案例库 · 战略与领导 · 战略决策 · 2016–2026
Hao Mart 的 51 家门店帝国缩水到六家——高端 Eccellente 系列没了
2021 年最多 51 家门店,如今只剩六家:Hao Mart 的 2025 财年亏损达 4960 万新加坡元,最后一家高端 Eccellente 门店在 2026 年 6 月关闭
Hao Mart · Hao Corp · 2026-08
怎么回事
Hao Mart 由 Tan Kim Yong 博士于 2016 年创办,在黄埔通道 74 座开出第一家店。它扩张很快——2021 年 12 月达到 51 家的峰值——并层层叠加业态:普通超市和迷你超市、一个卖生鲜和国际食品的高端 Eccellente 概念,以及位于乌节路、从业主 OG 处承租的五层旗舰商场 Taste Orchard。
经济账从没跟上。Hao Mart 在 2023 财年亏损 2320 万新加坡元、2024 财年亏损 3280 万新加坡元、2025 财年亏损 4960 万新加坡元,营收在 2025 财年跌到历来最低的 1100 万新加坡元。门店版图同步崩塌:2022 年 12 月剩 38 家,2024 年 12 月剩 20 家——当《海峡时报》在 2026 年 3 月走访全部 20 个列出的地点时,只有七家在营业。竞争对手直接搬进空出来的位置,Sheng Siong 和 Value Dollar 都接手了前 Hao Mart 的店铺。ACRA 因公司未按时提交年度申报而对其采取执法行动。
到 2026 年 8 月初只剩六家门店营业,最后一家 Eccellente 门店——Marina Square——于 6 月在自然租约到期时关闭,这个高端概念就此终结。崩盘如今已进入法庭。
OG 就 Taste Orchard 租约起诉 Hao Mart 索要 660 万新加坡元,其中包括 560 万新加坡元的欠租;Tan、他的妻子和 Hao Mart 反过来对 OG 提出 5750 万新加坡元的共谋索赔,OG 又指称 Hao Mart 欠它 7350 万新加坡元。Hao Mart 就 Taste Orchard 的租赁起诉了 PropNex 的一个部门和一名中介,索赔 350 万新加坡元,前分租户 Belovie 起诉 Hao Mart 索赔超过 44.5 万新加坡元。
为什么会这样
- 这家连锁扩张门店数量和业态花样的速度,超过任何一家能回本的速度;亏损逐年扩大,营收却逐年萎缩
- 从 OG 这样的业主手里租下乌节路五层旗舰店,把一次零售押注变成了一纸还不起的租约义务
- 网站仍列出 20 家门店而实际只有六家在营业——标称网络和真实网络之间的差距说明,收摊跑在了记账前面
教训
没有单店经济账的扩张,最终会走进业主的法庭:Hao Mart 2021 年在新加坡冲到 51 家门店;到 2026 年 8 月剩六家,拖着 4960 万新加坡元的 2025 财年亏损和五起高等法院诉讼。
后来呢
截至 2026 年 8 月初,六家 Hao Mart 门店在新加坡营业,八家以上 Eccellente 门店全部关闭。这家连锁深陷与业主 OG 关于 Taste Orchard 租约的高等法院诉讼,双方索赔加起来达数千万。2025 财年的数据在 2026 年 1 月才向 ACRA 迟交。
资料来源
- The Straits Times — "Hao Mart shuts stores, sinks deeper into losses with four High Court lawsuits looming", 23 April 2026 (website lists 20 outlets but only seven operating when ST visited all locations in second half of March 2026 — six regular stores plus one premium Eccellente at Marina Square; footprint peaked at 51 stores December 2021, 38 in December 2022; loss of $49.6 million for FY ended March 31, 2025, revenue fell to lowest at $11 million in FY2025; $32.8 million FY2024, $23.2 million FY2023, $2.2 million FY2019; OG sued Hao Mart October 2025 for $6.6 million alleging lease breach incl. $5.6 million rent arrears; Tan Kim Yong, wife Teo Siew Ling and Hao Mart sued OG and its in-house lawyer January 2026 for $57.5 million alleging conspiracy; OG counters Hao Mart owed $73.5 million by October 2025; Hao Mart sued PropNex unit and agent for $3.5 million over Taste Orchard lease misrepresentation; Belovie sued Hao Mart for more than $445,000; Sheng Siong, Value Dollar took over former Hao Mart spaces; founded 2016 by Dr Tan Kim Yong, first store Block 74 Whampoa Drive)
- The Straits Times — "Last of Hao Mart's upscale Eccellente outlets closes at Marina Square", 4 August 2026 (Eccellente Marina Square appears to have closed in June after lease expired; all of Hao Mart's Eccellente outlets have ceased operations; at least eight Eccellente outlets existed; ST visits Aug 1–3 found only six stores operating, in Bedok, Canberra, Pasir Ris, Bukit Panjang, Potong Pasir and Whampoa; website still listed 20 outlets on Aug 4; loss of $49.6 million for FY ended March 31, 2025, third consecutive year of widening losses; five High Court lawsuits; SingLand spokesperson: natural lease expiry, no outstanding matters)
- Vulcan Post — "Hao Mart Shuts Stores as It Bleeds Millions & Faces Lawsuits", April 2026 (13 of 20 listed outlets confirmed closed; peak 51 stores December 2021, 20 by December 2024; FY2025 S$49.6 million loss, up from S$32.8 million FY2024 and S$23.2 million FY2023 following two years of profitability; in the red since 2023 per ACRA records; four pending High Court suits incl. dispute with landlord OG over termination of lease for flagship five-storey Taste Orchard mall on Orchard Road; ACRA enforcement action for failing to file annual returns within six months of FY end; FY2025 figures filed belatedly in January 2026; founded by Dr Tan Kim Yong in 2016, first store Block 74 Whampoa Drive)
发现哪里写错了?告诉我们。
类似的案例
这家公司栽倒的地方,别处有人漂亮地解开过。 第二意见 →

Comments · 0
登录 后就能评论。