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Convenience food retailer Boost Juice plots Asian expansion

RBR Staff Writer Published 29 July 2013

Boost Juice, a convenience food retail chain owned by American private equity firm Retail Zoo, is gearing up for Asian expansion after reaching saturation point in Australia.

The private equity owner plans to open an additional 30 to 36 new stores over the next three years in its home-market, Australia, before turning to markets such as Singapore and Malaysia.

Retail Zoo chief executive Scott Meneilly told Business Day that the food chain is currently witnessing a slump in store growth compared to its initial years of business.

He added that this decline in growth shows that the retailer is reaching maturity in the domestic market. However, Meneilly said that the company could still add few Boost Juice stores in Australia leveraging 5% drop in internal costs.

Retail Zoo is looking to open these proposed stores in Australia in lower-traffic shopping centers citing improvement in chain's business model.

"Previously we would have not gone into a shopping centre with lower than 8 million foot traffic per annum but now we can go to a 5 million traffic centre,'' noted Meneilly.

In Malaysia, the retail chain is set to open 18 juice outlets over the next 18 months, to have a total of 40 stores in the country, alongside plans to have 25 to 30 shops in Singapore.

Boost Juice, meanwhile, had made an exit from China following a dispute with joint venture partner in the country.