A Singapore couple invested S$150,000 in an ice-cream shop in 2007; 12 years later, it generated S$20 million

A S$150,000 investment in an ice-cream shop turned into a business generating S$20 million a year within 12 years. Working with a spouse isn't always simple. Money, ownership and business decisions can put pressure on a relationship. Yet several Singapore couples have built sizeable companies together, with each partner taking on a different role as the business grew. Hai Di Lao is one of the biggest examples. Its founders started with very little compared with the scale the company eventually reached.

Four founders started Hai Di Lao with less than 10,000 yuan

Hai Di Lao was founded in 1994 in Jianyang, Sichuan, by two couples; Zhang Yong and his wife Shu Ping, along with Shi Yonghong and his wife Li Haiyan. The starting point was modest. The four reportedly put together less than 10,000 yuan in savings.

Zhang had graduated from a vocational school in Chengdu and spent six years working at a tractor factory on minimum wage. He was reportedly penniless when the restaurant business was being set up.


The early investment was small, but it gave the founders something to build on. Zhang took charge of the operation, while the other founders became part of the ownership and management structure. The company that emerged was very different from the small restaurant they had started.

Zhang became the leading figure in the company. Shu Ping later served as director of management and strategic development.

Shi Yonghong also moved into senior corporate roles. He sits on the boards of Hai Di Lao and Yihai International, the hotpot-condiment business that was spun off from the group.

Li Haiyan has served as a company supervisor since 2009. That division of responsibility became more important as the business grew.

Hai Di Lao is now an international restaurant business with more than 935 outlets worldwide, according to the figures in the source. Its reported sales have reached about US$3.8 billion.

The founders' personal fortunes grew alongside the company, although personal wealth should not be confused with company revenue. Zhang Yong's estimated net worth was US$21.6 billion, while Shu Ping's was put at US$5.1 billion. Shi Yonghong was estimated at US$12.6 billion, and Li Haiyan at US$6.3 billion.

Yihai International added another part to the business story. The condiment maker became a separate listed company after being spun off from Hai Di Lao.

The four founders began with less than 10,000 yuan in combined savings. The business later stretched across international markets and created enormous paper wealth for the people who owned it.