Debenhams picks Penang for third store in Malaysia
GEORGE TOWN: Debenhams, one of Britain’s oldest retailers, is opening its third store in Malaysia amid the region’s fast-growing economy.
To be located at Gurney Paragon, Penang, the store will be Debenhams’ first outlet outside Kuala Lumpur and also its first flagship store for the northern region.
Debenhams Malaysia master franchisee Stellar Retail Sdn Bhd chose Penang as the third location for expansion in the Malaysian retail market after establishing two stores in Kuala Lumpur.
Stellar Retail managing director Andy Jackson said the new 20,000 sq ft store in Gurney Paragon is scheduled to open in July or August next year with construction expected to start in the next few months.
Speaking at a press conference after the signing ceremony between Gurney Paragon and Debenhams on Saturday, Jackson said between RM3 million and RM4 million will be invested for the new store.
Also present were Hunza Properties Bhd executive chairman Datuk Khor Teng Tong and group managing director Datuk Daisy Ooi, Debenhams plc’ head of international business development John Scott and Penang state executive councilor Chow Kon Yeow.
Jackson said Debenhams Malaysia plans to open several stores in Malaysia and outside the Klang Valley, adding that Johor Baru could be an ideal location for the southern region.
Source: Business Times