KUALA LUMPUR, March 23 — Tropicana Corporation Bhd expects the take-up rate at its retail mall in Tropicana Gardens Mall to reach 80 per cent by the end of this year, from the current 68 per cent, despite the challenging economic situation due to Covid-19 pandemic.
Managing director of group asset management Andrew Ashvin said the company believed that the retail segment would bounce back in line with the opening of the economy in the country and worldwide.
“At the moment, of course it’s still challenging but yes we can to-date our mall is also home to many other local and international brands.
“We hope to continue this momentum and will be unveiling more exciting stores soon,” he said after the media tour of the largest Starbucks Reserve in Malaysia here today.
He said netting support from a global brand like Starbucks and having it open its premium and largest Starbucks Reserve in Tropicana Gardens Mall is an important milestone for the company.
“It is about experience out of the storm. There is so much competition online but, you see, sometimes we tend to miss the point when we actually have 300 retail stores opened with us in the mall.
“The amount of employment opportunities that are being extended to the community is fantastic. You take that and multiply 300 stores inside one mall, imagine the employment opportunities,” he said.
Meanwhile, Berjaya Food Bhd group chief executive officer and Starbucks Malaysia and Brunei managing director Sydney Quays said Starbucks is expected to open 12 stores including one more Starbucks Reserve in Malaysia this year.
He said that at the moment, there are 327 stores consisting of 13 Starbucks Reserve and 57 Starbucks Drive-Thru.
“We are also working on our online platform but nothing is finalised yet. Currently, you can get Starbucks on the delivery platform like Grabfood and Foodpanda,” he said.
He added that Starbucks is the biggest component of Berjaya in terms of revenue as well as profitability which is close to 80 per cent of revenue last year.
Malaysia’s biggest Starbucks Reserve is located on the ground floor of the one million square feet and seven-storey mall, located between Kota Damansara and Tropicana Indah that offers 300 stores consisting of lifestyle, dining and entertainment brands. — Bernama