KAfe Group now a subsidiary of Hong Kong company

The owner of KAfe Cuisine Limited Liability Company is now KAFE Hong Kong Limited according to a change of information made with the government in March, which was established on January 12, 2015 and is based in Hong Kong.

The change in information also noted that three representatives of KAfe Group's charter capital - Phuong Chi Mai, Nguyen To Thang, and Nguyen Gia Huy Chuong - had been replaced by Nguyen Khanh Cuong, who also became the new CEO.

Registered capital of the KAfe Group under the new business registration fell compared to the end of 2016, from nearly VND245 billion (US$10.8 million) to VND236.8 billion (US$$10.84 million). The entire capital of the enterprise is still registered as foreign investment.

More than a year ago, the KAfe Group received investment of US$$5.5 million from Cassia Investments, a Hong Kong-based company that specializes in China and Southeast Asian markets. 

“We see the potential of the KAfe Group and look forward to working closely with leaders of the company to ensure continued success,” Faris Ayoub, CEO of Cassia Investments, said at the time.

KAfe was launched in 2013 by Ms. Dao Chi Anh, a chef and author of cookbooks and cooking programs, and is a European-Asian food chain aimed at young consumers, featuring four brands: The KAfe, The KAfe Village, The KAfe Box, and The Burger Box.

After nearly three years of operations, the company was the subject of changes in its governance structure. 

Ms. Anh left the position of CEO at the end of October 2016 and the KAfe Group suddenly became a wholly foreign-owned company with charter capital increasing from VND16 billion (US$$700,000) to VND245 billion (US$$10.8 million).