MR.DIY OPENS 700th OUTLET
April 07, 2021
Home Improvement hypermarket retailer MR.DIY Group (M) Bhd (MR.DIY) has just launched its 700th outlet at Nu Sentral transportation hub, Kuala Lumpur. This new concept store features a Mr.TOY store within the same premises. MR.TOY was launched in 2019 to cater to children and has expanded to about 30 stores. Since MR.DIY opened its first store in Jalan Tuanku Abdul Rahman in July 2005, it has rapidly expanded its network of stores to become within 20 years, the largest home improvement retailer in Malaysia and in the region. MR.DIY went for listing in October 2020 and raised about RM1.5 billion from the placing out of its shares by existing shareholders and new issues of shares. According to ValueinvestAsia.com, RM300 million from the IPO exercise was used to pay off debtors and the balance of RM1.2 billion went to its offeror shareholders. The other thing to note is that MR.DIY that is listed on Bursa Malaysia only covers its operations in Malaysia and Brunei.
For a long while people have been asking who the founders of MR.DIY were. In most businesses, the founder would be apparent but in the case of MR.DIY, it was a senior marketing executive Mr Andy Chin who was the face of the company until it went for listing. Mr Tan Yu Yeh and Mr Tan Yu Wei, brothers who control more than 50% of MR.DIY has emerged as the founders. The second largest shareholder is a PE fund, Creador Funds, founded by enterprising venture capitalist, Brahmal Vasudevan, which holds about 15% of the listed MR.DIY.
Most MR.DIY stores encompass about average 10,000 square feet per store. It offers a wide selection of more than 16,000 types of products across 10 categories - Hardware, Household, Electrical, Furnishing, Car Accessories, Stationery & Sports, Toys, Gifts, Computer & Mobile Accessories and Jewellery & Cosmetics. Its tag line is “Always Low Prices.”
- The Star. 1 April 2021. Retailer debuts store-in-store concept for 700th outlet.
- The Star Online. 25 September 2020. MR DIY finally does it – Main Market listing is on. MR DIY finally does it – Main Market listing is on | The Star
- Free Malaysia Today. 16 October 2020. https://www.freemalaysiatoday.com/category/highlight/2020/10/16/mr-diy-share-offer-oversubscribed-by-3-9-times/
- Mr D.I.Y. About us. www.mrdiy.com
- Value Invest Asia. 30 November 2020. Fire 2030. Mr. D.I.Y. https://valueinvestasia.com/10-things-to-know-about-mr-d-i-y-group-m-berhad-before-you-invest/