The Reason why Mad Mex is exiting Singapore and Malaysia
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Australian food chain Mad Mex is taking a taste of Mexico to Singapore and Malaysia with the announcement of its global expansion.
The group’s plans to go international kick-off in Singapore this week with a brand-new store and will continue when its Malaysian store opens in December this year.
The Marina Bay financial district in Singapore will be Mad Mex’s first location outside of Australia and New Zealand.
The launch of the restaurant also heralds in a new partnership for Mad Mex with restaurant group 4Fingers. The partnership will see Mad Mex and 4Fingers leverage each other’s’ local market knowledge in Singapore, Australia, Indonesia, Thailand and Malaysia.
The push into Singapore and Malaysia follows Mad Mex’s successful expansion into New Zealand in 2013. The company now has 15 restaurants in New Zealand and has plans for three more openings in 2019.
The expansion comes off the back of considerable growth for the business. Over the last 12 months the company has served over four million burritos across the company’s 70 Australian and New Zealand restaurants.
The company also revealed that during FY19 the company had strong like for like sales growth of 6.5 percent and 70 consecutive weeks of sales growth in Australia making the year the business’ strongest financial year to date.
Founder and CEO Clovis Young says the success of Mad Mex in the face of tough retail conditions is to be commended.
“The results of our team have delivered is truly remarkable and a demonstration of the passion and enthusiasm our restaurant team have for the food and the brand,” says Young.
“The last 12 months have been very tough for retailers, so this performance really is exceptional.”
“The expansion into APAC comes at an exciting time for Mad Mex. southeast Asia is in the midst of a food revolution towards healthy eating, and we believe Mad Mex’s healthy and quality positioning will resonate with local customers. We are very excited by the opportunity and we have big plans for the next five years. Watch this space.”
Questions & Answers
Q.What is the primary reason Mad Mex is expanding into Singapore and Malaysia?
What is the primary reason Mad Mex is expanding into Singapore and Malaysia?
Mad Mex is expanding into these markets to use a food revolution towards healthy eating in Southeast Asia. They believe their healthy and quality positioning will appeal to local customers there.
Q.How will Mad Mex manage its expansion into Singapore and Malaysia?
How will Mad Mex manage its expansion into Singapore and Malaysia?
Mad Mex has formed a partnership with the restaurant group 4Fingers. This collaboration will allow both companies to utilise each other’s local market knowledge in the region.
Q.What financial performance led to Mad Mex's decision to expand internationally?
What financial performance led to Mad Mex's decision to expand internationally?
The company reported 6.5 percent like-for-like sales growth in FY19 and 70 consecutive weeks of sales growth in Australia. This made it their strongest financial year to date despite tough retail conditions.
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