Headline

 



Japanese convenience chain FamilyMart ventures into Malaysia

A typical FamilyMart store in Japan. A typical FamilyMart store in Japan.

QL Resources Bhd, which produces chicken eggs and seafood surimi, is diversifying into the convenience store business by becoming Malaysia's master franchisee for the world's second largest convenience store chain FamilyMart Co., Ltd.

The company plans to open 300 outlets within five years, or 60 stores per year, with the first to be operational by end-2016. The location of the first outlet has not been decided.

In a filing with Bursa Malaysia today, QL Resources said its wholly-owned subsidiary Maxincome Resources Sdn Bhd earlier in the day signed the area franchise agreement for the development and operation of Japan-based FamilyMart convenience stores in Malaysia.

The 20-year agreement is renewable for subsequent periods of 20 years each at Maxincome's option and becomes conditional once the company successfully registers as a franchisee with Ministry of Domestic Trade, Co-operatives and Consumerism, the filling said.

In a separate statement, QL Resources said the Japan-based FamilyMart provides a strategic downstream expansion of QL Resources' existing food and manufacturing distribution businesses.

The convenience store chain is known for its wide range of quality, ready-to-eat food and beverage offerings besides convenience items.

"FamilyMart's philosophy and values resonate with QL Resources' mission of providing nourishing agro-based products for the benefit of all. Their emphasis of delivering quality food is also a value that QL Resources, as a food company, values and sees synergy in," said QL Resources in the statement.

"In addition to this synergistic effect, this expansion is a long-term investment which also opens up bigger growth opportunities in the consumer market for the group. It fits into our strategy of strengthening and expanding integration of the group's value chain," it added.

QL Resources said that FamilyMart's brand could be favoured as consumer lifestyle increasingly demands convenience with a comfortable and enjoyable experience.

"Among the factors weighing in their (FamilyMart) favour are the increasing urbanisation and per capita consumption, young population demographic, and a growing trend of proximity and convenience retail," it said.

FamilyMart meanwhile said it has an exciting opportunity in Malaysia, where the economy is growing and consumer spending is on the increase.

"This expansion into Malaysia is in line with our growth strategy and in QL Resources, we have found a partner who has the capability and integrity to develop the brand with us in this country," it added.

It said that this venture is one that will have a long gestation period, and thus, will not have a material financial effect for its financial year ending 31 March 2017 (FY17).

In October 2013, FamilyMart opened its 10,000th store in Japan. As of March this year, FamilyMart operates a total of 17,540 stores in Japan and across 6 other Asian countries including 2,952 stores in Taiwan and 1,306 stores in Mainland China.

Malaysia's convenience store industry, which makes up just a fraction of the country's grocery retail market, is still dominated by 7-Eleven Malaysia Holdings Bhd, where 82% of stores in the category were of the group's as at March 2014.

On 18 June 2014, 7-Eleven opened its 1,600th store in Solaris Dutamas featuring a new concept look and feel. It has 1,944 stores in the country as of the end of December 2015 and it plans to open 200 stores per year.

Recently listed Bison Consolidated Bhd, the operator of 255 outlets comprising brands such as myNEWS.com, Newsplus, MagBit, The Front Page and WH Smith (in airports), is considered the second largest retail convenience network in Malaysia after 7-Eleven. It plans to open 115 new stores by end of 2017.

 

Rate this item
(2 votes)

14 comments

  • RobertNib
    RobertNib Tuesday, 15 August 2017 02:49 Comment Link

    virtual city casino 50
    online roulette
    judi keno online
    online roulette
    craps best gambling game

    Report
  • ThomasDar
    ThomasDar Sunday, 13 August 2017 03:13 Comment Link

    play blackjack for money app
    online casino roulette paypal
    best online poker casinos
    online roulette real money best
    online gambling resource for online gambling

    Report
  • HaroldNix
    HaroldNix Saturday, 12 August 2017 17:40 Comment Link

    online gambling south africa
    casino bonus sites
    online casinos western union banking
    online casinos based in canada
    live online casinos uk

    Report
  • MartinMax
    MartinMax Saturday, 12 August 2017 05:02 Comment Link

    can i get a prescription for viagra online
    viagra cost
    india online pharmacy viagra
    viagra coupons 2017
    prices cialis vs viagra

    Report
  • RobertHoine
    RobertHoine Thursday, 10 August 2017 08:28 Comment Link

    best place to order cialis online
    order cialis
    how to use cialis pills
    cialis online
    cialis 20mg pills sale

    Report
  • Davidber
    Davidber Saturday, 22 July 2017 22:13 Comment Link

    kamagra sale in uk
    kamagra oral jelly
    cheapest kamagra online uk
    kamagra online
    buy kamagra tablets india

    Report
  • cialis for sale uk
    cialis for sale uk Thursday, 13 July 2017 01:54 Comment Link

    what do cialis pills do
    buy cialis viagra online
    cialis malaysia where to buy
    cialis blue pills
    can you buy cialis online no prescription

    Report
  • cialis buy in uk Slups
    cialis buy in uk Slups Tuesday, 11 July 2017 13:30 Comment Link

    cialis for sale
    generic cialis
    small order cialis
    cialis cost
    cheap cialis rx

    Report
  • cheapest price generic cialis Slups
    cheapest price generic cialis Slups Sunday, 09 July 2017 13:43 Comment Link

    what color are cialis pills
    cialis
    cheapest way to buy cialis
    cialis prices
    pills like cialis

    Report
  • mighty slots casino download Acaby
    mighty slots casino download Acaby Sunday, 09 July 2017 11:19 Comment Link

    find ultimate blackjack website
    online roulette for real money
    best slots game
    roulette
    online gambling casino for real money

    Report

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

xxxlogo

At PTLM, everything we do is with integrity, commitment and innovation as to facilitate information dissemination so that you could make well-informed decision.

 

Subscribe With Us


Invalid Input

Most Popular

Recent News

Our Gallery