坊 here is the older reading fāng meaning 'workshop / shop' (as in 作坊, 磨坊). In branding it evokes an artisanal shop; pair with an adjective like 豪 'grand' and you get dozens of food and tea-shop names across China.
common two-character element in food and beverage brand names (bakeries, tea shops, restaurants); 豪 'grand' + 坊 'workshop / lane' reads like 'grand workshop'
