Muzz Buzz now in Japan, soon in China
Signs an exclusive joint venture agreement to create Muzz Buzz Japan Ltd (Muzz Buzz Japan).
Muzz Buzz Japan will be jointly owned by Muzz Buzz Australia (25%) with Takuya Hara (64%), who will become President and CEO of Muzz Buzz Japan and Managing Director Kazu Tohda (11%).
The agreement provides Muzz Buzz Japan with exclusive rights to all Muzz Buzz drive thru and walk up coffee franchising business operations, including warehousing and distribution, brand merchandising and other Muzz Buzz brand offerings.
"We’ve been researching the Muzz Buzz brand for over seven years and we are attracted to it because of its strong character, high quality products and its brand values of fun and entertainment," said Tohda.
"This is the key factor that Japanese people will respond to. Our goal is to have the Muzz Buzz products in every family home and office and on sale in every supermarket chain in the country. Offering Japanese consumers food made from Australian ingredients will be a strong attraction and a unique selling proposition for our products.”
Japan's consumer market is more than five times larger than Australia, according to the drive-thru coffee franchise business. The team is expecting to expand massively in the next two years as the company develops new merchandise, products and services for the Japanese market.
Warren Reynolds, Executive Chairman of Muzz Buzz noted that its Japanese partners are very experienced at bringing international brands to the Japanese markets and are personally invested in the long term success of the Muzz Buzz brand in Japan.
Meanwhile, Muzz Buzz has also entered into a joint venture agreement in Hong Kong with Trans Holding Australia Pty Ltd which will establish and operate Muzz Buzz drive-thru stores throughout China. Principal of Trans Holding Australia Mr. Jimmy Wong, is expected to open the first two stores in the Chinese cities of Shenzhen and Guangzhou within the next six months.
“Muzz Buzz is one of the most exciting Australian consumer brand marketing success stories in recent years. We have worked extremely hard for over 10 years to grow Muzz Buzz into a valuable global lifestyle and consumer brand," said Reynolds.
Adding, "we now have master franchising agreements covering United Kingdom, Eastern Europe, the Middle East, and New Zealand. This deal effectively turbo-charges our growth throughout the Asia-Pacific region and will enable our brand to continue its exponential growth in the years ahead."
