FamilyMart Malaysia to open 300 more stores by 2022
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QL Resources, the Malaysian operator of Japanese convenience store chain FamilyMart, is going ahead with plans to open 300 stores by March 2022, despite a slump in the economy. The firm opened 30 FamilyMart Malaysia outlets within the last financial year and plans to reach 90 new stores for the year ending March 31, 2019.
“We still stick to our plan to open 300 stores in five years”, said QL chairman Chia Song Kun.
Market leadership in the territory is currently controlled by 7-Eleven Malaysia, which operates more than 2000 stores in Malaysia. A major shareholder in the firm recently announced plans to open another 200 outlets this year.
Malaysian spending is increasingly focused on domestic trade as exports continue to be affected by the US-China trade war.
Questions & Answers
Q.How many FamilyMart stores has QL Resources opened in the most recent financial year?
How many FamilyMart stores has QL Resources opened in the most recent financial year?
QL Resources opened 30 FamilyMart Malaysia outlets during the last financial year. This contributes to their overall expansion strategy for the convenience store chain in the region.
Q.What is the expansion target for FamilyMart Malaysia for the current financial year?
What is the expansion target for FamilyMart Malaysia for the current financial year?
FamilyMart Malaysia plans to open 90 new stores by the end of the financial year on March 31, 2019. This is part of their broader strategy despite economic challenges.
Q.Who is currently the market leader in the Malaysian convenience store sector?
Who is currently the market leader in the Malaysian convenience store sector?
7-Eleven Malaysia currently controls market leadership in the territory. They operate more than 2000 stores across Malaysia and have plans for further expansion.
Q.Why is Malaysian spending increasingly focused on domestic trade?
Why is Malaysian spending increasingly focused on domestic trade?
Malaysian spending is increasingly directed towards domestic trade because exports continue to be affected by the ongoing trade dispute between the US and China, impacting the wider economy.
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