Cold Storage and Giant
Cold Storage Malaysia (premium supermarket) and the Giant hypermarket chain here are part of Hong Kong based Dairy Farm International Holdings Limited Group (Dairy Farm). Dairy Farm, a leading pan-Asian retailer with an annual turnover of US$27 billion, is listed on the London Stock Exchange and is a member of the Jardine Matheson Group. The Dairy Farm Group operates grocery retail, convenience stores, health and beauty stores, home furnishings and many other well known retail brands in the Asia Pacific region.
Dairy Farm acquired Giant hypermarket chain in 1999 from the Teng family who ran the popular TMC grocery store in Bangsar, Kuala Lumpur. Its Malaysian supermarket and hypermarket operations are managed by GCH Retail (M) Sdn Bhd. When Cold Storage supermarkets and Giant hypermarkets were being closed down in several places the last few years, there were speculations that perhaps Dairy Farm could be exiting Malaysia. It is not true. Dairy Farm had a new CEO, Ian McCleod, who joined in 2017 and after a major review of the group’s operations in the region, came up with a five year plan to re-engineer the food business segment to meet the demands of the rising middle class and the changed competitive landscape. The mass market general merchandise hypermarket format gave way to a redefined hypermarket where more emphasis was placed on fresh food and optimised merchandise range by category. 14 Giant stores were relaunched in the Klang Valley in 2019 and 7 stores reopened in Johor.
With 14 outlets across the country, Cold Storage supermarket now strives to provide a one-stop shopping experience with the introduction of its very own cafe, ready-to-eat meals as well as friendly customer service. Cold Storage has been in Malaysia since 1963.
- Cold Storage. Our story. https://coldstorage.com.sg/our-story
- Inside Retail Asia. 5 March 2019. Robert Stockdill. Dairy Farm Group CEO says restructure will take five years. https://insideretail.asia/2019/03/05/dairy-farm-group-ceo-says-restructure-will-take-five-years/
- SG Stockmarket Investor. 10 April 2020. Sheng Shiong vs Dairy Farm! Fight of the Supermarkets. https://sgstockmarketinvestor.com/sheng-siong-v-dairy-farm-fight-of-the-supermarkets/
- The Edge Markets. 10 February 2020. Vasantha Ganesan. After close numerous Giant and Cold Storage outlets, Dairy Farm to shut Jasons Bangsar. www.theedgemarkets.com
- Dairy Farm International Holdings Limited. www.dairyfarmgroup.com
- IGD Retail Analysis. 23 June 2017. New CEO for Dairy Farm. www.retailanalysis.igd.com