KUALA LUMPUR (Jan 25): Trendcell Sdn Bhd, which operates supermarket chain Jaya Grocer, plans to open five new stores across the country this year to take the total store count to 27.
Jaya Grocer operations director Daniel Teng said the company will open new stores at Eco Ardence in Setia Alam next month, Kuala Lumpur Eco City in Bangsar in June, Empire City Damansara in July, Kiara 163 at Mont'Kiara in September and Kuala Lumpur East at Taman Melati in December.
Teng said the management chose each location of the outlets carefully, after considering the shopping habits of consumers in each neighbourhood.
“Even though Jaya Grocer itself is 10 years old, the management team is led by retail veterans with a family heritage dating back to pre-independence Malaya. We are proud of our heritage and are yet humbled by the overwhelming support shown by our loyal customers through the decades,” Teng said in a statement today.
Trendcell is 45% owned by the Asean Industrial Growth Fund (AIGF), with the remaining 55% being held by the founding Teng family which continues to manage the Jaya Grocer business. AIGF, a private equity fund, is 45 owned by CIMB Private Equity, 45% by Mitsubishi and 10% by the Development Bank of Japan.
On Jaya Grocer’s online delivery service, Teng said it would be gradually expanded to cover more areas in the Klang Valley, beginning with its Pearl Point Outlet in Jalan Klang Lama.
“Since we started at the end of 2016, our online segment has grown by 30%,” he said. “It has certainly helped to meet a need among modern consumers with a hectic city lifestyle or busy mothers with young children who cannot spare time to shop in person." — theedgemarkets.com