RadioShack forges agreement to expand into southeast Asia with 1,000 stores
Fort Worth, Texas — RadioShack Corp. said Thursday it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack’s global footprint across 10 Southeast Asian countries.
Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur.
The Berjaya relationship represents RadioShack’s single largest franchise expansion to date and offers the potential to nearly double the number of RadioShack’s total dealer-franchise locations worldwide, eventually increasing the company’s global footprint to 39 countries.
Berjaya Retail Berhad operates the 7-Eleven and Singer brands that have a combined network of 2,000 stores.
Opus Development to build smaller-format Gander Mountain prototype
Minneapolis — Opus Development Corp. said Wednesday that it has been selected to develop, design and build a new 52,000-sq.-ft. retail store for Gander Mountain Co., located in Valdosta, Ga.
The retail building will be used as a model for future Gander Mountain stores as the retailer looks to introduce a smaller retail concept in small-to-mid-size markets across the country.
The project is scheduled for completion in late 2012.
Opus AE Group will design the building and it will be constructed by Opus Design Build.
CVS/pharmacy to close all Beauty 360 store locations
Woonsocket, R.I. — CVS/pharmacy is shuttering all of its Beauty 360 locations and ceasing operation of the Beauty 360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.
As of May 19, all 25 of the Beauty 360 locations will close and the e-commerce business will cease operation.
The upscale concept was unveiled November 2008 at a Capitol district CVS store in the center of Dupont Circle. The stores carry a wide range of prestige and niche beauty brands from the skin care, cosmetics, men’s grooming and fragrance categories. Plus, its staff of trained and licensed professionals offers a suite of brand-specific signature services including express facials, hand massages and make-up application. Aside from the high-end beauty offerings, Beauty 360 sought to a major statement with its upscale décor and layout, which included a separate entrance.
“The first Beauty 360 store opened in 2008 and kicked off a 25-store pilot that proved to be a tremendous learning experience for our organization. There have been many aspects of the Beauty 360 concept that were positive. In the past four years, we have learned a great deal about our beauty customer through our experience with Beauty 360 and plan to apply many of these learnings to future enhancements within our beauty department at CVS/pharmacy. In 2011, we successfully launched the CVS/pharmacy Beauty Club and introduced our own exclusive beauty brand, Nuance Salma Hayek,” the company stated in a statement sent to Drug Store News.
The CVS Beauty Club marked the first beauty loyalty program introduced at a mass retailer. In the year since launching, the program has reached 10 million members.