Malaysia’s Loob Holding, which is also ASEAN’s largest bubble tea brand by stores, is set to continue expanding until it reaches its target of 1,000 stores in Malaysia. By then, it will consider for IPO listing.
Bryan Loo, Loob’s CEO, founded the company in 2010 and launched the first Tealive store in 2017. In September this year, Loob opens its 800th store in Malaysia. Tealive expansion is facilitated by the funding which it received from Malaysian private equity fund Creador, which bought a 30% stake in Loob in 2021. As such, there is no urgency to seek IPO listing as the company is well-funded.
Tealive sells beverages ranging from pearl milk tea to coffee and has expanded to several countries like Vietnam, the Philippines, Australia and the UK. Loob is also gearing up to expand its Tealive store count in the Philippines annually, with a target of 300 stores by 2024 from 25 currently.
Apart from Tealive, Loob also owns sparkling water maker Sodaxpress, kombucha brand Wonderbrew, and coffee brand Bask Bear Coffee.
