RadioShack Corp., a leading national retailer of innovative mobile and technology products, services and accessories, today announced grand openings in Kuala Lumpur for its first two locations in Southeast Asia operated with master franchisee Berjaya RS Sd. Bhd., a subsidiary of Berjaya Retail Berhad, the Malaysian retailing conglomerate.
Today Berjaya debuts its first stand-alone RadioShack location in Mid Valley Megamall and a second store-in-store location within a Berjaya-operated Borders bookstore franchise in The Gardens Mall, both in Kuala Lumpur.
RadioShack announced a long-term master-franchise agreement with Berjaya earlier this year, under which Berjaya is the franchise developer for at least 1,000 locations across Southeast Asia. Berjaya Retail Berhad is owned by the major shareholder of Berjaya Corporation, which reported combined revenues of $7.06 billion (USD) across its diversified holdings in fiscal year 2011.
The Berjaya relationship represents RadioShack's single largest franchise expansion to date and offers the potential to nearly double the number of RadioShack's total dealer-franchise locations worldwide, eventually increasing the Company's global footprint to 39 countries.
"We're excited to see the RadioShack brand expand to our 33rd country outside the United States with the new locations opening in Malaysia," said Martin B. Amschler, vice president of franchise for RadioShack Corp. in Fort Worth, Texas.
"RadioShack has a 90-year heritage of helping our customers around the world find the right solution for their technology needs through our industry-leading customer service and thoughtfully selected assortment of technology products," Amschler said. "Berjaya is a great partner and has a demonstrated track record of expanding the presence of leading U.S. retail brands in the region. We are pleased with the speed by which they have seized upon the RadioShack opportunity since we signed the franchise agreement in March."
Paul W. Jones, U.S. ambassador to Malaysia, officiated at the grand-opening event with Tan Sri Vincent Tan, the major shareholder of Berjaya Retail. They were joined by Dato' Robin Tan, chairman and CEO of the parent organization, Berjaya Corporation, as well as Tan U-Ming, director of Berjaya Retail Berhad.
"We want to make the buying of personal technology and electronics a pleasant and enjoyable experience whereby one is able to comfortably browse without feeling rushed or intimidated, not unlike book shopping," said Yau Su Peng, Chief Operating Officer of Berjaya RS Sd. Bhd. "This approach allows us to take the mystery out of the complexities of technology in a language that the customer understands - from layman to tech-savvy to geek-speak. But more importantly it builds trust, not only of getting genuine, dependable products that will not let you down but also value for solutions that suit your budget."
Berjaya plans to open three more Malaysia RadioShack locations in the coming months in Kuala Lumpur and Petaling Jaya. Follow RadioShack Malaysia on Facebook, or on Twitter with #radioshackmalaysia.
Berjaya Retail Berhad operates the 7-Eleven, Cosway and Singer brands that have a combined network of 2,000 stores. It is owned by Tan Sri Dato' Seri Vincent Tan Chee Yioun, who is the major shareholder of Berjaya Corporation. Berjaya's diversified holdings include food-service franchises; retailing concepts in consumer packaged goods, convenience, home entertainment, durable goods and bookstores; and a broad range of other holdings and investments.
For more information about global franchising opportunities with RadioShack, please see franchiseradioshack.com for contact details and more information.
About RadioShack Corporation
RadioShack (NYSE: RSH) is a leading national retailer of innovative mobile technology products and services, as well as products related to personal and home technology and power supply needs. RadioShack offers consumers a targeted assortment of wireless phones and other electronic products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment. RadioShack employs approximately 34,000 people globally, including a team of friendly and helpful sales experts who have been recognized for delivering the best customer service in the wireless industry. RadioShack's retail network includes approximately 4,700 company-operated stores in the United States and Mexico, 1,500 wireless phone centers in the United States, and more than 1,100 dealer and franchise locations worldwide. For more information on RadioShack Corporation, please visit www.radioshackcorporation.com; to purchase items online, please visit www.radioshack.com. RadioShack® and The Shack® are registered trademarks licensed by RadioShack Corporation.
About Berjaya Retail
Berjaya Retail was incorporated in Malaysia on 8 June 2009 under the Companies Act of 1965 as a private limited company under the name Berjaya Retail Sdn Bhd. On 29 September 2009, Berjaya Retail was converted into a public limited company, principally involved in the following businesses: operation of a chain of convenience stores via the 7-Eleven Group; and marketing and direct selling of consumer durables with installment option schemes via the Singer Group. Berjaya Retail was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 August 2010 and subsequently delisted on 3 May 2011, now operating as a private entity.
