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From Dairy Farm to Asia's Leading Retailer
The story of DFI Retail Group dates back to 19th century Hong Kong, when Scottish surgeon Sir Patrick Manson and five businessmen embarked on a venture to improve the health of the Hong Kong community by breeding imported cattle locally, and to ensure a daily supply of disease-free fresh milk at an affordable price - a challenging move as the herd had to adapt to Hong Kong's sub-tropical climate. From such modest beginnings, DFI has expanded and reinvented itself over the decades to become one of Asia's most dynamic and reputable companies. Today, DFI is primarily into retailing with a focus on supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants. The Group commands a leadership position in many key Asian markets and has upheld its principles for quality products, business integrity and commitment to the community. These historical milestones highlight key dates and events and are a record of the many defining moments in the making of a very unique and special company.
1886
1886
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1947
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1947
1886
The Dairy Farm Company Limited was incorporated in Hong Kong by Scottish surgeon Sir Patrick Manson and five prominent Hong Kong businessmen, with a capital of HK$30,000 and 80 head of cattle. The Company's founding objectives were: to improve the health of Hong Kong people by supplying clean and uncontaminated cows' milk at an affordable price and to realise a profit for its shareholders.
1889
Dairy Farm posted a profit of HK$3,385 in 1888, following a HK$13,187 loss in its first year. In 1889, profits improved to HK$4,374.
1892
Dairy Farm established a Central depot in Lower Albert Road, Hong Kong. The building now houses the Foreign Correspondents' Club, Hong Kong and the Hong Kong Fringe Club.
1899
Dairy Farm started importing butter from Australia.
1900
Dairy Farm started rearing pigs and fowl to provide pork, poultry and eggs. It began supplying in bulk to ships, hospitals and the military.
1904
Dairy Farm opened its first retail store at Lower Albert Road, Hong Kong. It began importing frozen meat from Australia.
1911
Dairy Farm bought Butterfield and Swire's frozen food business, its first major corporate acquisition.
1916
Dairy Farm's central depot was reorganised to form Hong Kong's first supermarket/delicatessen.
1918
Dairy Farm opened a second store in Manson House, Nathan Road, Kowloon, Hong Kong. It bought the Hong Kong Ice Company and changed its name to The Dairy Farm, Ice & Cold Storage Company Limited.
1924
Dairy Farm built a state-of-the-art ice factory at East Point, Hong Kong.
1928
Dairy Farm produced 1,000 gallons of milk daily, as well as fresh meat, cream and ice cream. It operated six retail stores in Hong Kong and delivered to consumers in Macau and the major coastal Chinese cities.
1936
Dairy Farm's 50th anniversary. The Company introduced protective capping on bottles. This enhanced its already renowned reputation for strict hygiene.
1941
Dairy Farm opened new offices in the first Windsor House on Des Voeux Road, Central, Hong Kong. Japan invaded Hong Kong.
1946
END OF WORLD WAR II. Hong Kong liberated. Dairy Farm quickly recovered and recorded a net profit of HK$1,519,292.
1947
Dairy Farm launched an aircraft catering kitchen at Kai Tak Airport in Hong Kong.
1948
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1994
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1994
1960
Dairy Farm and Lane Crawford merged their respective food retailing operations to form Dairy Lane Limited.
1964
Dairy Farm acquired the Wellcome grocery chain founded in 1945 by Wu Chung-hai and Lau Lin. It bought out Lane Crawford's share of Dairy Lane Limited.
1967 - 70
Dairy Farm began its overseas expansion. It took stakes in various Australian companies. It opened an aircraft catering kitchen in Guam, bought the Simarloo fruit and nut farm and a beef ranch in Australia, and expanded its catering services to mining camps in Australia and Indonesia. It entered the wholesaling sector and extended its range of dairy products and frozen foods on sale.
1972
Dairy Farm was acquired by Hongkong Land. It retained its independence, its established operating structure and corporate personality. Phil Oram remained as Managing Director until his retirement in 1981.
1973
Dairy Farm acquired Singapore-based Fitzpatrick's Food Supplies (Far East) Ltd.
1976
Dairy Farm acquired 51% of Manning Dispensary Ltd, a chain of three pharmacies run by a Hong Kong medical practice. Central Depot reverted to the crown, ending its 72-year association with Dairy Farm.
1979
Dairy Farm signed an agreement to obtain 18 tonnes of daily milk supplies from the Kwangming farm in Shenzhen. It acquired Franklins' chain of 75 "No Frills" stores in Australia.
1980
Dairy Farm made history by forging the first ever Sino-Foreign joint venture following Deng Xiaoping's Open Door reforms. The joint venture operated the flight kitchen for Beijing Airport.
1981
Phil Oram retired. Owen Price took over as Dairy Farm's Managing Director.
