According to Bryan Loo, CEO of Loob Holding, Bask Bear Coffee will concentrate on growing inside the home market while Tealive will continue to drive regional growth.
“Bask Bear at the moment doesn’t have any regional plan, whereas Tealive is highly focused on regional expansion. So, for Bask Bear coffee our next goal is to make sure that we continue to ramp up our stalls, bringing the best product to our consumer and then be the ultimate destiny for coffee and toastie,” he said.
“Our goal is to arrive at least 300 stalls before we start to look at the regional expansion,” Loo told reporters at Bask Bear Coffee 100th physical store opening at Suria KLCC.
Loob Holding is likely to go public next year as Creador Capital Group, their private equity backer, looks to expand on its track record of successful exits in the country.
Tealive, Bask Bear Coffee, Wonderbrew, and Sodaexpress are all owned by Loob Holding.
Additionally, Loo explained Loob Holding’s strategy for opening 100 Bask Bear Coffee locations year. With 120 virtual stores currently operating under the name, there are 220 physical locations overall, including two flagship Bask Bear Supreme boutiques.
“Bask Bear Coffee was introduced just before the pandemic hit Malaysia and we had to quickly transform ourselves into a virtual brand. We quickly became the most delivered virtual coffee during the lockdown.
“As we come out of the pandemic, we need to re-focus on having physical stores. Last year, we set our goal to achieve our 100th physical store milestone in the third quarter of this year and we achieved it,” he said.