Loob Holding Sdn Bhd founder and chief executive officer Bryan Loo
KUALA LUMPUR: Loob Holding Sdn Bhd, which owns the Tealive bubble tea brand, aims to penetrate the Indonesian market by year-end provided that it manages to hit its 100-Tealive-stores target in the Philippines by the third quarter (3Q) of 2024.
Founder and chief executive officer Bryan Loo said the company has established 57 Tealive stores in the Philippines and plans to open 43 more stores there by 3Q.
"If we managed to reach the target within the period, we would expand into the Indonesian market by end of this year,” he told a press conference after launching Tealive's brand refresh campaign with new tagline, "Brewing Positivity”, here today.
On its global expansion plan, Loo said that the company has been planning to penetrate three new markets each year, with one being a Southeast Asian country.
"Interestingly enough, having tapped into the Southeast Asia market, we realised that the eating habits and palates (of the people here) are similar, which helped us to expand our market in the Philippines,” he said.
Currently, Loob has over 1,000 Tealive outlets worldwide, serving over five million consumers per month in Malaysia and having presence in the Philippines, Vietnam, Myanmar, Australia, Cambodia, Brunei, Mauritius and Canada. - Bernama