1983
The end of an era. Dairy Farm's herd of cows at Pokfulam were sold off. Dairy Farm began disposing of its Australian farming and ranching interests.
1985
Dairy Farm signed an ice-cream factory joint venture with the Guangdong Foods Industry Corp. to form the Guangzhou Refrigerated Foods Ltd.
1986
Dairy Farm's centenary. In December, the Company was demerged from Hongkong Land and re-listed on the Hong Kong Stock Exchange. As part of the demerger, Dairy Farm took over a 50 percent interest in Maxim's from Hongkong Land.
1987
Dairy Farm acquired 25 percent of Kwik Save - the sixth largest supermarket chain in the United Kingdom. It began supermarket operations in Taiwan.
1989
Dairy Farm acquired the 7-Eleven chain of convenience stores in Hong Kong from Jardine Matheson. It sold the Simarloo Farm in Australia.
1990
Dairy Farm acquired the 108-store Simago Supermarket chain in Spain and the 61-store supermarket chain, Woolworths, in New Zealand.
1992
Dairy Farm opened five 7-Eleven stores in Shenzhen. It sold 51% of its dairy manufacturing businesses in Hong Kong and Guangzhou to Nestlé. Nestlé bought the Dairy Farm brand name and licensed it back to the Company for 50 years.
1993
Dairy Farm bought Singapore Cold Storage with a network of 142 stores. Owen Price retired as Managing Director. Graeme Seabrook took the reins.
1994
Dairy Farm signed a letter of intent to set up three supermarkets in Shanghai, Shenzhen and Guangzhou, and formed a 50-50 supermarket joint venture with Cold Storage (Malaysia).
1995
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2005
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2005
1995
Dairy Farm established four Wellsave supermarkets in Japan through a 60 percent-owned joint venture (closed in 1997). It opened five joint venture Wellcome Gintian supermarkets in Shenzhen (closed in 1999). Dairy Farm signed a Technical Assistance Agreement with RPG Spencers, which operated eight Foodworld supermarkets, in India. In Indonesia, it forged a Technical Assistance Agreement with Mitra, a chain of discount stores owned by the PT Hero group.
1996
Graeme Seabrook retired. Chris Nelson was appointed interim Chief Executive.
1997
Chris Nelson retired. Ronald J Floto was appointed Group Chief Executive. Dairy Farm opened a 50-50 joint venture health and beauty chain, Health and Glow, in India and reached a Technical Assistance Agreement in Indonesia, with Rajawali, to run the Guardian pharmacy chain. It sold its remaining 49% stake in Nestlé Dairy Farm to Nestlé.
1998
Dairy Farm disposed of Kwik Save in the United Kingdom , the Simago chain in Spain and closed down Mannings in Taiwan. It bought 32 percent of PT Hero, a 71-store supermarket chain in Indonesia, and opened a Géant hypermarket in Taiwan, a joint venture with Casino of France. In Malaysia, it increased its stakes in the Wellsave supermarket chain and in the 59-store Guardian pharmacies giving it control of both.
1999
Dairy Farm acquired 90% of Giant Malaysia with two hypermarkets and five supermarkets. In India, it acquired a 49 % holding in the Foodworld supermarket chain.
2000
Dairy Farm sold its 50% interest in DFI Géant in Taiwan to joint venture partner, Casino. It acquired 23 Apex stores in Singapore, which were folded into its Guardian operations, and expanded its supermarket operations in Taiwan with the acquisition of 12 Maysoon stores.
2001
Dairy Farm completed the sale of Franklins in Australia and its Hong Kong-based wholesaling business, Sims Trading. It acquired the remaining 10% of Giant Malaysia. Its 65% held joint venture, Guangdong Sai Yi Convenience Stores Ltd, became the first convenience store joint venture to obtain approval from the Government of China to operate in Southern China.
2002
Dairy Farm completed the sale of Woolworths, New Zealand. It formed a 50/50 joint venture with the CJ Corporation, investing US$5 million in the health and beauty chain, Olive Young in South Korea. It acquired IKEA Hong Kong and Taiwan from Jardine Matheson.
2003
Dairy Farm acquired the 22-store Kayo supermarket chain in Taiwan. Its Indonesian associate, PT Hero, acquired 22 Tops supermarkets from Ahold. It also acquired 34 Tops supermarkets in Malaysia from Ahold, which where rebranded as Giant and Cold Storage. In Singapore, it acquired 35 Shop N Save supermarkets increasing its supermarket network to 75 stores.
2004
Dairy Farm acquired the Daily Stop chain of convenience stores in Hong Kong and rebrands them under the 7-Eleven name. It sold its last non-retail business, ice manufacturing.
2005
Dairy Farm increased its attributable interest in PT Hero in Indonesia to 69% following two tender offers and the purchase of a minority shareholding. In India, it introduced new joint venture partnered in Foodworld and Health and Glow. It entered the Thai market with the opening of its first Guardian stores. 7-Eleven and Mannings entered the Macau market in the same year. Dairy Farm posted an underlying net profit of US$190 million.
