Loob Holding to create own brand
Published on: Tuesday, January 24, 2017
Kuala Lumpur: Loob Holding Sdn Bhd, the Chatime master franchisee for Malaysia, is creating its own brand after the termination of its franchise by brand owner La Kaffa International Co Ltd of Taiwan.Chief Executive Officer Bryan Loo, in a statement, said the company would come up with a new name in a month's time and would continue to move forward with its 1,000-strong workforce."We have 165 outlets, nationwide, and serve two million customers every month.
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"The management is working closely with sub-franchisees, outlet supervisory staff, frontline workers, partners and associates to create the new brand and the pace will intensify in the coming weeks."In 2011, there were several dozen bubble tea brands but now there are only three. We are the market leader in our segment and we are confident of holding on to this leadership with our new brand," Loo said.The company's 165 outlets account for over half of the turnover recorded by the franchisor's reported 800 outlets, worldwide.Loob Holding also manage other food and beverage brands such as Tino's Pizza, Soda Xpress, llaollao and Gindaco.
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Earlier this month, La Kaffa Chairman Henry Wang said the company would terminate its contract with Loob Holdings with immediate effect and assume the management of all Chatime stores in Malaysia.Meanwhile, Greenyield Bhd's unit, Gim Triple Seven Sdn Bhd, has proposed to acquire a six-storey shop office located at MKH Boulevard in Kajang from Serba Sentosa Sdn Bhd for RM5.7 million.
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