Australian Franchise News – 30-06-14
Australia’s largest and fastest growing drive-thru coffee franchise business Muzz Buzz has taken its next giant leap towards becoming a global lifestyle consumer brand by signing an exclusive joint venture agreement to create Muzz Buzz Japan Ltd (Muzz Buzz Japan).
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, in a consumer market more than five times larger than Australia.
Speaking on his return to Muzz Buzz’s global headquarters in Perth, Executive Chairman Warren Reynolds described the Japanese deal as a game changer for the company.
“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.
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. Our 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.”
Muzz Buzz Japan Ltd Managing Director Mr. Kazu Tohda believes the Muzz Buzz brand will be a great hit in Japan.
“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. 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.”
Muzz Buzz Japan will be jointly owned by Mr. Takuya Hara (64%), who will become President and CEO of Muzz Buzz Japan and Managing Director Mr. Kazu Tohda (11%), with Muzz Buzz Australia owning the remaining 25%.
Muzz Buzz Japan currently has four employees but is expecting to expand massively in the next two years as the company develops new merchandise, products and services for the Japanese market.
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.