KUALA LUMPUR: Loob Holding Sdn Bhd, which owns bubble tea brand Tealive, is planning to strengthen its overseas portfolio and is eyeing Indonesia next year.
It is currently in the Philippines, Vietnam, Myanmar, Australia, Cambodia, Brunei, Mauritius and Canada.
However, its plans for the Indonesian foray will only crystalise if the company can fulfil its target to have 100 stores in the Philippines. It currently has 75.
"Our goal for regional expansion in Southeast Asia has always been like this. If we manage to work through 100 stores in each market, we will start planning for new markets,” founder and chief executive officer Bryan Loo told the media after launching the company’s first heritage concept outlet at Medan Pasar here today.
"We hope we can achieve 100 stores in the Philippines and move to a new market. We are looking at Indonesia,” he said.
"We always start small, and fast. And we often start in urban areas,” he said, adding that the initial aim is to have 10 urban stores.
"That is how we establish our brand identity. Thereafter, we will slowly penetrate the second- and third-tier cities.”
In conjunction with the launch of its heritage-style concept store, Tealive also introduced other coconut-based beverages, including Coconut Smoothie and Coconut Velvet Latte.
Its Bang Bang series has crossed the 50 millionth cup milestone to date, a statement said.
The company was set up in 2017 and has over 1,000 Tealive outlets worldwide, serving five million customers per month in Malaysia and overseas markets. - Bernama
