Retailer Point S opens first Asia store in Malaysia
Independent retailing group Point S has opened its first store in Asia at Petaling Jaya, near Kuala Lumpur, Malaysia. Malaysia’s public listed GIIB group has a license agreement for Point S in Malaysia. GIIB group, known regionally for its ‘Supercool’ brand of retread rubber, took a significant step by venturing into Point S retailing franchise. Headquartered in France since 1971, Point S is the leading independent tyre and automotive service retailing group.
“We had deliberately positioned ourselves for other business model within the tyre industry, and saw an opportunity in the retailing scene of Malaysia, and especially with Point S retailing concept- which is a huge success not just in Europe, but in North America and in other regions as well,” said Tai Qisheng, Deputy CEO of GIIB group and Managing Director of Point S Malaysia.
With the opening of the store, Point S is effectively present in Europe, North America, Africa, and now Asia. This is a significant move to make Point S, the first truly global tyre retailer.
“We are elated to cross over to Asia- in our ambitious drive to be the first global tyre retailing chain. We registered our Point S Asia representative office in Singapore just earlier this year, and appointed GIIB to be our partner in Malaysia, and now our first store in Asia. This is really a significant moment for Point S, as well as the tyre industry,” said Fabien Bouquet, CEO of Point S Development.
Point S operates in 32 countries, with over 3500 retailing points of sale. In 2016, Point S registered consolidated revenue of more than 3 billion Euro, selling more than 16 million tyres globally.