Part 4/14:
Singapore's flagship Heidi store, at Clark Key, announced its impending closure due to lease expiration, serving as a symbolic blow to the brand's presence in the region. The trend isn't confined to Heidi; reports indicate that in 2024 and early 2025, China's restaurant industry shut down over 4 million stores with a closure rate exceeding 61%, illustrating an industry-wide contraction.
Similarly, Jill Mao Jill, a Hong Kong-listed chain once as popular as Heidi, has seen its market value evaporate by over 48 billion yen over four years—a collapse of 94%. Since 2021, the brand’s revenue plummeted, and in 2025, it closed dozens of stores, including entire regions such as Shenan City and parts of Shanghai.