Vertex Portfolio Spotlight | Innovation in a Centuries-old industry
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The History of Chocolate
Human beings have indulged in chocolates for centuries. Researchers found evidence that people in South America were consuming cacao-based products for more than 5,000 years [1]. The cacao bean was so significant to the local cultures that it was used as a currency in trade and given to warriors as a post-battle reward. Chocolate first arrived in Spain in the 16th century and it did not take long to become deeply ingrained in popular cultures across Europe and America [2].
Today, over 4.8 million tons of cocoa beans are consumed annually around the globe, from drinks to candy bars [3]. While Western markets still dominate in terms of consumption, Asian and Middle Eastern consumers are quickly catching up [4][5][6][7][8] (Figure 1).
Introducing Chef Janice Wong and Janice Wong Singapore
Janice Wong is a renown and multi-award winning Singaporean chef. She has learned from some of the world’s best chefs, including US luminaries Thomas Keller and Grant Achatz, virtuoso Spanish chocolatier Oriol Balaguer, and prodigious French pastry chef Pierre Hermé.
Her first dessert restaurant 2am:dessertbar, redefined the dessert experience and pushed the boundaries between sweet and savoury, introducing a delectable experience to the Singapore foodies since 2007. In 2014, the Janice Wong Singapore brand was formally established to market a wide range of confectionery creations, including their signature chocolate bon bons, cakes and ice-cream.
Janice Wong Singapore truly embraces food technology and innovation. Chef Janice Wong’s efforts in experimenting with ingredients, cooking techniques and machines led to an array of innovative creations including edible art, 3D printed chocolates and many others. This kickstarted a flurry of business expansion activities that propelled the company to the international stage, including Japan and London.
Unbeaten by the Pandemic
The global pandemic was, unsurprisingly, a major blow to the business. Production of chocolates, cakes and confectioneries almost came to a halt. To stay unbeaten, Janice kept creating and innovating. From offering new “Bake at home” pre-mix products to filming online how-to videos, Janice and her team experimented and found new ways to engage with their customers. Determined to overcome the pandemic’s blow, the team took advantage of the opportunity to market her signature chocolate products and accelerate the existing online business growth. Today, the global confectionery market stands at around USD 220B, of which APAC contributes over USD 40B and growing [9]. We believe the Janice Wong Singapore business is well poised to address this thriving market.
Our Interview with Chef Janice Wong
We chat with Janice to understand what inspires her to keep innovating in this centuries-old industry, and what excites her in the near future.
1. How did the Chef Janice Wong journey started?
Growing up, I had the good fortune to live in countries like Japan and Hong Kong which shaped my palette and my open mindset towards food. My love for food, design and art grew and I decided to head to Australia and France during and after university to broaden my knowledge and experiences. While in Australia, I recalled visiting a farm and tasting a strawberry freshly plucked from the plant. The explosion of taste - sweetness, sourness, earthiness and grassiness, made me realised that there was so much more to ingredients and food experiences and I wanted to bring that back to Singapore.
2. What does the Janice Wong Singapore brand stand for?
Janice Wong Singapore is an extension of my imagination and it represents sweet confectioneries pushing the boundaries of taste and innovation. We set out to create a nostalgic and novel sweet experience for people through edible art in a confectionery box, a ceiling or even on a wall.
3. In your opinion, what are the most important trends that are shaping the confectionery industry and how have these influenced the way you think about your products?
Food trends are rapidly changing across countries and adaptation is key to our growth and success. We need to engage with our customers with more honesty about the processes, ingredients and beliefs in our products. The plant based and less sugar movements have garnered huge awareness in the last 10 years and are more prominent now than ever. Today, consumers globally are becoming more conscious and thoughtful about what they are consuming and who they are supporting.
4. What does "FoodTech" mean to you and the business?
FoodTech is the future and it is very important in our business growth. We believe FoodTech will help us understand our consumers and their consumption habits better. With this knowledge, we will be able to create better products for our consumers. With advancements in machinery technology, we will be equipped to efficiently create and produce our products. Likewise, with digital technology, we will be able to serve our customers expeditiously with new and integrated experiences.
5. Could you share a sneak preview of what lies ahead for Janice Wong Singapore, locally and globally?
Janice Wong Singapore recently launched a new range of keto-friendly and plant-based dessert offerings that are simple and approachable, featuring comfort classics such as cakes, ice-creams, truffles and pastries in familiar flavours that are well-loved by most Singaporeans. Soon, we will launch a new ice cream concept featuring ice creams, toppings and motion animations that will provide a multi-sensory dessert experience. We are also embarking on a new Bean-to-Bar line of chocolates that showcases a unique and first-of-its-kind way of making chocolate, similar to what we have done with the confectioneries. Janice Wong Singapore will also expand our brand presence and business partnerships in Japan, London and other new markets.
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