Giant (hypermarket)
{{Short description|Supermarket chain}}
{{EngvarB|date=May 2017}}
{{Use dmy dates|date=May 2017}}
{{Infobox company
| name = GCH Retail (Malaysia) Sdn Bhd
| logo = Giant.svg
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| image = Giant Hypermarket Kelana Jaya (220730) 1.jpg
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| image_caption = A Giant Hypermarket in Petaling Jaya, Malaysia
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| type = Private Limited Company
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| industry = Retail: Discount stores, grocery stores, and hypermarkets
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| founded = {{start date and age|df=yes|1944}} in Kuala Lumpur, Federated Malay States (now Malaysia)
| founder = Teng Family
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| hq_location = Shah Alam
| hq_location_city = Selangor
| hq_location_country = Malaysia
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| num_locations = 40 store outlet and 40 Giant Mini
| num_locations_year = 2023
| area_served = Malaysia
| key_people = Simon Keswick (CEO)
Howard Mowlem (Chairman/GFD)
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| parent = Teng Family (1944–1999)
DFI Retail Group (1999–2023)
Macrovalue (2023–present)
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| website = {{URL|https://giant.com.my/}} (Malaysia)
{{URL|https://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,{{cite web|url=http://www.bt.com.bn/home_news/2008/03/23/bruneians_go_all_out_for_giant_bargains|title=Bruneians go all out for Giant bargains|author=Ubaidillah Masli|publisher=The Brunei Times|date=23 March 2008|access-date=16 April 2016|archive-url=https://web.archive.org/web/20160416064349/http://www.bt.com.bn/home_news/2008/03/23/bruneians_go_all_out_for_giant_bargains|archive-date=16 April 2016|url-status=dead}} Cambodia,{{cite web|url=https://www.khmertimeskh.com/news/24085/malaysia---s-giant-opens-first-cambodia-supermarket/|title=Malaysia's Giant Opens First Cambodia Supermarket|publisher=Khmer Times|date=21 April 2016|access-date=22 January 2019}}{{Dead link|date=June 2020 |bot=InternetArchiveBot |fix-attempted=yes }} Indonesia and Vietnam.{{cite web|url=http://english.thesaigontimes.vn/19036/Supermarket-Giant-to-be-opened-in-Vietnam.html|title=Supermarket Giant to be opened in Vietnam|author=Quoc Hung|publisher=The Saigon Times|date=31 August 2011|access-date=16 April 2016|archive-url=https://web.archive.org/web/20160416064628/http://english.thesaigontimes.vn/19036/Supermarket-Giant-to-be-opened-in-Vietnam.html|archive-date=16 April 2016|url-status=dead}} In 2016, Giant was the largest supermarket chain in Malaysia.{{cite web|url=https://apps.fas.usda.gov/newgainapi/api/report/downloadreportbyfilename?filename=Retail%20Foods_Kuala%20Lumpur_Malaysia_11-21-2016.pdf|title=Malaysia Retail Foods Annual 2016|author=Abdul Ghani Wahab|publisher=USDA Foreign Agricultural Service|date=21 November 2016|access-date=17 February 2018|archive-date=21 December 2016|archive-url=https://web.archive.org/web/20161221045221/http://gain.fas.usda.gov/Recent%20GAIN%20Publications/Retail%20Foods_Kuala%20Lumpur_Malaysia_11-21-2016.pdf|url-status=live}} Its parent company also operates Mercató, Cold Storage and TMC in Malaysia.{{Cite web |title=Giant hypermarkets to be replaced by Giant Malls |url=https://theedgemalaysia.com/node/659016 |access-date=2023-06-10 |website=The Edge Malaysia}}
History
File:Logo of Giant Hypermarket.svg
File:Giant Mini Kota Damansara.jpg]]
