories and concepts illustrated in this case include macro-environment and micro-environment analysis; segmentation, targeting and positioning strategies; and branding architectures (i.e., house of brands, branded house, house brand).