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| What Happened to 33 Cubread? Natalie Tong’s Bakery Reportedly Under Pressure (Photo: Yahoo HK) |
Natalie Tong’s bakery venture 33 Cubread is reportedly facing slowing business just over a year after its high-profile launch in Causeway Bay. Once known for long queues and sold-out shelves, the Japanese-style toast shop is now said to be dealing with reduced footfall and mounting operating costs.
The former TVB Best Actress stepped into the F&B world in October 2024, opening 33 Cubread in one of Hong Kong’s busiest districts. Backed by her celebrity appeal and Japanese artisan supervision, the brand quickly went viral. At its peak, customers lined up around the block for a taste of its signature toast, and the early success even led to expansion plans with additional branches.
Fast forward a year and four months, and the scene appears very different.
Local reporters who recently visited the Causeway Bay flagship store over several days observed noticeably lighter traffic, even during lunch-hour peak times.
Display shelves were reportedly filled with unsold bread, and customers were described as coming and going without the once-familiar queue outside.
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Natalie Tong herself was spotted at the shop on occasion, said to be actively monitoring operations.
In the evenings, the bakery was seen rolling out limited-time “buy three, get one free” promotions to boost sales and clear daily inventory.
While not a permanent offer, the move sparked discussion about whether the brand is adjusting its strategy to cope with slower turnover.
Sources claim the shop’s daily revenue currently reaches only a few thousand Hong Kong dollars, while monthly expenses — including rent, staff wages, utilities and supplies — reportedly total around HKD160,000.
If accurate, that would place the business in a tight balancing act. There are also claims that Natalie has been personally covering shortfalls to keep the bakery running.
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Price quickly became the hottest talking point online. 33 Cubread’s signature toast is priced at roughly HKD50 per piece, and some customers have questioned whether the cost matches everyday expectations.
Comments across forums suggest that while many were initially drawn by curiosity and star power, repeat purchases depend heavily on perceived value.
That said, not all reactions were critical. A number of fans defended Natalie Tong’s pricing, pointing out the premium ingredients, branding and central location in Causeway Bay.
Others argued that Hong Kong’s challenging retail climate has affected many independent businesses, not just celebrity-led ones.
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One common sentiment summed it up neatly: “The hype brings people in, but quality and pricing keep them coming back.”
Interestingly, reports also note that Natalie’s personal living standards appear unchanged.
In recent years, she has upgraded her residence from Tseung Kwan O to North Point, and there are claims she is now renting a spacious Mid-Levels property with an estimated monthly rent of around HKD120,000.
While her bakery may be under pressure, her overall financial situation does not appear visibly impacted.
Still, business is business. Running a physical store in a high-rent district like Causeway Bay is never easy, even for a recognisable name.
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Natalie Tong has not publicly addressed the reports in detail, but insiders say she is actively developing new products and refining marketing strategies to bring customers back through the doors. Whether that means menu revamps, adjusted pricing, or stronger promotional campaigns remains to be seen.
For now, 33 Cubread stands at a crossroads — a reminder that celebrity backing may spark a boom, but sustainability requires long-term strategy.
What do you think — is this just a temporary dip after the initial hype cycle, or does 33 Cubread need a serious reset to stay competitive? Would you pay HKD50 for a premium toast in Causeway Bay?