2006
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2016
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2016
2006
Dairy Farm's 120th anniversary. It marked the milestone by sponsoring the conversion of two of the original octagonal cowsheds in the old Pokfulam farm into a performance area and cinema space, named the Wellcome Theatre, by the Hong Kong Academy for Performing Arts. The facility contained a 150-seat auditorium and an adjacent foyer/exhibition area.
2007
Ronald J Floto retired. Michael Kok was appointed Group Chief Executive. 7-Eleven South China acquired 110 Quik convenience stores in Guangzhou rebranding them as 7-Eleven. 7-Eleven Hong Kong launched its new concept store focusing on fresh and fast food. A three-year refurbishment programme commenced to convert the majority of the 822 outlets into the "fresh food" format.
2008
Mannings China opened its first stores outside Guangdong province in Beijing City. During the year, Mannings China also extended its reach to Nanjing, Chongqing and Shanghai. The first Giant hypermarket was opened in Brunei, offering lower prices and greater choices for customers.
2009
7-Eleven South China opened its 550th store in New City Zhujiang, Guangzhou on 16th October. Mannings Hong Kong reached a milestone by opening its 300th store in December.
2010
Giant opened its first supermarkets in Brunei to complement existing hypermarkets and health and beauty stores.
2011
Maxim's opened its first Chinese restaurants in Shanghai and Guangzhou, and added three Genki Sushi outlets in Shenzhen and Guangzhou during the year. In Vietnam, five new Guardian outlets were opened during the year. Dairy Farm's Indonesia business passed the 500-store milestone in the country during the year.
2012
Michael Kok retired. Dairy Farm entered the Cambodian market through the acquisition of a 70% interest in a company that operated seven Lucky supermarkets and nine fast food outlets in the country. Dairy Farm also entered the Philippines market by acquiring a 50% interest in Rustan's Supercenters, which operated ten Shopwise hypermarkets, 13 Rustan's supermarkets and nine Expresslanes supermarkets.
2013
Graham Allan was appointed Group Chief Executive. Shop N Save supermarkets in Singapore were converted to the Giant brand. Maxim's opened its first Starbucks store in Vietnam. A joint venture was established to operate mini-marts in Malaysia trading as 'G EKSPRES'. The first Guardian health and beauty store opened in Phnom Penh, Cambodia.
2014
Dairy Farm divested its 49% shareholding in Foodworld and 50% shareholding in Health and Glow to its joint venture partner. The Group acquired an additional 16% interest in Rustan in the Philippines, bringing its ownership to 66%. An agreement was reached to establish a strategic partnership with Yonghui Superstores Co., Ltd and to acquire a 19.99% shareholding in the company at approximately US$925 million. Dairy Farm entered the Philippines Health and Beauty market through the acquisition of a 49% stake in Rose Pharmacy Inc. The first IKEA store opened in Indonesia.
2015
Dairy Farm met the local regulatory requirements in Malaysia with the divestment of 30% of the ordinary shares in its food retail business, GCH Malaysia. Dairy Farm also acquired the 15 store supermarket chain in Macau, San Miu, reinforcing its well-established retail presence in the territory. Maxim’s launched operations in Cambodia as a franchisee of Starbucks at the end of 2015.
2016
Maxim’s acquired the franchise of the Italian patisserie and restaurant COVA in Hong Kong and Macau. Maxim’s also opened the first “The Cheesecake Factory” restaurant in Shanghai Disney Resort and launched the first mx cakes and bakery franchise through joint venture in Thailand. IKEA created new pick-up points in Hong Kong, Macau and Taiwan to provide more convenient options for its customers closer to home.
2017
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2022
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2022
2017
Ian Mcleod was appointed Group Chief Executive. The Philippines Rustan became a wholly owned subsidiary following the acquisition of the remaining interest from the Group’s joint venture partner. Maxim’s acquired the existing businesses and franchises of Genki Sushi in Singapore and Malaysia and of Starbucks in Singapore. Maxim’s also opened its first The Cheesecake Factory in Hong Kong.
2018
7-Eleven South China opened its 1000th store in Guangzhou and enters Maoming, Yangjiang, and Zhanjinag with presence in up to 11 cities in China.
IKEA Taiwan opened the 100-dollar pop-up store in Taipei and Taichung to enhance the proposition of a low-price brand in the Taiwan market.
2019
The Group launched a new Own Brand, Meadows, offering products with outstanding quality and value to customers.
7-Eleven Singapore marked a milestone by reaching 400 stores.
IKEA Taiwan celebrated its 25th anniversary and set up the “Blue Bag Fund” in Hong Kong, Macau and Taiwan to support local communities, promote sustainable development, and improve the lives of the needy.
