CU, the convenience-store chain operated by South Korea’s BGF Retail Co, has opened its first store in Malaysia.
The 165sqm space in the capital, Kuala Lumpur, marks the latest step in BGF’s plan to expand into Southeast Asia as the convenience-store market reaches saturation point in its home country. CU is South Korea’s largest convenience store network, having recently overtaken rival GS25.
The company plans to open 50 stores in Malaysia with local partner MyNews within the first year, and ultimately 500 within five years.
CU launched in Mongolia in 2018 and reportedly has opened 112 stores since. In late 2019 announced a partnership to roll out stores in Vietnam from last year, however these stores have yet to materialise.
In the Malaysian debut, about 60 per cent of the stock is sourced directly from Korea, including CU’s private-label products.