Mr DIY plans exapansion after e-commerce blast
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Home improvement retailer Mr DIY is planning to open 135 new stores in Malaysia this year.
The move, which will take the total number of Mr DIY trading locations to 500, comes on the heels of the launch of the brand’s new e-commerce platform. The site targets technically competent users who are too busy to visit the store in person or those seeking to buy bulk quantities.
The brand says it is nonetheless committed to heavy expansion of its brick-and-mortar store network, planning to roll out 300 new stores across Asia Pacific this year, including those in Malaysia, and expanding into Singapore and the Philippines. The firm already has outlets in Thailand, Indonesia, and Brunei.
Mr DIY recorded more than RM1 billion (US$247.1 million) in sales last year and is forecasting a 40 per cent increase in revenue this year.
Questions & Answers
Q.How many new stores does Mr DIY intend to open in Malaysia this year?
How many new stores does Mr DIY intend to open in Malaysia this year?
Mr DIY plans to open 135 new stores in Malaysia this year. This expansion will increase their total number of trading locations in the country to 500 outlets. This initiative follows the recent launch of their new e-commerce platform.
Q.What is the primary target audience for Mr DIY's new e-commerce platform?
What is the primary target audience for Mr DIY's new e-commerce platform?
The new e-commerce platform is aimed at technically competent individuals who find it difficult to visit physical stores due to time constraints. It also targets customers who are looking to purchase goods in bulk quantities, offering a convenient alternative for these users.
Q.Which new countries in Asia Pacific is Mr DIY planning to expand into this year?
Which new countries in Asia Pacific is Mr DIY planning to expand into this year?
Mr DIY plans to expand into Singapore and the Philippines this year as part of its broader Asia Pacific growth strategy. This forms part of the 300 new stores the company intends to open across the region, including those in Malaysia.
Q.What was Mr DIY's revenue figure last year and what increase is forecast for this year?
What was Mr DIY's revenue figure last year and what increase is forecast for this year?
Mr DIY recorded sales of over RM1 billion, equivalent to US$247.1 million, last year. For the current year, the company is forecasting a substantial 40 per cent increase in its revenue figures, indicating strong growth expectations.
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