After getting caught in continuous negative publicity, 85°C indeed entered a challenging phase of trying to “stop the bleed.” From closing some stores in Shanghai and Xuzhou to exiting from Zibo and Zhengzhou. In 2022, 85°C closed its operations in Changsha and Wuhan, officially announcing its complete withdrawal from the Wuhan market.
The well-known dumpling restaurant Ding Tai Fung, whose second-largest shareholder is the Wu family of Taiwan’s Tai Ho Group, hinted in 2021 about selling their shares. Globally, Ding Tai Fung operates over 160 stores with annual revenues nearing $150 million US dollars. However, in 2020, their revenue plummeted by 25%, leading the major shareholders to possibly consider cashing out upon seeing developmental limitations.
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Famous Taiwanese Brands Like Din Tai Fung, 85°C, RT-Mart & BA Fang Dumpling Speed up Exit From China
