US ice-cream brand Cold Stone Creamery has signed a master franchise agreement with banking and finance services company Srivijaya to open 20 stores in Malaysia over the next five years.
Its first outlet, in Kuala Lumpur, is expected to open this year.
Sri Vijaya’s management and shareholders include investors of F&B outlets such as Las Vacas Meat Shop and Torii Yakitori Restaurant, while some shareholders have had experience developing the Cold Stone Creamery brand in another market.
“Sri Vijaya’s F&B experience and knowledge of the market makes it the perfect fit to develop the brand in Malaysia,” says senior international development VP Eddy Jimenez of Kahala Brands, which owns Cold Stone Creamery.
The brand’s international growth of Cold Stone Creamery began with the opening of an outlet in Tokyo in November 2005. It now has about 1500 locations in nearly 30 international markets including India, Indonesia, Thailand and the Philippines.
With its headquarters in Arizona, the brand’s ice cream with its secret recipe is customised with mix-ins by hand on a frozen granite stone.
Kahala Brands has a portfolio of 22 quick-service restaurant concepts.
