16-05-2025
Magma Group To Grow Chagee With 300 New Outlets
Magma Group Berhad announced that its wholly-owned subsidiary, Magma Chain Management Sdn Bhd has entered into a strategic joint venture and a subscription agreement with CHAGEE (M) Sdn Bhd to accelerate the development of the tea brand's footprint across Malaysia.
The joint venture marks a key milestone in the Group's diversification strategy into the premium food and beverage retail segment. Under the terms of the joint venture agreement, CHAGEE (M) will hold a 60% stake, while Magma Chain Management will hold the remaining 40% in the newly established joint venture company, Chagee Magma Sdn Bhd.
The JVC aims to open up to 300 directly managed CHAGEE outlets across Malaysia over the next three years, through a phased rollout, subject to prevailing market conditions. Detailed announcements regarding specific store launches will be provided in due course.
CHAGEE entered the Malaysian market in 2019 under the name BaWangChaJi, before unifying its global branding under the CHAGEE name in September 2021. Today, Malaysia is CHAGEE's largest market outside of China, and its Malaysian operations are Halal-certified by JAKIM, further solidifying the brand's inclusive approach in catering to local consumers.
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