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What considerations must these companies take into account in embracing the expected growth:
What considerations must these companies take into account in embracing the expected growth:
MRCA expects 30% growth for retail franchise industry by 2020
The Malaysia Retail Chain Association (MRCA) is targeting a 30% growth for the retail franchise industry by 2020, to be driven by the worldwide expansion of local Malaysian brands.Speaking at a press conference on MRCA's upcoming council installation night, MRCA president Datuk Seri Garry Chua said: "For example, Tealive is expanding their reach overseas, entering China, India and Australia."We also have Marrybrown establishing outlets in the Middle East, Iran, and Dubai."
The retail franchise growth target is set by the new line-up of MRCA council members who will serve for the term of 2018 to 2020.Chua was re-elected as MRCA president for the second term, due to his tremendous achievement and contributions to the retail industry.The new line up in the council will also see new faces like Datuk Vincent Choo of Subway, who assumes the mantle of MRCA deputy president.Apart from focusing on the retail franchise segment, MRCA will highlight the promising future in the digitalisation of the retail and franchise industry during the new term.MRCA will also expand its reach by engaging with its members via the creation of chapters in states such as Penang, Johor, and Sarawak.
"MRCA has established close collaboration with many associations such as Pikom, MDCC, Association of Chain Franchise Promotion Taiwan, Malaysia Business Council of Cambodia, Malaysia Business Chamber Vietnam, Hong Kong Malaysia Business Association as the affiliate members."These organisations are related to MRCA in a way and this will help any members who wish to explore business opportunities in these countries, in terms of connectivity," said Chua.Themed 'An Evening at the Musicals', the council installation night which will be held on July 20, 2018 at the Imperial Ballroom of One World Hotel, aims to celebrate the contribution and support of patrons, advisors, president council and members in the previous term.MRCA has achieved a solid growth in terms of membership benefits, with membership increasing from 290 in 2016 to 450 to date.Tables for the council installation night are priced at RM3,600 for MRCA members and RM4,700 for non-MRCA members, open to those interested to be an MRCA member.
