Afternoon Highlight (28/12/11/214/472) Cosway sets aside RM10m for new concept stores

Cosway sets aside RM10m for new concept stores

COSWAY Corp Ltd has set aside RM10 million to introduce a new retail concept in Malaysia next month to incorporate pharmacies within its Cosway stores.
It is understood that an existing Cosway store can add a pharmacy within its premises or an existing pharmacy may have a Cosway store.
Alternatively, a new branch that incorporates both can also be set up.
Cosway, Berjaya Group’s direct-selling company, sells its products via its vast nationwide network.
Its products range from health and nutrition to skincare and kitchenware.
Minister of Domestic Trade, Co-operatives and Consumerism Datuk Seri Ismail Sabri Yaakob officiated at the grand opening of Cosway’s first Free Drugstore here in Japan on Monday.
Also present at the ceremony were Berjaya Corp’s chairman Tan Sri Vincent Tan, Cosway Corp chief executive officer Al Chuah and Cosway Japan president Sean Macdonald.
In a statement released from Japan, the minister praised Cosway for its innovative achievement in creating the world’s first Free Drugstore model.
Of the 2,000 products sold in the shop, more than 400 products are made in Malaysia.
“This is one way to export our products to Japan.
With Cosway, owned by Malaysians, we can actually bring in more Malaysian products into Japan,” he said.
Since pioneering the free store concept in 2007, Cosway has opened almost 2,000 free stores in 14 countries, including Australia, New Zealand, South Korea and the US and the UK.
Currently, Cosway has opened 35 stores in Japan.
Cosway’s free store concept empowers many enterprising individuals with a risk-free, turnkey business opportunity.
They learn business and entrepreneurial skills, while earning a sustainable income without the usual costs and risks associated with traditional business models.
This is because Cosway bears the cost of renovations, equipment, IT systems, rent, utilities and promotion materials and products are supplied on a consignment basis.
Chuah expressed confidence that the new Free Drugstore will contribute to the Japanese economy by generating new jobs, improving consumer spending and creating more entrepreneurs.

Source : New Straits Times
Date : 28 December 2011
Afternoon Highlight (28/12/11/214/472)