CU Opens 50th Store in Malaysia... "Expanding Store Network Across the Country"

On the 12th, tteokbokki is being sold at the CU Awanas Skyway branch in Kenting, Malaysia.

[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 12th that it has opened the 50th CU store in Malaysia. This achievement came about nine months after the first store opened on April 1 last year, surpassing the initial goal set by its Malaysian business partner, Mynews Holdings, of reaching 50 stores within one year by three months.

CU has been expanding its stores throughout Malaysia, starting from Kuala Lumpur, the capital, at the end of last year, to Genting Highlands, the largest casino resort and landmark in Southeast Asia, Penang, a representative Southeast Asian resort destination, and Johor Bahru, Malaysia’s economic special zone.

The rapid increase in CU stores is due to so-called “in-call” requests, where landlords who own commercial buildings proactively propose that CU open stores in their properties. According to Mynews Holdings, over 80% of the newly opened CU stores in the past three months were established through this in-call method, indicating fierce behind-the-scenes efforts to attract CU in key commercial areas.

The brand power of CU is also growing day by day locally. In fact, after converting convenience stores previously operated under the Mynews.com brand to CU, sales at the same stores tripled. Additionally, about 70% of total store sales come from products imported from Korea, reflecting a high preference for Korean goods.

The secret to the stable expansion of BGF Retail and Mynews Holdings’ business lies in the “BGF Overseas Business Dedicated Global System.” By using this system, the processes of Korean convenience stores are connected into one organic system linking stores, logistics, and franchise headquarters, enabling rapid and efficient integrated management.

A BGF Retail official said, “As Malaysia CU achieves results beyond expectations locally, it is playing a vital role as an all-purpose platform that supports the export of domestic companies, which have been stagnant due to COVID-19, and promotes our culture. Based on this know-how, we plan to actively explore new overseas markets, including countries in the New Southern region, in 2022.”