Mynews.com
 | |
| Private limited company | |
| Industry | Retailing |
| Founded | 25 December 1996 - Damansara, Selangor, Malaysia |
| Founder |
|
| Headquarters | 258-259, Jalan KIP 4, KIP Industrial Park, 52200 Kuala Lumpur, Malaysia |
Number of locations | Over 238 stores (As of December 2015) |
Area served | Malaysia |
| Products | Magazines, books, convenience/forecourt store, food and beverages, travel accessories |
| Services | Western Union money transfer |
Number of employees | Over 600 (As of July 2013) |
| Website |
www |
myNEWS.com is a news and convenience store retail chain located in Malaysia. Founded by Dang Tai Luk,[1] its first flagship store opened on 25 December 1996. To date, it has more than 160 outlets,[2] the majority of which are located in the urban areas of West Malaysia. It is currently serving over 2.5 million customers monthly and has more than 600 employees.
Its closest competitors include other newsstands, convenience store chains that sell similar products such as 7-Eleven and petrol kiosks, as well as bookstores such as Popular Holdings and MPH Group.
History
On 25 December 1996, the first newsstand outlet called MagBit in 1Utama was established by Dang Tai Luk and his wife Ling Chao. On December 1998,[1] a third outlet was established and named myNEWS.com. That same year, a holding company called Bison Stores Sdn Bhd was formed to manage and grow the myNEWS.com outlets.
As the number of outlets grew, there was a shift in operations. Unlike the industry norm of going through middle men in the form of distributors,[3] Bison Stores went directly to many of the largest publishing houses in Malaysia to source for printed products. As part of their service to publishers, a sales reporting system was customized to offer a better efficiency rate and provide timely market insights and movement of products.[1]
Market shopping behavior has changed to favor the locations of modern trade such as shopping malls and hypermarts [4] as they are more convenient, accessible and appealing to the customers. Shoppers are lured by the locations of the outlets, environment, product display, promotions and the loyalty programs. As such, myNEWS.com was the first to move from the typical newsstand locations to modern trade by positioning themselves in key locations where the majority of their customers are located i.e. shopping malls, hypermarts, offices, hospitals, resorts, theme parks,[5] transportation hubs and airports.
In 2012, WHSmith partnered with Bison Stores in opening three new airport stores in Kuala Lumpur International Airport (KLIA).[6] This is WHSmith's first foray into the Asian market offering their extensive product range to airport customers.[7]
Bison Stores also operates 4 other brands, namely Magbit, Newsplus, The Front Page and myNEWScafe.
Products & services
myNEWS.com outlets carry products ranging from a large selection of magazines to convenience products such as household items, snacks and drinks that include its co-proprietary brand of natural mineral water with Dasani and Madeleine buns. It also offers a variety of services available at selected outlets including Western Union money transfers, automated teller machines, photocopying, mobile phone and Touch 'n Go reloads, as well as self-served food and hot beverages.
Outlets
Bison Stores currently has over 170 outlets mainly in West Malaysia and 1 outlet in Kuching, Sarawak. It is mainly concentrated in the Central region, operating in major shopping outlets including Mid Valley Megamall, 1 Utama, Pavilion KL, Suria KLCC, Sunway Pyramid, Empire Subang, Setia City Mall, Bukit Raja Shopping Centre, Aeon Bukit Tinggi, Dataran Pahlawan Melaka Megamall, Queensbay Mall, Jusco Tebrau, Little Red Cube [5] and The Spring. It also has outlets in transportation hubs, such as KLIA2, KL Sentral and selected LRT stations.
Store design
The design for myNEWS.com outlets is modern and contemporary with an emphasis on brightness and airiness.[1]
References
- 1 2 3 4 Tan, Emily (7 March 2011). "The Newsstand King". The Edge. Retrieved 21 July 2013.
- ↑ "Setia City Mall Tenants". Setia City Mall. Retrieved 21 July 2013.
- ↑ Mickey, Bill. "How the Sale of Comag Might Impact the Newsstand Supply Chain". Folio. Retrieved 22 July 2013.
- ↑ "Living in a Material World". Grad Malaysia. Retrieved 21 July 2013.
|first1=missing|last1=in Authors list (help) - 1 2 Loh, Peggy (2 July 2013). "Entertainment, Fun at Little Red Cube". The New Straits Times. Retrieved 21 July 2013.
- ↑ Rimmer, John (19 June 2012). "WHSmith returns to Asia with new stores at KLIA and Langkawi". The Moodie Report. Retrieved 21 July 2013.
- ↑ InsideRetailAsia (20 June 2012). "WHSmith chooses Malaysia for Asian entry". InsideRetailAsia. Retrieved 21 July 2013.