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.{{cite web|url=http://www.highbeam.com/doc/1P1-82507476.html|archive-url=https://web.archive.org/web/20150329113942/http://www.highbeam.com/doc/1P1-82507476.html|url-status=dead|archive-date=29 March 2015|title=Giant TMC adopts e-commerce initiative|author=Ferina Manecksha|publisher=New Straits Times |date=13 January 2000|access-date=16 April 2016}} In 1999, Dairy Farm International Holdings bought a 90% interest in the chain, with the Teng family retaining the balance.{{cite web|url=http://www.highbeam.com/doc/1P1-82571812.html|archive-url=https://web.archive.org/web/20150329113944/http://www.highbeam.com/doc/1P1-82571812.html|url-status=dead|archive-date=29 March 2015|title=Giant TMC to open ninth outlet|publisher=New Straits Times |date=16 October 2000|access-date=16 April 2016}} 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.{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=5546725|title=Company Overview of GCH Retail (Malaysia) Sdn Bhd|publisher=Bloomberg L.P.|access-date=16 April 2016|archive-date=23 April 2016|archive-url=https://web.archive.org/web/20160423174448/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=5546725|url-status=live}}
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.{{cite news |last1=Ganesan |first1=Vasantha |title=Giant partners NS royal family-controlled firm |url=https://www.theedgemarkets.com/article/giant-partners-ns-royal-family-controlled-firm |access-date=3 January 2020 |work=The Edge (Malaysia) |publisher=The Edge Financial Daily |date=25 February 2015 |archive-url=https://web.archive.org/web/20200103171800/https://www.theedgemarkets.com/article/giant-partners-ns-royal-family-controlled-firm |archive-date=3 January 2020}}{{cite news |last1=Ganesan |first1=Vasantha |title=20 more Giant and Cold Storage stores to close |url=https://www.theedgemarkets.com/article/more-giant-stores-closing |access-date=3 January 2020 |work=The Edge (Malaysia) |date=20 August 2019 |archive-date=21 October 2019 |archive-url=https://web.archive.org/web/20191021115058/https://www.theedgemarkets.com/article/more-giant-stores-closing |url-status=live }}
In December 2011, Giant expanded into Vietnam.{{cite web|date=2019-06-30|title=10 Facts About Giant, The Supermarket From M'sia That is Everywhere in S'pore|url=https://goodyfeed.com/10-facts-about-giant-the-supermarket-from-msia-that-is-everywhere-in-spore/|access-date=2021-04-23|website=Goody Feed|language=en-US|archive-date=28 May 2021|archive-url=https://web.archive.org/web/20210528013046/https://goodyfeed.com/10-facts-about-giant-the-supermarket-from-msia-that-is-everywhere-in-spore/|url-status=live}} 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.{{cite web|title=Dairy Farm Annual Report 2018|url=https://www.dairyfarmgroup.com/DairyFarm/media/Dairy-Farm/Investors/Financial-Reports/ar2018.pdf|archive-url=https://web.archive.org/web/20200107025454/https://www.dairyfarmgroup.com/DairyFarm/media/Dairy-Farm/Investors/Financial-Reports/ar2018.pdf|archive-date=7 January 2020|access-date=7 January 2020|website=www.dairyfarmgroup.com|page=102}} As such, the Group has exited from supermarket and hypermarket business in Vietnam.{{cite news|last1=Nhung|first1=Hong|date=30 November 2018|title=Giant hypermarket becomes Auchan Crescent Mall|work=vneconomictimes.com|publisher=Vietnam Economic Times|url=https://vneconomictimes.com/article/business/giant-hypermarket-becomes-auchan-crescent-mall|access-date=7 January 2020|archive-url=https://web.archive.org/web/20200107024023/https://vneconomictimes.com/article/business/giant-hypermarket-becomes-auchan-crescent-mall|archive-date=7 January 2020}}{{cite news|last1=Stockdill|first1=Robert|date=1 March 2019|title=Dairy Farm Group profit takes a hit from restructure|work=Inside Retail Asia|url=https://insideretail.asia/2019/03/01/dairy-farm-group-profit-takes-a-hit-from-restructure/|access-date=7 January 2020|archive-url=https://web.archive.org/web/20200107024357/https://insideretail.asia/2019/03/01/dairy-farm-group-profit-takes-a-hit-from-restructure/|archive-date=7 January 2020}}
