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Giant (hypermarket)

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GCH Retail (Malaysia) Sdn Bhd
Company typePrivate Limited Company
IndustryRetail: Discount stores, grocery stores, and hypermarkets
Founded1944; 80 years ago (1944) in Kuala Lumpur, Federated Malay States (now Malaysia)
FounderTeng Family
HeadquartersShah Alam,
Selangor
,
Malaysia
Number of locations
40 store outlet and 40 Giant Mini (2023)
Area served
Malaysia
Key people
Simon Keswick (CEO)
Howard Mowlem (Chairman/GFD)
ParentTeng Family (1944–1999)
DFI Retail Group (1999–2023)
Macrovalue (2023–present)
Websitegiant.com.my (Malaysia)
giant.sg (Singapore)

GCH Retail (Malaysia) Sdn Bhd, doing business as Giant Mall, is a hypermarket brand and retailer chain now mainly in Malaysia, Singapore and formerly Brunei,[1] Cambodia,[2] Indonesia and Vietnam.[3] In 2016, Giant was the largest supermarket chain in Malaysia.[4] Its parent company also operates Mercató, Cold Storage and TMC in Malaysia.[5]

History

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The Giant Hypermarket logo used from 1999 to 2020.
A Giant Mini outlet in Kota Damansara

Giant was founded in 1944 as a small grocery store in Kuala Lumpur and expanded with the opening of the Teng Minimarket Centre (TMC) in Bangsar in 1974.[6] In 1999, Dairy Farm International Holdings bought a 90% interest in the chain, with the Teng family retaining the balance.[7] By 2003, the holding company for the chain had changed its name to Dairy Farm Giant Retail Sdn Bhd, and the chain had eight Giant hypermarkets and 10 supermarkets as well as three Cold Storage supermarkets. Later, the company operated as a subsidiary of Dairy Farm International Holdings Limited and the name was changed to GCH Retail (Malaysia) Sdn Bhd.[8]

GCH Retail was 30%-owned by Syarikat Pesaka Antah Sdn Bhd — a company controlled by the Negeri Sembilan royal family and balance 70% by DFI Mauritius Ltd.[9][10]

In December 2011, Giant expanded into Vietnam.[11] However, in February 2018, the Group disposed of its 100% interest in Asia Investment Supermarket Trading Co. Ltd. (AISTC), operating a hypermarket in Vietnam to Auchan Retail Vietnam, for net cash inflow of US$6.4 million.[12] As such, the Group has exited from supermarket and hypermarket business in Vietnam.[13][14]

Beginning 2017, Giant and its peers in the hypermarket retail segment in Malaysia had been underperforming due to high operational costs, weakening consumer spending, and stiffer competition from smaller supermarkets, retailers and e-commerce.[15] In 2019, it closed at least six outlets in Peninsular Malaysia operations. It comprises 2 hypermarkets & 2 Cold Storage outlets in Selangor, 1 each in Kedah, Perak, and Kuala Lumpur.[16] While exiting totally from Sabah and Sarawak.[17] There had about 16 stores in both of the states which they transferred the business to local stores as new owners rather than closing them permanently. In 2020, Many branches would be replaced by TF Value-Mart or NSK Trade City.

Similar downsize also observed in Singapore with the closure of two stores located at Bukit Panjang and Jalan Tenteram in Whampoa estate, and its VivoCity hypermarket in 2019.[18] It also closed its Parkway Parade hypermarket on 29 February 2020.

In May 2021, Giant announced its withdrawal from Indonesia since 31 July 2021. Some branches would be replaced with Hero Supermarket and IKEA small stores. Hero is previously owned by the DFI Retail Group, as it was spun off in 2024.[19][20][21]

Rebranding

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On 24 September 2020, Giant Singapore announced that it would be undertaking a rebranding exercise, introducing a new logo and new features to its stores. It will also lower prices of daily essentials by 20% average for six months, following NTUC FairPrice's decision to lower prices in order to support Singaporeans during the COVID-19 pandemic.[22]

The rebranding of Giant's logo was extended to Malaysia in April 2021. As part of transformation, Giant introduces a section known as “Ringgit Zone” which has priced its products fixed at RM3 per item for bargain hunters.[23] Both ShopSmart & G-Ekspres are being rebranded as Giant Mini.[24]

New owner

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On 23 February 2023, Giant's operator Dairy Farm announced that it is exiting the grocery retail market in Malaysia citing increasing competition.[25] Dairy Farm's grocery business in Malaysia was sold to Macrovalue Sdn Bhd led by Andrew Lim Tatt Keong, a local businessman and entrepreneur.[26] Dairy Farm remains the operator of Cold Storage and Giant in Singapore.

