Starbucks Malaysia is about to open its first Reserve store.
Local franchise holder Berjaya Food plans to expand its existing Berjaya Times Square Starbucks outlet into the new up-market format.
The brand has entered into a sale and purchase agreement to secure an 829sqft space adjacent to the existing café for a reported RM12.43 million (US$3.05 million). The space was purchased by investment firm Deru Klasik for RM3.83 million in 2005. The purchase is expected to be completed by the end of this year.
Berjaya Food said the Starbucks Malaysia Reserve store will provide customers with a personalised, hand-crafted coffee experience, adding that the property acquisition should enable the group to benefit from any future capital appreciation.
Inside Retail Asia