Petaling Jaya: Loob Holding Sdn Bhd’s Tealive is set to announce expansion to three countries next month.
Founder and CEO Brian Lu said the brand’s strategy is to focus on regional growth and strengthen its market presence.
“Tealive is very focused on regional expansion. This year we are expanding Tealive into three new countries and we expect to be ready to announce by next month. That is our consistent mission.
“Last year, we entered three new markets. We hope to activate the market by the first and second quarters of this year,” he said. sambar Toasts today at Bask Bear Coffee and Village Park Restaurant.
Loob said Tealive always aims to enter three new markets each year. We held this event last year and plan to hold it again this year, and will make announcements each time.
Mr. Lu said he was still considering an initial public offering (IPO) for Lube, but would leave it to his private equity partner Cradle.
“I would say that the plan (IPO) was always there, but we didn’t manage that plan…because we left that effort to our private equity partners to take charge of it. As we all know, an IPO is a very difficult journey… and even if we do an IPO, we don’t actually We want to make sure that we don’t lose our connection with our business. So the goal with our partner is that she focuses on her IPO, while we focus on the business. So when it comes to IPOs, to be fair, it’s not very clear when the actual timeline will be, but I have to say it’s always in the works,” Lu said.
He said Loob’s overall outlook remains positive given Tealive’s strong brand equity and growth in the face of increased competition.
“Loob has experienced fairly steady growth over the last year… thanks to Tealive still having very strong brand equity in the market and a lot of competition that has created a lot of demand across the segment. Tealive has a total of 870 stores and has been able to capitalize on the growth in demand,” he explained.
Meanwhile, Basque Bear Coffee currently has 115 stores and is aiming for further growth in Japan.
Lu said Basque Bear is shifting its focus to expanding malls rather than shop lots in order to have a more balanced outlet presence across Malaysia.
“Bask Bear has always been more of a shopping street than a shopping mall. Now we have stores all over Malaysia. We are now focusing our efforts on expanding Bask Bear stores in shopping malls. In the future, perhaps in a year’s time, we hope to have a balance between stores within the mall and shop lots in different areas,” he added.
