YANGON/KUALA LUMPUR, 10th February 2020 – Malaysia’s leading lifestyle tea brand, Tealive, is set to begin brewing at one of Myanmar’s largest commercial banks, uab bank, after Loob Holding inked a collaborative agreement with the bank over the weekend in Yangon.
This strategic collaboration caps Tealive’s successful debut in Myanmar which saw three outlets being opened last year.
Loob Holding Sdn Bhd founder and CEO, Bryan Loo described the collaboration with uab bank as yet another breakthrough which would take Tealive to a higher level in serving Myanmar customers.
“We will deepen our presence in Myanmar with the opening of 20 outlets by the end of this year, including integrating selected outlets into uab bank’s branches,” he said after the ceremony in Yangon.
Signing from uab bank was Managing Director and CEO, Christopher Loh while Tealive master franchisee, Myanmar Food For Thought Co Ltd (MFFT), was represented by executive directors Avinder Singh and Gerald Lee.
Loo said the partnership with uab bank would enable Tealive to integrate their unique store concept and offerings into the bank’s new branches.
“Apart from enabling us to continue spreading joy to people’s lives through tea and coffee, this strategic partnership will also allow us to create a social meeting place for bank customers while elevating the overall customer experience through our innovative offerings,” Loo added.
“We hope Tealive will assist the bank to attract younger consumers while at the same time, it means Tealive is reaching out to customers wherever they are,” he said.
He thanked MFFT Group, a leading food and beverage player in Myanmar, for successfully opening three outlets within a few months.
“We have consistently been serving up more than 21,000 cups a month so far and we will serve more tea lovers each month. There will be two more outlets in February,” Loo disclosed.
MFFT executive directors Avinder Singh and Gerald Lee thanked Loob Holding for the confidence and the support so far. “Indeed it is the leading brand in this region befitting its brand identity of ‘Born in Malaysia, Raised for the World’,” they said.
“In Myanmar, we’re able to run the outlets successfully thanks to the tried-and-tested unique value proposition that Tealive offers – high-quality drinks, highly-affordable and easily-accessible,” they added.
They said the strategic collaboration with uab bank would open a whole new channel through which they could make Tealive more accessible and serve more tea lovers.
For uab bank, Christopher Loh described the collaboration as a win-win arrangement. “Tealive is an excellent fit we want to offer our customers a whole-new banking experience.”
With the successful launch of their brand-new Head Office at uab Tower @ Times City together with the recent awards for “Best Office Interior Design” and “Special Recognition for Bank Facility” from 5 th PropertyGuru Myanmar Property Awards, uab bank is embarking on redefining retail banking in Myanmar with a highly customer centric approach and experience.
Loh said uab bank planned to expand its branch network from the current 78 branches in 47 townships by adding 10-15 new branches each year and has identified Tealive as a strategic partner to transform the customer experience and engagement.
“Our uab bank branches will be designed to meet the discerning needs of today’s dynamic young generation. Moving forward, we see Tealive adding tremendous value to our overall social and lifestyle offering,” Loh said.
“Banking is now very much part of the social lifestyle, so bank branches have to be a place Customers wants to be and to be seen in. In other words, we’ll be ever more trendy and Instagram-able than before,” he quipped.
Founded in 2010, uab bank has won multiple prestigious awards including “Myanmar’s Best Bank” by Euromoney and “Domestic Retail Bank of the Year” bestowed by Asian Banking & Finance Awards.
About Loob Holding Sdn Bhd
Founded in 2010 by Bryan Loo, Loob Holding is a Malaysian-based regional F&B player specialising in the premium quick service segment with a diverse portfolio of seven brands: Tealive, Gindaco, Croissant Taiyaki, Define: Food and Define: Burgers, Ko Ko Kai and Soda Xpress. They collectively serve more than five million consumers per month in more than 500 outlets in Malaysia, China, Vietnam, Brunei, Australia, and the United Kingdom.
About uab bank
uab bank is a leading bank in Myanmar. Recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements, uab bank was named 'Myanmar's Best Bank' by Euromoney, 'Mid-sized Domestic Retail Bank of the Year' by Asian Banking & Finance, and was ranked No.1 in Corporate Governance Disclosure by TiME Pwint Thit Sa Report published by the Myanmar Centre for Responsible Business.
Established in 2010, it is now serving customers from a growing network of over 78 branches in 47 townships across Myanmar. uab provides a wide range of financial services including consumer banking, premier banking, SME banking, corporate banking, trade finance and treasury services. Through its subsidiary, uab securities, they also provide brokerage services, corporate and financial advisory, investment banking and capital market activities.
uab bank believes in leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives. In December 2017, uab launched "Be The Change Myanmar" initiative that represents its commitment to driving change for a better Myanmar, specifically focusing on empowering women and children. It believes uab must operate responsibly and be committed to the community it is in.
For more information, please visit: www.uab.com.mm
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