Stream Empire Holdings Signs MF Contract
Increasing Market Share in Southeast Asia's Leading Halal Markets Including Indonesia
Tous Les Jours, operated by CJ Foodville, is entering the Malaysian market.
On the 9th, CJ Foodville announced that it has signed a master franchise (MF) agreement for Tous Les Jours with the local Malaysian company Stream Empire Holdings. Building on its successful business operations and expansion in Indonesia, Tous Les Jours aims to strengthen its brand presence in the Malaysian market and enhance its influence in the leading Southeast Asian halal (HALAL) market.
Jung Su-won, Head of CJ Foodville Indonesia (right), and Justin Lim, CEO of Stream Empire Holdings, are posing for a commemorative photo on the 8th at Sunway Resort Hotel in Malaysia after signing the master franchise agreement for Tous Les Jours' entry into Malaysia. Photo by CJ Foodville
Malaysia is a symbolic economic powerhouse in ASEAN and a representative halal market with Islam as the state religion, making it a strategic hub in the Southeast Asian market. The Malaysian bakery product market is also showing continuous growth. According to the Agricultural and Fishery Food Export Information (KATI) from the Korea Agro-Fisheries & Food Trade Corporation, the size of the Malaysian bakery product market in 2023 is approximately 13.82 billion ringgit (about 4.4 trillion KRW), and it is expected to grow annually by 5.19% from 2024 to 2028.
By expanding its presence to Malaysia, Tous Les Jours has established itself as a leading K-bakery brand in a total of nine countries overseas. After signing the master franchise (MF) agreement, Tous Les Jours plans to open its first store in Malaysia within the first half of this year and expand its outlets to key locations in the future.
Stream Empire Holdings is a Malaysia-based company engaged in various retail businesses. It operates more than 200 diverse stores in major Southeast Asian countries, including Malaysia, covering F&B, convenience stores, and fashion retail. A CJ Foodville official stated, "Since Stream Empire Holdings possesses excellent expertise and a solid network in the local market, we expect it to be a stepping stone to expanding Tous Les Jours' influence in Malaysia."
In particular, the Malaysian market is adjacent to Indonesia, where Tous Les Jours is experiencing a successful growth trajectory, and is expected to generate strong synergies in various aspects such as business operations and logistics. Tous Les Jours entered Indonesia in 2011, established a production factory in the Bekasi area in 2019, and became the first bakery company in Korea to obtain halal certification in Indonesia. Through the supply chain based on the Indonesian factory, it is operating its business stably in the Southeast Asian market. In 2023, sales in Indonesia increased by 20% year-on-year, operating profit rose by 27%, and for two consecutive years since 2022, it recorded double-digit operating profit margins.
Leveraging its solid business foundation in the Southeast Asian market and the expertise of the local Malaysian MF company, Tous Les Jours plans to open its first store in Malaysia within the first half of this year. It will provide a differentiated brand experience with its proven "premium lifestyle bakery" products in domestic and international markets, offering a variety of products based on local consumer demand, including meal breads, snack breads, cakes, and beverages.
A CJ Foodville official said, "We plan to establish Tous Les Jours as a healthy and fresh premium bakery brand in Malaysia and accelerate business expansion in Southeast Asia. We expect to create strong synergy effects by utilizing the successful business foundation in Indonesia and the infrastructure of the local Malaysian partner company."
Meanwhile, Tous Les Jours has expanded into North America, including the United States and Canada, as well as various Asian countries such as Indonesia, Vietnam, Mongolia, and Cambodia, currently operating about 560 global stores. In particular, since entering Indonesia in 2011, it operates more than 70 stores based in major cities including the capital Jakarta and is recognized as a leading premium bakery brand in the local market.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
