E and Y special

Dennis Lo, Chairman of Fairwood Holdings Ltd

(China Daily)
Updated: 2010-11-22 07:48

Dennis Lo joined the Hong Kong fast food company Fairwood in 1977 when it had only two outlets. By 1991, he had expanded the business to 52 restaurants and an initial public offering (IPO) on the Hong Kong Stock Exchange.

Using capital raised in the IPO, Lo aggressively expanded the operation both in Hong Kong and on the Chinese mainland. He also developed a chain of casual Italian restaurants.

In 2003, Lo initiated a repositioning of the Fairwood brand to make it "young and unconventional". The company's sales revenue to date this year totals HK$1.6 billion (about $206 million), an increase of 355 percent from 1991.

With the goal to be Hong Kong's most popular fast food chain, Lo said he is committed to continuing improvement in Fairwood's food and dining environment.

His efforts have also resulted in an improvement in the overall standard of Hong Kong's fast food industry.

Deliberate, restrained and modest, Lo has long been known for investing his time and money in public welfare causes, including giving support to charitable organizations and hiring people from all ethnic groups as well as the disabled.

Q&A:

What does a brand mean to company growth?

In my experience, if a company develops rapidly, it will surely encounter difficulties.

When this happened to my company, my colleagues began to think about a change in the company brand that later gained recognition from the public. This is one of my precious experiences.

What did you do after you raised money on the stock market?

The funds raised brought rapid development for the company. As well, during the SARS period in 2003, we undertook more changes to the brand.

After that, my company gained remarkable achievement. I feel proud of it.

What are your future goals?

My biggest goal is to set up 100 outlets in Hong Kong so that I can expand market share. I hope in the long run, Fairwood will become the most popular brand in the fast food industry in Hong Kong.

On the Chinese mainland, our growth is rather slow. I hope Fairwood can smoothly accelerate its pace there.

Do you have any advice to other entrepreneurs?

As a member of management, one should have passion and responsibility for the staff members and shareholders. It is best for society if we create more job opportunities.