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.{{cite web|date=2019-07-15|title=Hypermarkets face a bleak future on waning appetite|url=https://themalaysianreserve.com/2019/07/15/hypermarkets-face-a-bleak-future-on-waning-appetite/|access-date=2021-04-23|website=The Malaysian Reserve|language=en-US|archive-date=23 April 2021|archive-url=https://web.archive.org/web/20210423190136/https://themalaysianreserve.com/2019/07/15/hypermarkets-face-a-bleak-future-on-waning-appetite/|url-status=live}} In 2019, it closed at least six outlets in Peninsular Malaysia operations. It comprises 2 hypermarkets and 2 Cold Storage outlets in Selangor, 1 each in Kedah, Perak, and Kuala Lumpur.{{cite news |title=Tale of the shrinking Giant |url=https://www.theedgemarkets.com/article/tale-shrinking-giant |access-date=3 January 2020 |work=The Edge (Malaysia) |publisher=The Edge Markets |date=31 July 2019 |archive-url=https://web.archive.org/web/20200103174949/https://www.theedgemarkets.com/article/tale-shrinking-giant |archive-date=3 January 2020}} While exiting totally from Sabah and Sarawak.{{cite news |title=Giant to exit Sabah and Sarawak |url=https://www.theedgemarkets.com/article/giant-exit-sabah-and-sarawak |access-date=12 February 2020 |work=The Edge (Malaysia) |publisher=The Edge Markets | date=12 February 2020 |archive-url=https://web.archive.org/web/20200213221334/https://www.theedgemarkets.com/article/giant-exit-sabah-and-sarawak |archive-date=13 February 2020}} 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.{{cite news |last1=Cheng |first1=Kenneth |title=Giant's footprint shrinking in Singapore? Hypermarket chain to close VivoCity outlet in early 2019 |url=https://www.todayonline.com/singapore/shrinking-footprint-singapore-hypermarket-giant-close-vivocity-outlet-early-2019 |access-date=3 January 2020 |work=Today (Singapore newspaper) |publisher=TODAYonline |archive-url=https://web.archive.org/web/20200103174634/https://www.todayonline.com/singapore/shrinking-footprint-singapore-hypermarket-giant-close-vivocity-outlet-early-2019 |archive-date=3 January 2020}} 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.{{cite web|last=Okezone|date=2021-05-25|title=Selamat Tinggal, Gerai Giant di Seluruh Indonesia Ditutup Akhir Juli 2021 : Okezone Economy|url=https://economy.okezone.com/read/2021/05/25/278/2415111/selamat-tinggal-gerai-giant-di-seluruh-indonesia-ditutup-akhir-juli-2021|access-date=2021-05-25|website=economy.okezone.com/|language=id-ID|archive-date=25 May 2021|archive-url=https://web.archive.org/web/20210525075706/https://economy.okezone.com/read/2021/05/25/278/2415111/selamat-tinggal-gerai-giant-di-seluruh-indonesia-ditutup-akhir-juli-2021|url-status=live}}{{cite web|last=Media|first=Kompas Cyber|date=2021-05-25|title=Fokus Tiga Merek, HERO Tutup Seluruh Gerai Giant Akhir Juli Halaman all|url=https://properti.kompas.com/read/2021/05/25/132700421/fokus-tiga-merek-hero-tutup-seluruh-gerai-giant-akhir-juli|access-date=2021-05-25|website=KOMPAS.com|language=id|archive-date=25 May 2021|archive-url=https://web.archive.org/web/20210525075702/https://properti.kompas.com/read/2021/05/25/132700421/fokus-tiga-merek-hero-tutup-seluruh-gerai-giant-akhir-juli|url-status=live}}{{cite web|last=Sandi|first=Ferry|title=Berguguran! Gerai Giant Tutup Berantai, Setop Total Juli 2021 - Halaman 2|url=https://www.cnbcindonesia.com/news/20210525125304-4-248216/berguguran-gerai-giant-tutup-berantai-setop-total-juli-2021|access-date=2021-05-25|website=news|language=id-ID|archive-date=25 May 2021|archive-url=https://web.archive.org/web/20210525075700/https://www.cnbcindonesia.com/news/20210525125304-4-248216/berguguran-gerai-giant-tutup-berantai-setop-total-juli-2021|url-status=live}}
