KUALA LUMPUR: Bask Bear Coffee is set to focus on expanding within the domestic market, while Tealive will continue to spearhead the regional expansion efforts, according to Loob Holding CEO Bryan Loo.
“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 on Wednesday.
Loob Holding is expected to go public next year as their private equity backer Creador Capital Group seeks to build on its track record of successful exits in the country.
Loob Holding is the parent company of Tealive, Bask Bear Coffee, Wonderbrew, and Sodaexpress.
Loo also outlined Loob Holding’s plan to open 100 Bask Bear Coffee outlets each year. The brand currently has 120 virtual stores, bringing its total network to 220 stores combined, including two flagship Bask Bear Supreme outlets.
“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.