“Everything is about national security. It is about mercantilism. It is about friend‑shoring,” she says. “We went from just-in-time to just-in-case, getting resources from where we think is most secure. The efficiency of trade and globalization, low tariffs and efficiency, is not part of the equation.”
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On the other hand, the company actively sought breakthroughs. It planned to use IPO proceeds to advance digitalization, upgrade its supply chain, and expand overseas. It also rolled out corrective measures in 2025, such as tiered complaint-response protocols and shortening the shelf life of fillings, while accelerating its overseas rollout. As of September 30, 2025, it had 53 stores overseas; peak daily turnover at its Singapore stores reached SGD 12,000, making Southeast Asia the company’s core overseas expansion battleground.
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