How Hong Kong’s old businesses are adapting to new times
In the second of a two-part series on Hong Kong’s economic transformation, Ambrose Li and Wynna Wong profile three established enterprises that have rejuvenated their brands and reinvented their businesses. Read part one here. Late into the night, Hong Kong football fans in their twenties, thirties and forties sat in Lin Heung Lau restaurant on Wellington Street watching World Cup matches over…
Hong Kong's established businesses are adapting to changing customer habits and finding new revenue streams without losing their core identity. The approach varies, but can include creating new experiences, modernizing back-end systems, implementing artificial intelligence (AI), or empowering younger generations to experiment.
In the case of Lin Heung Lau, a century-old dim sum restaurant, chairman Rocky Wong Hei-yan extended operating hours during the World Cup to attract a younger crowd and promote the brand. Despite the restaurant's traditional association with elderly customers, Wong aimed to preserve its yum cha atmosphere while reaching out to middle-aged and younger patrons. The investment in new marketing and business strategies has proven profitable, attracting about 95% of the menu across five locations, including one at the airport.
Winnie Peng Qian, director of Hong Kong University of Science and Technology's Roger King Centre for Asian Family Business, cautioned against expecting rapid or radical innovation from century-old family businesses. Instead, such companies could innovate gradually while adapting their traditions to remain relevant to their environment.
In the case of On Kee Dry Seafood, a family-run business since the 1930s, transformation has been less visible but no less extensive. The company has made traditionally expensive dried gourmet seafood more affordable by creating mouth-sized snacks and diversifying into ready-to-eat options, such as frozen and pre-cooked seafood, soups, and desserts.
This adaptation caters to Hong Kong's busy lifestyle preferences and has proved popular with younger shoppers.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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