2020
The Group launched yuu, the first digital platform and the biggest customer rewards club to connect customers and more than 2,000 outlets.
Wellcome launched “Low Prices Locked” programme in Hong Kong to shoulder the cost pressures with the community. Market Place completed brand revamp and introduces new store format to elevate shopping experience.
Giant Singapore was store refreshed with a new brand logo and invested in price reduction on products. The Group completed the integration of Wellcome Taiwan and Carrefour.
7-Eleven South China expanded its network to 1,400 stores in Guangdong province.
Mannings launched Community Pharmacy Service in Hong Kong and began its Own Brand transformation journey. Guardian launched concept store in Malaysia to celebrates its 53rd anniversary.
Maxim’s acquired the businesses and franchises of Starbucks in Laos.
2021
Corporate brand refreshed from Dairy Farm to DFI Retail Group.
The Group relaunched its own Brand Yu Pin King to promise great quality, taste and price.
The first Wellcome Fresh unveiled in Kennedy Town, combining both traditional wet markets and supermarkets together.
Wellcome Hong Kong partnered with Foodlink to launch the rice donation programme “Sik Jor Fan Mei” to provide healthy and nutritious food to those in need.
Market Place x IKEA opened the world’s first “IKEA Close to you” in Discovery Bay Hong Kong.
Cold Storage opened new flagship store, CS Fresh Gold, in Singapore.
7-Eleven Hong Kong reached its 1000th store milestone.
2022
yuu Rewards Club was expanded to Singapore while yuu launched online shopping platform ‘yuu to me’ in Hong Kong.
7-Eleven South China celebrated its 30th anniversary. 7-Eleven Singapore’s first beachfront store opened on Sentosa Palawan Beach.
Meadows won the Grand Gold presented by Monde Selection and another 130+ International Taste Quality Awards organized by International Taste Institute.
Mannings Hong Kong celebrated its 50th anniversary.
Guardian launched “Together, Keeping Kids Clean and Healthy” community service programme across its Southeast Asia markets, as part of the #guardiancares initiative to help children from low-income families stay clean and healthy.
Giant, Cold Storage, CS Fresh in Singapore and Malaysia expanded Hong Kong’s “Sik Jor Fan Mei” rice donation programme to Southeast Asia in the following year. Singapore launched "Have You Eaten?” with Food Banks and “Sudah Makan?” with The Lost Food Project in Malaysia to donate food to the needy.
7-Eleven Hong Kong launched “Sik Tak Fan La” charity programme in collaboration with Pei Ho Counterparts to offer hot meals and food supplies to the elderly and homeless.
7-Eleven's Own Brand, 7CAFÉ in Hong Kong introduced 100% Rainforest Alliance Certified Arabica coffee beans together with fully biodegradable paper cups and lids, living up to its commitment to “Good Coffee. Now Greener.”
IKEA Taiwan completed the installation of 740kWp solar panel on the rooftop of Kaohsiung IKEA Store, The system has the capacity to generate about 900,000kWh of electricity annually, which is equivalent to the electricity usage of 220 households for a year in Taiwan.
2023
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2023
Scott Price was appointed Group Chief Executive.
Mannings launched “Helping Kids Grow Happier, Healthier, and Stronger” charity campaign with The Hub Hong Kong to improve nutrition and wellbeing of local unprivileged children.
Wellcome celebrated its 78th anniversary with great promotional offers. Market Place opened its largest flagship store in Hong Kong at The Wai.
7-Eleven “Sik Tak Fan La” charity programme expanded to the Greater Bay Area to help reduce hunger.
Guardian Cambodia launched #guardiancares Programme by collaborating with a local non-profit organisation “Pour un Sourire d’Enfant” (PSE) to support the education of underprivileged children in Cambodia.
Cold Storage celebrated its 120th Anniversary in Singapore, remaining steadfast in its commitment to putting the customers first always.
The Group became one of the first Asian retailers to receive validation from the Science Based Targets initiative (SBTi) for its near-term emissions reduction targets, aligned with its criteria and recommendations.
2024
Wellcome became the first retail company in Hong Kong to introduce the European-made 24-ton Electric Truck, marking a pivotal step in the Group commitment to sustainable development.
The Group and The School of Professional Education and Executive Development at Hong Kong Polytechnic University (PolyU SPEED) signed a Memorandum of Understanding to launch Hong Kong's first Qualifications Framework (QF) Level 6 retail programme, equivalent to a master's degree.
7-Eleven Hong Kong launched the "Grounds to Green" Coffee Grounds Upcycling Programme, converting used coffee grounds from 7-Eleven's own brand 7CAFÉ into organic fertiliser at a local farm using a food waste composter. These vegetables are cooked into hot meals and donated to 10 charities in Hong Kong, helping those in need.
