Former TVB leading actress Natalie Tong’s venture into high-end Japanese toast retail has hit turbulence, with her flagship store in Hong Kong’s Causeway Bay reportedly seeing a dramatic drop in customer traffic just over a year after its high-profile launch. Once a major success powered by celebrity buzz and innovative products, the rapid decline in popularity suggests that star power may not be enough to sustain a premium business model amid shifting consumer sentiment and persistent operating costs.
The Rise and Rapid Cooling of a Celebrity Brand
Following her departure from the long-running television network in 2022, Ms. Tong, a former “TV Queen,” redirected her energy toward a personal passion: Japanese-style baking. After training in Japan, she partnered with associates to open 33Cubread in October 2024. Capitalizing on its prime location and the novelty of its signature “dice croissants,” the bakery was an instant sensation, drawing long queues daily. This initial success prompted quick expansion, including opening additional branches in high-traffic commercial districts like Central and Sha Tin, seemingly defying challenging economic conditions.
However, recent reports indicate the initial frenzy has evaporated. Exclusive footage from the Causeway Bay location reveals a stark contrast to the early days of excitement; the store now appears largely deserted, even during peak shopping hours, with staff numbers occasionally exceeding customers. Shelves, once instantly cleared, are reportedly stocked with unsold loaves, a clear sign that the early limits on purchases are long forgotten.
Ms. Tong herself was recently observed at the flagship store, appearing visibly concerned. Dressed in casual attire rather than the bakery uniform she often wore during the launch phase, she was seen consulting with business partners, meticulously inspecting the premises, perhaps searching for answers to the dwindling foot traffic.
High Prices and Operational Headwinds
Sources familiar with the bakery’s finances suggest the venture faces significant operational pressure. The specialty toast and baked goods are priced around HK$50 (approximately US$6.40) or higher, a cost some online commentators have labeled “ridiculously expensive.” This perceived disparity between price and value has been identified as a key factor in the sharp decline of consumer interest.
The financial strain is concrete. Insiders claim the daily revenue has dipped significantly to only four figures, a figure insufficient to cover the staggering monthly operating expenses, which reportedly exceed HK$160,000. These costs include an estimated monthly rent of HK$80,000 for the prime location, along with staffing and other fixed overheads.
Despite the initial rapid return on investment during the lucrative first half-year of operation, the bakery is now reportedly struggling to break even, requiring Ms. Tong to personally subsidize the monthly shortfall.
Seeking New Recipes for Success
Known for her resilience after navigating the volatile entertainment industry for decades, Ms. Tong is reportedly not giving up on her flagship business. She and her team are focusing on proactive solutions, including the intensive development of new flavors and the planning of innovative marketing strategies designed to reignite customer engagement.
Crucially, Ms. Tong has been utilizing her enduring career in media and acting to generate necessary capital. She continues to secure endorsements and search for performance opportunities, using this supplementary income to provide crucial financial life support for the 33Cubread enterprise.
The narrative of 33Cubread serves as a cautionary tale within Hong Kong’s volatile retail food sector: While celebrity endorsement can guarantee explosive initial attention, sustained success relies on competitive pricing, consistently high value, and adapting to consumer feedback, especially in a market where operational costs are notoriously high. As Ms. Tong pivots to save her entrepreneurial dream, observers will watch to see if her determination can translate into long-term commercial viability.
