Malaysian favourite supermarket chain has changed its name to Lotuss Stores. Some Malaysians pointed it out on the social media platform sharing a picture of a poster announcing the name change to Lotuss Stores (Malaysia) Sdn Bhd. Some shoppers have also noticed the new name displayed on their MySejahtera applications when checking into the supermarket.
This rebranding news has been officially announced by the supermarket chain on its official Facebook page, yesterday February 15, 2021. It is confirmed that Tesco Malaysia has officially changed its name to Lotuss Store.
Just recently, Tesco agreed to sell its businesses in Thailand and Malaysia to Thailand’s CP Group entities and change to Lotuss Stores
Lotuss Store that previously known as Tesco Malaysia is under CP Group. The company acquired all of Malaysia’s Tesco outlets last year. And recently, Tesco agreed to sell its businesses in Thailand and Malaysia to Thailand’s CP Group entities – billionaire Dhanin Chearavanont for an enterprise value of US$10.6 billion and will return almost two-thirds of the proceeds to shareholders.
The acquisition was approved by the Malaysia Trade Competition Comission (MTCC) in November 2020.
The deal will give CP Group a complementary retail business and enable the company to operate a wider range of outlets. It will gain control of 1,965 Tesco operates in Thailand. Included are 200 Tesco Lotus hypermarkets and 1,600 Tesco Lotus Express convenience stores. It will also buy 74 outlets in Malaysia that have officially rebranded to Lotuss Stores.
According to the Tesco official Facebook page, the rebranding exercise will be completed in 2021. However, it is still unclear whether the new name will be Tesco Lotus or Lotus’s as seen in the Thai stores. It’s not too late to collect your favourite Tesco merchandise before they become antiques. Farewell Tesco Malaysia and thank you for all the memories!