= Rebranding =
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.{{cite news|last=Tay|first=Triffany|title=Giant supermarket to lower prices of daily essentials for 6 months by 20% on average|url=https://www.straitstimes.com/singapore/giant-to-lower-prices-of-essentials-for-6-months|access-date=24 September 2020|work=The Straits Times|date=24 September 2020|archive-date=24 September 2020|archive-url=https://web.archive.org/web/20200924140842/http://www.straitstimes.com/singapore/giant-to-lower-prices-of-essentials-for-6-months|url-status=live}}
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.{{cite web |last1=Saieed |first1=Zunaira |title=Giant step to revamp image |url=https://www.thestar.com.my/business/business-news/2021/04/09/giant-step-to-revamp-image |website=www.thestar.com.my |publisher=The Star |access-date=23 April 2021 |ref=Giant step to revamp image |archive-url=https://web.archive.org/web/20210423171341/https://www.thestar.com.my/business/business-news/2021/04/09/giant-step-to-revamp-image |archive-date=23 April 2021}} Both ShopSmart & G-Ekspres are being rebranded as Giant Mini.{{cite web |last1=Ganesan |first1=Vasantha |title=Mini steps to make a Giant difference |url=https://www.theedgemarkets.com/article/mini-steps-make-giant-difference |website=The Edge Markets |access-date=23 April 2021 |archive-url=https://web.archive.org/web/20210423170453/https://www.theedgemarkets.com/article/mini-steps-make-giant-difference |archive-date=23 April 2021 |date=20 April 2021}}
= New owner =
On 23 February 2023, Giant's operator Dairy Farm announced that it was exiting the grocery retail market in Malaysia, citing increasing competition.{{Cite web |title=Giant operator Dairy Farm to exit Malaysian grocery business after 24 years |url=https://theedgemalaysia.com/node/656464 |access-date=2023-06-10 |website=The Edge Malaysia}} Dairy Farm's grocery business in Malaysia was sold to Macrovalue Sdn Bhd led by Andrew Lim Tatt Keong, a local businessman and entrepreneur.{{Cite web |title=Giant operator Dairy Farm sells grocery business to Malaysian company |url=https://theedgemalaysia.com/node/656553 |access-date=2023-06-10 |website=The Edge Malaysia}} Dairy Farm, however, would still remain the operator of the Cold Storage and Giant franchise in Singapore until 2025, where it will be sold to Macrovalue Pte Ltd on March 2025.
Following the acquisition, Macrovalue announced that Giant Hypermarket in both Singapore and Malaysia will be rebranded as Giant Mall as the parent company attempts to attract more foot traffic and cut down losses.{{Cite web |title=Giant hypermarkets to be replaced by Giant Malls |url=https://theedgemalaysia.com/node/659016 |access-date=2023-06-10 |website=The Edge Malaysia}}
See also
{{Portalbar|Malaysia|Companies|Supermarkets}}
References
External links
{{commons category|Giant Hypermarket}}
- [https://www.giant.com.my/ Giant Malaysia]
- [https://giant.sg/ Giant Singapore]
- [https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=5546725 GCH Retail (Malaysia) Sdn Bhd Company Profile] on Bloomberg L.P.
{{DFI Retail Group}}
{{Singapore supermarkets}}
{{DEFAULTSORT:Hypermarket, Giant}}
Category:Supermarkets of Malaysia
Category:Retail companies established in 1944
Category:Malaysian subsidiaries of foreign companies
Category:Privately held companies of Malaysia
Category:1944 establishments in the Japanese colonial empire