DFI Retail Group
Dairy Farm International Holdings Limited, traded as DFI Retail Group, is a Hong Kong retail company with its legal base in Bermuda. A member of the Jardine Matheson Group, it is a major pan-Asian retailer involved in the processing and wholesaling of food and health and beauty products in the Pacific region and in China. Jardine Strategic, a publicly listed holding company, has an attributable 78 percent stake in the firm. It is listed on the London Stock Exchange, with secondary listings on the Singapore and Bermuda stock exchanges. The head office is in the Devon  House in Taikoo Place, Quarry Bay, Hong Kong. As of 31 December 2020, the Group, its associates and joint ventures operated over 9,997 outlets; Wellcome/Food World (supermarkets), a controlling stake in Maxim's Catering (foodservice), Cold Storage (supermarkets), Jasons Market Place/Market Place by Jasons/Jasons Food Hall (high end supermarkets), Giant (hypermarkets), Hero (supermarkets), Mannings/Guardian (health and beauty) stores; it also operates 7-Eleven (convenience stores) throughout the region, and IKEA (home furnishings) stores in Hong Kong, Macau, Indonesia and Taiwan. The group and its associates and joint ventures operated over 9,997 outlets, employed over 220,000 people  and had total annual sales in excess of US$28.2 billion. History. Dairy Farm was set up in 1886 by Sir Patrick Manson, a Scottish surgeon, and five well known Hong Kong businessmen. They initially aimed to improve the health of Hong Kong people by providing them with non-contaminated cows' milk and to import a herd of dairy cattle so as to decrease the price of milk by more than half. The farm was located in Pok Fu Lam. In 1890, Dairy Farm built a low-rise brick and stucco building on Lower Albert Road in Central for use  as a cold storage warehouse. This warehouse was later renovated and expanded in 1913 to include a dairy shop, a room for meat smoking, a cold storage room for winter clothes and residency for its manager. The building later evolved into the company headquarters until the company moved in the 1970s. The abandoned building was acquired by the Hong Kong Fringe Club, a non-profit-making arts organisation in 1984, and has been carefully restored. This distinctive 19th century building, now known as the Old Dairy Farm Depot, is a well-known landmark in Central providing a wide variety of  cultural activities and performances. In 1904, Dairy Farm began importing frozen meat and opened its first retail store at the Central District depot. The second Dairy Farm store was established on Nathan Road, Kowloon towards the end of the war in 1918. Amongst other things, this store provided fishing boats in Hong Kong with large amounts of ice. In 1960, Dairy Farm and Lane Crawford formed a merged food retailing operations and renamed these supermarkets as Dairy Lane under Dairy Lane Limited. This joint business was undone by the acquisition of the Wellcome chain in 1964. In 1972, Dairy Farm  was acquired by Hong Kong Land, a Jardines subsidiary. In 1986 Dairy Farm was relisted on the Hong Kong Stock Exchange after it was demerged from Hong Kong Land. Dairy Farm acquired a 50% interest in Maxim's at the same time from Hong Kong Land. The 7-Eleven convenience store chain in Hong Kong and Singapore was acquired from Jardine Matheson in 1989. Since 1999, Dairy Farm has continued to expand its footprint by acquiring supermarket and other retail operations in Taiwan, Malaysia, Singapore and Indonesia. Notably, it also acquired IKEA Hong Kong, Taiwan in 2002 and began Ikea 's Indonesian operation in 2014. In May 2012, Dairy Farm bought a 50% stake in the Rustan Supercenters, Inc., the Rustan group's supermarket chain. 36% came from the Tantoco family and 14% from the Spinnaker group. Its holdings increased to 64% in 2015 and 100% in 2017. On March 23, 2018, the entire stake was sold to Robinsons Retail Holdings, Inc. through a stock swap, yielding Dairy Farm 18.25% of Robinsons Retail Holdings, Inc. stock. In 2018, therefore, Rustan Supercenters are fully acquired by Robinsons Retail Holdings the 20.00% of which is owned by Mulgrave Corporation and GCH Investments , wholly owned subsidiaries of Dairy Farm. As of June 2011, Dairy Farm is 78% owned by Jardine Matheson Holdings. In August 2021, Dairy Farm rebranded its trading name to DFI Retail Group. Controversy. Wellcome, a major food retailer owned by Dairy Farm Group, have been cited by the Taiwanese government for 33 labor violations in Taiwan. These include instances of maintaining unsafe work spaces that potentially endangered employees, having staff members work unpaid overtime beyond legal limitations, and refusing pay and rest time to employees.