Boost Juice of Australia is gearing its expansion into Asia as domestic market reaches its maturity.
Growth in the Australian market grew just three to four per cent compared to double-digit highs in earlier years.
While Boost Juice still plans to open within shopping malls in Australia, it says it will increase dependence on Asian markets, especially Singapore and Malaysia, for growth.
It says it is targeting lower volume shopping centres where internal costs to open stores are lower.
”We work best in higher volume shopping centres and now that our business model has improved we can go into lower volume centres. Previously we would have not gone into a shopping centre with lower than 8 million foot traffic per annum but now we can go to a 5 million traffic centre,” said CEO Scott Meneilly of Retail Zoo, the parent company of Boost Juice.
Founded by husband and wife Janine and Jeff Allis in 2000, Boost Juice has 206 stores in Australia, 22 in Malaysia, six in Singapore, four in India as well as a presence in the UK and South Africa.
It is looking to increase its Malaysian and Singaporean store networks to 40 and up to 30, respectively, within 18 months.
Boost Juice, whose sales stood at $155 million in the past 12 months, is the largest contributor to the total sales of its parent Retail Zoo, which also owns Salsa’s Fresh Mex and Cibo Espresso.
