The Parkson group which has been streamlining its presence in Malaysia over the past year is closing its outlet in Suria KLCC after operating for two decades.
The three-level outlet opened in 1998 and was one of Suria KLCC’s earliest tenants. Parkson currently has more than 100 stores in the region and over 50 in Malaysia.
It is claimed that Suria KLCC is constantly looking to diversify its tenant mix and wanted the lot back to execute their plan for maximising the market growth.
Another two outlets closed down
In 2018, the company closed its 220,000 sq ft Maju Junction outlet located at the Jalan Sultan Ismail-Jalan Tunki Abdul Rahman intersection. It was an anchor tenant of the mall and started operating there in 2014.
Parkson group also shut down its Sungei Wang Plaza outlet which it opened in 1987 as well as the Parkson Flemington outlet in Ho Chi Minh City, Vietnam.
Following the closures, a company spokesperson said that the closures were necessary due to changing market dynamics.
Moving out sale
In conjunction with the news, the Malaysian department-store operation said Parkson Suria KLCC is having a moving out sale until Feb 17, emphasising that everything must go.
If you are planning to visit Suria KLCC during this festive season, do check out the clearance sale and also their Chinese New Year decorations, activities and performance.
Future strategy
Parkson has just opened a new store in M Square, Puchong as well as in Paradigm Mall in Johor Baru and Kuantan City Mall in November last year. Upcoming stores will be opened soon in Bangi and Bintulu.
It is said that there will be a total of 197 malls in Malaysia by 2021, representing 86.2 million sq ft of retail space compared to 170 malls with 62 million sq ft of retail space at the end 2017.
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