Loob to set up 10 corporate stores in China this year

Flagship store: Loo (left) and Saifuddin at the opening of the first Tealive outlet in China.

SHANGHAI: Loob Holding plans to set up 10 corporate stores in China this year before franchising its Tealive bubble tea business to local entrepreneurs in the world’s second-largest economy.

The Malaysian based food and beverage company, which aims to set up 500 Tealive outlets in China within three years, said the plan is to ensure that it maintains an asset-light strategy for the expansion.