Mr DIY ready for massive growth by 2020
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Malaysian home improvement retailer Mr DIY has announced plans to open at least 1000 branches by 2020. The announcement was made at the opening of its latest outlet at Paradigm Mall, its 440th local branch and 600th global branch. The brand currently operates 120 stores in Thailand, 40 in Indonesia, four in Brunei, and one each in Singapore and the Philippines.
Mr DIY head of marketing Andy Chin said: “We feel that our home improvement retail business model, offering a variety of goods at affordable prices, is suitable for better business growth in the country as well as the Asean market. At the end of this year, we target 700 global branches, and the number may reach 1000 or more by 2020. These will be based on an organic growth.”
He added that the company’s prospect of Asean-level expansion will be focused on Indonesia, Thailand and the Philippines,” said Chin.
Mr DIY is the largest home appliance retailer in Malaysia with more than 20,000 SKUs.
Questions & Answers
Q.Which specific countries will Mr DIY prioritise for its ASEAN expansion efforts?
Which specific countries will Mr DIY prioritise for its ASEAN expansion efforts?
The company’s expansion at an ASEAN level will particularly focus on Indonesia, Thailand, and the Philippines. These countries are expected to see significant development in the number of Mr DIY stores.
Q.What is the total number of Mr DIY branches globally as of the announcement?
What is the total number of Mr DIY branches globally as of the announcement?
As of the announcement, coinciding with the opening of its Paradigm Mall outlet, Mr DIY operates a total of 600 global branches. This includes 440 local Malaysian branches and international stores.
Q.How many branches does Mr DIY aim to have open by the end of the current year?
How many branches does Mr DIY aim to have open by the end of the current year?
Mr DIY targets reaching a total of 700 global branches by the end of the current year. This is part of their broader plan for significant expansion over the next few years.
Q.What is the company's approach to achieving its planned growth by 2020?
What is the company's approach to achieving its planned growth by 2020?
The company intends to achieve its growth target of 1000 or more global branches by 2020 through an organic growth strategy. This means expanding naturally rather than via acquisitions.
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