For many Malaysians, MyBurgerLab is no stranger as they were known for their American inspired burgers with the special element of using charcoal burger buns. Back in 2012, Chin Ren Yi along with Teoh Wee Kiat and Cheah Chang Ming has ventured into the F&B industry, starting their first burger joint in Seapark, Petaling Jaya.
MyBurgerLab expresses desire to go global, aims to open outlets in Indonesia, Singapore & Middle East by 2025!
After over a decade of operating their business, MyBurgerLab has successfully opened up six outlets in Malaysia and is looking to open up another three outlets in Kuala Lumpur by the end of 2023. Other than that, the team is also looking at cross state expansions aiming for 25 outlets nationwide.
With the recent shareholder onboard, Ren Yi expressed in Tatler Asia that this financial backing will significantly help them especially with their desire to expand globally.
Source: Imran Sulaiman (Tatler Asia)
“Lotus Capital perfectly fulfills our criteria as they have a deep understanding of our industry”, he said.
Following the announcement of a major shareholder coming onboard, the team in now looking at expanding into Singapore, Indonesia and the Middle East by 2025! That being said, their aim for the first global launch would be located in Oman by late 2024.
Karthiik, who is the founder and CEO of private equity firm Lotus Capital DKR, has acquired a 47.5% stake in MyBurgerLab since February. The company has bought over Ren Yi’s two co-founders, Teoh Wee Kiat and Cheah Chang Ming, who has now exited MBL. Ren Yi, together with Andrew Chong who is the founding member and COO of MBL holds the remaining shares.
Source: MyBurgerLab (Instagram)
Exciting times ahead for MBL
Along with its desire to expand globally, Ren Yi has expressed that it’s an exciting time ahead for MBL as the decision to explore international opportunities are a testament to how confident they are towards their brand.
Source: MyBurgerLab (Instagram)
“This will help us meet the aspirations of our customers as well as position ourselves as a global burger destination”, he said, adding on that it would also help nurture their roots in Malaysia.
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