One Step Further Into Europe; Mr DIY Opens In Spain
Spain is the tenth market for Mr DIY.
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Malaysian home improvement retailer Mr DIY is now open for business in Madrid, Spain.
The opening marked a milestone for Mr DIY as Spain is its tenth market.
Accordingly, Mr DIY will compete with the bazaar stores in Spain.
Mr DIY will replicate its Malaysian model where it serves more than 80 million customers in its stores, which measure 1,000 square meters on average.
The latest move cemented Mr DIY’s foothold in the Europan Union (EU), an attractive market to do business with its 500 million consumers.
Conchi Porras Fernández, whose LinkedIn account shows a two-decade career in retail, joined as a chief operating officer in August 2021.
Meanwhile, business development director Ricardo Gomez Frank had a month-long stint in Mr DIY’s Indonesia office before joining the Spanish team in July, his LinkedIn page shows.
The Spanish venture comes on the heels of Mr DIY’s entry into Turkey.
Mr DIY opened its first store in Istanbul in November last year.
READ MORE: Malaysia’s Mr DIY Opens First Store In Europe
It started a second outlet on 9 December and has several stores in Turkey presently, including in capital city Ankara.
Established in Malaysia in 2005, Mr DIY expanded to Thailand, Brunei, Indonesia, Singapore, the Philippines, Cambodia, and India.
Mr DIY is traded on the Main Market of Bursa Malaysia Securities Berhad and is currently valued at RM22.23 billion.
Mr DIY debuted in October 2020 with the issue price of RM1.60 per share.
It was last traded at RM3.54.
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