Following the acquisation, Macrovalue announced on 21 March 2023 that Giant Hypermarket will be rebranded as Giant Mall as the parent company attempts to attract more foot traffic and cut down losses.[27]

See also

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References

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  1. ^ Ubaidillah Masli (23 March 2008). "Bruneians go all out for Giant bargains". The Brunei Times. Archived from the original on 16 April 2016. Retrieved 16 April 2016.
  2. ^ "Malaysia's Giant Opens First Cambodia Supermarket". Khmer Times. 21 April 2016. Retrieved 22 January 2019.[permanent dead link‍]
  3. ^ Quoc Hung (31 August 2011). "Supermarket Giant to be opened in Vietnam". The Saigon Times. Archived from the original on 16 April 2016. Retrieved 16 April 2016.
  4. ^ Abdul Ghani Wahab (21 November 2016). "Malaysia Retail Foods Annual 2016" (PDF). USDA Foreign Agricultural Service. Archived (PDF) from the original on 21 December 2016. Retrieved 17 February 2018.
  5. ^ "Giant hypermarkets to be replaced by Giant Malls". The Edge Malaysia. Retrieved 10 June 2023.
  6. ^ Ferina Manecksha (13 January 2000). "Giant TMC adopts e-commerce initiative". New Straits Times. Archived from the original on 29 March 2015. Retrieved 16 April 2016.
  7. ^ "Giant TMC to open ninth outlet". New Straits Times. 16 October 2000. Archived from the original on 29 March 2015. Retrieved 16 April 2016.
  8. ^ "Company Overview of GCH Retail (Malaysia) Sdn Bhd". Bloomberg L.P. Archived from the original on 23 April 2016. Retrieved 16 April 2016.
  9. ^ Ganesan, Vasantha (25 February 2015). "Giant partners NS royal family-controlled firm". The Edge (Malaysia). The Edge Financial Daily. Archived from the original on 3 January 2020. Retrieved 3 January 2020.
  10. ^ Ganesan, Vasantha (20 August 2019). "20 more Giant and Cold Storage stores to close". The Edge (Malaysia). Archived from the original on 21 October 2019. Retrieved 3 January 2020.
  11. ^ "10 Facts About Giant, The Supermarket From M'sia That is Everywhere in S'pore". Goody Feed. 30 June 2019. Archived from the original on 28 May 2021. Retrieved 23 April 2021.
  12. ^ "Dairy Farm Annual Report 2018" (PDF). www.dairyfarmgroup.com. p. 102. Archived from the original (PDF) on 7 January 2020. Retrieved 7 January 2020.
  13. ^ Nhung, Hong (30 November 2018). "Giant hypermarket becomes Auchan Crescent Mall". vneconomictimes.com. Vietnam Economic Times. Archived from the original on 7 January 2020. Retrieved 7 January 2020.
  14. ^ Stockdill, Robert (1 March 2019). "Dairy Farm Group profit takes a hit from restructure". Inside Retail Asia. Archived from the original on 7 January 2020. Retrieved 7 January 2020.
  15. ^ "Hypermarkets face a bleak future on waning appetite". The Malaysian Reserve. 15 July 2019. Archived from the original on 23 April 2021. Retrieved 23 April 2021.
  16. ^ "Tale of the shrinking Giant". The Edge (Malaysia). The Edge Markets. 31 July 2019. Archived from the original on 3 January 2020. Retrieved 3 January 2020.
  17. ^ "Giant to exit Sabah and Sarawak". The Edge (Malaysia). The Edge Markets. 12 February 2020. Archived from the original on 13 February 2020. Retrieved 12 February 2020.
  18. ^ Cheng, Kenneth. "Giant's footprint shrinking in Singapore? Hypermarket chain to close VivoCity outlet in early 2019". Today (Singapore newspaper). TODAYonline. Archived from the original on 3 January 2020. Retrieved 3 January 2020.
  19. ^ Okezone (25 May 2021). "Selamat Tinggal, Gerai Giant di Seluruh Indonesia Ditutup Akhir Juli 2021 : Okezone Economy". economy.okezone.com/ (in Indonesian). Archived from the original on 25 May 2021. Retrieved 25 May 2021.
  20. ^ Media, Kompas Cyber (25 May 2021). "Fokus Tiga Merek, HERO Tutup Seluruh Gerai Giant Akhir Juli Halaman all". KOMPAS.com (in Indonesian). Archived from the original on 25 May 2021. Retrieved 25 May 2021.
  21. ^ Sandi, Ferry. "Berguguran! Gerai Giant Tutup Berantai, Setop Total Juli 2021 - Halaman 2". news (in Indonesian). Archived from the original on 25 May 2021. Retrieved 25 May 2021.
  22. ^ Tay, Triffany (24 September 2020). "Giant supermarket to lower prices of daily essentials for 6 months by 20% on average". The Straits Times. Archived from the original on 24 September 2020. Retrieved 24 September 2020.
  23. ^ Saieed, Zunaira. "Giant step to revamp image". www.thestar.com.my. The Star. Archived from the original on 23 April 2021. Retrieved 23 April 2021.
  24. ^ Ganesan, Vasantha (20 April 2021). "Mini steps to make a Giant difference". The Edge Markets. Archived from the original on 23 April 2021. Retrieved 23 April 2021.
  25. ^ "Giant operator Dairy Farm to exit Malaysian grocery business after 24 years". The Edge Malaysia. Retrieved 10 June 2023.
  26. ^ "Giant operator Dairy Farm sells grocery business to Malaysian company". The Edge Malaysia. Retrieved 10 June 2023.
  27. ^ "Giant hypermarkets to be replaced by Giant Malls". The Edge Malaysia. Retrieved 10 June 2023.
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