Reported on
November 21, 2024
Sector
🍴 Food & Drink
Related to
Type
BDS Win
Boycott pressure has forced the closure of 50 Starbucks outlets in Malaysia, amounting to roughly one eighth of its 408 stores in the country. According to this report by New Arab, "analysts from Maybank Investment Bank suggest the brand may be losing its appeal permanently."
Starbucks operates under the company Berjaya Food in Malaysia, which saw a net loss of RM38.2m ($8.6m) for the period of April, May and June.