September 30, 2021
South Korean convenience store chain emart24 opened its first Reserve store at the Horizon, Wisma Touch n go in Bangsar South, Kuala Lumpur in June 2021. A Reserve store is special larger format emart24 with a more defining ambience. Depending on location, Reserve stores and General Stores will be opened across the Klang valley and beyond. The Master franchisee for emart24 in Malaysia, United Frontiers Holdings Sdn.Bhd plans to open more than 300 eMart24 outlets within 5 years. Another emart24 outlet has been opened in Desa Sri Hartamas, Kuala Lumpur to enthusiastic local response.
The CEO of Malaysia’s emart24 franchise operator is Vuitton Pang, the eldest grandson of Datuk Pang Chin Hin, the founder of Mamee snacks manufacturer and the Group’s Executive Chairman. Vuitton’s father, Tan Sri Pang Tee Chew, is currently the Group Managing Director of Mamee Group. Vuitton worked in the family business for many years before deciding to head a different kind of enterprise now. It is not going to be easy opening during a lockdown, but the pandemic worst seems to be on its last leg.
Shinsegae Group’s emart24
S. Korean retail giant, Shinsegae (in cantonese it is sun sai kai or New World) Group belongs to Lee Myung-hee, sister of the late Samsung Chairman, Lee Kun-hee. She is the Chairman of Shingsegae Group (SSG) and her two children runs and controls two different key segments of the family business. Lee’s son, Chung Yong-jin is Vice Chairman of SSG and manages the Group’s large discount store business led by E-Mart while his sister, Chung Yoo-kyung, is President of the global Shinsegae upmarket department stores chain.
The convenience store chain emart24 is a recent addition to the SSG portfolio. SSG is a new entrant into S. Korea’s competitive convenient stores business, which is dominated by CU, GS25 and 7-Eleven. SSG bought the “With Me” convenience store chain in 2014 and rebranded it as emart24. Then it began an ambitious expansion plan to play catch up with the intense competition. SSG also runs Starbucks Korea Co. The Malaysian emart24 is the first overseas expansion for the convenience store chain.
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- The Edge Markets. 5 September 2021. Keeping it Convenient. https://www.theedgemarkets.com/article/keeping-it-convenient