Oriental grocer, Wing Yip has been placed 242 in The Sunday Times Grant Thornton Top Track 250. Published this weekend, the 15th annual league table ranks Britain’s private mid-market growth companies with the biggest sales.
Wing Yip appears alongside other established brands in the league table including Dr Martens, Travelodge and Virgin Active, and fast-growing brands such as Princess Yachts, Busy Bees and Medivet.
Soon approaching its 50th anniversary with two generations now at the helm, Wing Yip has achieved sales of £118.8 million, up by 8% and an operating profit of £4.1 million up by 19%. The company has boosted jobs across the UK, employing 390 staff, including store managers, development chefs, marketeers, tech experts, and financial and retail teams.
This year, the company has been carrying out a major development of its Birmingham business centre, with the 1.7-acre site of its original supermarket undergoing a facelift ahead of its 50th anniversary in 2020. Wing Yip has recently renovated the space at the site making way for a more open landscapes space featuring a new parade of 11 multi-purpose units which are all accessible to local businesses.
Wing Yip has also recently invested in a new retail park in Cardiff, which they are letting out to a handful of tenants. Businesses signed up already include DIY store Wickes and Metrobank, and there will also be a drive-thru unit, run by a food or drink operator.
Wing Yip Director, Brian Yip comments: “We are thrilled to be included in the league table of Britain’s private mid-market growth companies! As a specialist Chinese grocery entering the UK market in 1970, the business has faced many challenges thus far, but this is a great achievement for us and is testament to the hard work and effort of all our staff, as well as our loyal customers who support what we do.
“We have experienced significant expansion over the last ten years, and we are keen to continue seeking other potential sites to acquire and build fruitful, long-lasting partnerships with key organisations in the food market. We have lots of reasons to be positive about what the future holds, and the re-development and expansion of our sites, will no doubt help us to grow further still.”