by SHAFIQQUL ALIFF / pic source The Curve
BOUSTEAD Properties Bhd’s subsidiary, Boustead Curve Sdn Bhd, has signed a document of understanding (DoU) with K Ecomart Sdn Bhd, a subsidiary of the Korean Malaysia Trade Group (KMT Group), to bring in the first Korean premium retail store, K Plus Food Market, to The Curve shopping mall in Mutiara Damansara, Selangor.
Spanning approximately 30,000 sq ft on the ground floor of the mall, K Plus Food Market will open in the fourth quarter of 2022.
Boustead Properties CEO Khairul Azizi Ismail said the move is part of a strategy reshuffle and to further enhance The Curve’s tenant mix.
The group is leveraging the Korean cultural phenomenon which is now impacting domestic consumption, where various other Korean-influenced stores will be opened at the mall later this year.
“There is a great potential to be leveraged through this partnership, which allows us to offer our customers the widest range of premium Korean food and household items under one roof,” he said during the DoU signing ceremony yesterday.
Khairul Azizi added that the DoU is expected to increase the revenue for The Curve as the latest addition of Korean premium retail stores covers about 5% of the net rental area.
“Despite the pandemic challenges, we are improving our tenant mix with over 20 new tenants signed in the first half of 2022 which is a testament to our resilience and adaptability,” he said.
Meanwhile, KMT Group chairman Datuk Matthew Lee said given the strong track record of 25 years as an importer and distributor of various Korean products, the establishment of K Plus Food Market as a concept store at The Curve allows the group to grow strategically while maintaining quality and affordability.
“All products that will be retailed at The Curve will be produced by a team of dedicated experts.
“We are grateful to The Curve for seeing the potential and helping us realise our dream of setting up this concept store to share the Korean culture through our unique products,” he said.