KUALA LUMPUR (Oct 27): Berjaya Food Bhd said its wholly-owned subsidiary Berjaya Starbucks Coffee Company Sdn Bhd (BStarbucks) plans to open 35 to 40 new Starbucks outlets across Malaysia in the current financial year ending June 30, 2023 (FY2023), as the Malaysian franchisee of the US-based food and beverage chain targets urban and rural markets, "particularly in satellite towns and metropolitan towns".
"Looking forward into FY2023, BStarbucks will continue to focus on mitigating rising cost by sourcing alternative construction materials, and procuring them well in advance or immediately once the sites [for new Starbucks outlets] have been secured to avoid inflation.
"The team will also work with landlords and contractors to build stronger relationships with shared investments," Berjaya Food said in its latest annual report, which was filed with Bursa Malaysia on Thursday (Oct 27).
As at June 30, 2022, BStarbucks had 356 stores across Malaysia, according to the annual report.
Berjaya Food via another operating entity, Berjaya Food Supreme Sdn Bhd (BFS), also operates Starbucks stores in Brunei.
"The first Starbucks retail store in Brunei was opened in the Mabohai Shopping Complex on Feb 16, 2014. As of June 30, 2022, BFS had four Starbucks stores, including one drive-thru concept store," Berjaya Food said.
Meanwhile, according to Berjaya Food's website, BStarbucks opened its first Malaysian Starbucks store in Kuala Lumpur on Dec 17, 1998, before expanding to Sabah and Sarawak in December 2016.
In the annual report, Berjaya Food said BStarbucks will continue to review and refresh its food menu by introducing new food categories, and collaborating with best-in-class culinary experts and celebrities.
BStarbucks will also continue to elevate brand loyalty, and drive an effortless digital experience through a revamped Starbucks Rewards programme by unlocking personalisation features derived from its members’ purchasing behaviour, according to Berjaya Food.
"Advanced digitalised ordering and payment methods will be implemented to enhance customers’ experience, loyalty and frequency, and also to offer more card designs with attractive benefits for members," Berjaya Food said.
Meanwhile, BFS will continue to effectively manage its operational and administrative procedures to reduce operating and administrative costs, Berjaya Food added.
"In addition, BFS will offer innovative food, beverage and merchandise products to maintain its brand name as one of the leading coffee retail chains in Brunei."
At 5pm, Berjaya Food closed down half a sen or 0.52% at 96 sen, with a market capitalisation of about RM1.68 billion, based on the company's 1.75 billion outstanding shares.
The share price has been adjusted for the company's bonus issue of new shares on the basis of four bonus shares for one existing share held.
In a local bourse filing on Sept 6, Berjaya Food said the bonus issue was completed, following the listing and quotation of 1.56 billion (1,558,106,228) bonus shares on the Main Market.