Middle income sector to leverage focus on wellness: Joongshik Wang of Ernst & Young
He sees an increasing demand for healtier food within the middle income class.
Joongshik Wang has over 20 years of experience as a strategy and M&A consultant in Southeast Asia, China and Korea. Currently based in Singapore, he is leading the Strategy and M&A practice focusing on consumer goods and retail, e-commerce, and digital technology. Wang is known as a trusted commercial advisor through his M&A success with emerging SEA consumer and technology unicorns.
Prior to joining Ernst & Young, he was a partner at a leading consulting firm, focusing on strategy and private equity services in Singapore and Korea.
Wang earned his MBA from University of Chicago Booth and his master and bachelor's degree from Yonsei University, Seoul, Korea.
He will be amongst the panelists for the mini session on investments in the upcoming QSR Media Detpak Conference and Awards on the 24th of January 2018 at the Grand Copthorne Waterfront Hotel in Singapore.
QSR Media: What are your previous experiences and positions held that contributed to who you are as an industry expert today?
I have been an advisor for over 20 restaurant deals in the Asia-Pacific region for financial investors such as private equity funds. The deals we get come from sub-sectors such as quick service restaurants, casual dining, as well as Chinese and western food and beverage companies.
QSR Media: What are your key business philosophies?
I generally start with gathering knowledge and information on the demand-side, such as the market size and customers’ needs. Competition is the least important – the most critical thing is to offer a profitable operating model that allows scalability.
QSR Media: What have you learned within the investment industry?
I learned that advising a successful investment or M&A is least dependent on the history, but more on future-forward thinking.
QSR Media: What trends have you observed in the food industry?
One of the trends that I’ve observed is that ready-to-eat food is becoming more popular. Also, I’m seeing the rising middle income sector to leverage focus on healthier food and wellness. Lastly, e-commerce will surely gain market share.
The QSR Media Asia Detpak Conference and Awards will be on January 24 at the Grand Copthorne Waterfront Hotel Singapore from 8:30 AM to 4:55 PM.
If you are interested to attend the conference, you may contact Nikki at email@example.com or at +65 3158 1386 ext 238.
Learn more about the event here.
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