RadioShack, a US-based retailer of mobile and technology products, services and accessories, has singed a master development agreement with Malaysian retail group Berjaya Retail Berhad.
The latest long-term agreement will allow RadioShack to substantially expand its global footprint across 10 Southeast Asian countries.
The agreement offers RadioShack the potential to nearly double the number of its total dealer-franchise locations worldwide, eventually increasing its global footprint to 39 countries.
Under the agreement, Berjaya Retail, as franchise developer, is expected to set up at least 1,000 franchise outlets across the Association of Southeast Asia Nations within the first ten years.
Berjaya RS, the Malaysian subsidiary of Berjaya Retail, is likely to open its first RadioShack locations later this year in Kuala Lumpur.
Berjaya RS chief operating officer Yau Su Peng said the company expects to offer ample employment opportunities as it roll out the stores within Malaysia.
RadioShack franchise vice president Martin Amschler said the company's franchising objective is to offer its small-format consumer electronics retailing experience globally in association with local experts.
"Based on its experience with multiple U.S. and international brands, we believe that Berjaya will represent RadioShack in Southeast Asia with the same high standards," Amschler said.
"We are continuing to explore and cultivate relationships with qualified candidates to introduce RadioShack's small-format electronics experience in other global regions.
The Texas-based firm offers master franchisees a range of modular, flexible approaches to retailing: stand-alone, mall-based units or strip-centre units, leased or built.
Berjaya Retail Berhad operates 7-Eleven and Singer brands that have a combined network of 2,000 retail outlets.
RadioShack's retail network includes about 4,700 company-operated stores in the US and Mexico, 1,500 wireless phone centres in the US, and over 1,100 dealer and other outlets worldwide.
Image:Berjaya RS, the Malaysian subsidiary of Berjaya Retail, is likely to open its first RadioShack locations later this year in Kuala Lumpur. Photo: RadioShack