Lady M to Close All Mainland China Stores

This is an English adaptation of a FoodBud historical article originally published on July 20, 2022.

On July 21, 2022, bakery chain Lady M announced it would close all of its stores in mainland China.

Lady M, founded in 2001, has long been positioned as one of the leading premium French-style cake brands in the bakery chain category.

Financing and Expansion Context

In June 2022, Bloomberg reported that Lady M was seeking a new funding round of USD 20 million, which could value the New York-based chain at USD 600 million.

People familiar with the matter said the funding was intended to support Lady M's expansion in Asia, especially by opening more stores in China. The company was also considering possible strategic acquisitions of other bakery chain brands.

China Footprint

Lady M entered the China market in 2017 with its first store. At the time of the report, the brand operated more than 50 stores globally and 30 stores across Greater China.

Note: Financing, valuation, expansion, and store-count figures are historical as reported in 2022.