Kuala Lumpur, 12nd June 2018,
Loob Holding Sdn Bhd, the creator of Malaysia’s Tealive bubble tea brand, today announced a joint venture with two Chinese companies to bring 500 Tealive stores to China within three years.
The Malaysian company inked the deal with Zhejiang Boduo International Trade Co Ltd and Shanghai Panfei International Trade Co Ltd at an elaborate ceremony attended by retail and franchise industry officials as well as Government representatives from both Malaysia and China.
CEO Bryan Loo signed for Loob Holding which will take a 51 per cent majority stake in the joint venture which will be known as Shanghai Loob Boduo Food and Beverage Co Ltd, subject to company registration approval by the relevant authorities in China.
Signing for the Chinese partners were their executive directors, Yu To for Zhejiang Boduo International Trade and Pan Junfei, for Shanghai Panfei International Trade.
Read more: https://www.malaymail.com/s/1641217/tealive-plans-to-open-500-outlets-in-china-within-next-three-years?utm_source=dlvr.it&utm_medium=facebook