Frank Lao, a businessman from the Philippines who is worth billions of dollars and is known for opening popular restaurants like Choi Garden and Gloria Maris, has added to his portfolio by investing in ZUS Coffee, a tech-driven coffee chain in Malaysia. Lao’s business, Choi Garden, recently agreed to buy a 35% stake in ZUS Coffee from co-founder Ian Chua.
Also Read: Smart and affordable home décor solutions with Asian Paints’ new campaign
The move is a part of Choi Garden’s Philippines expansion plans. Where they intend to introduce ZUS Coffee, a company that owns all of its stores and aims to dominate the local coffee market. Since opening its first location in Malaysia in 2019, ZUS Coffee has grown quickly. With 197 locations throughout the nation and over 30 million cups delivered to date. As of March 20, 2023, more than 1.5 million people had downloaded the ZUS Coffee mobile app. It had more than 800,000 monthly active users. Through a variety of marketing campaigns, the company hopes to increase the number of people who use its app. Chua also disclosed that this year, the business intends to open up to 150 units in key locations throughout Malaysia. If Choi Garden’s purchase of ZUS Coffee goes well, it will be able to expand its business in the Philippines and keep going up in the coffee market.
More than 30 million cups have been delivered to date at 197 locations across Malaysia. Reflecting the company’s significant growth over the last three years. ZUS Coffee is the ideal fit for Lao’s expansion plans in the Philippines. As it has not been franchising and has remained committed to owning all of its stores. The company currently boasts more than 800,000 active users each month and has amassed more than 1.5 million app downloads. Ian Chua, a co-founder of ZUS Coffee, also disclosed that the business intends to open as many as 150 new locations in Malaysia this year.
