Inside Scoop : The story behind the homegrown Malaysian ice-cream brand
When it comes to a uniquely Malaysian success story, Inside Scoop certainly fits the bill. The company, the brainchild of Edmund Tan and his wife, Lim Shiew Li, started as a dream to make genuinely fresh ice cream for Malaysians.
Noticing a gap in the premium ice cream market where it was predominantly served by international chains, they set out to make ice cream that was made fresh locally, creating imitable natural flavours and smooth, ultra-creamy textures unlike mass produced ones.
They were guided by the philosophy of using high quality ingredients sourced from the world over and inspired by their Malaysian taste buds, eating exploration, travels and current trends.
New beginnings
In February, a local Malaysian dairy company, Farm Fresh, acquired a 65 per cent stake of Inside Scoop for RM83.9 million (US$19 million).
It has been speculated that the infusion of capital will allow the company to scale more aggressively and also enter the consumer packaged goods segment (CPG).
“The rationale for the transaction is simple. We’re looking to grow and my wife and I are still committed to running the business on a daily basis. It’s all about raising sufficient capital for us to grow the business further,” Edmund Tan, co-founder of Inside Scoop, told Inside Retail.
Tan also revealed that a large part of the cash infusion is being channelled to investors that started the company with them, and of course as Farm Fresh is one of their key suppliers, there is also a strategic rationale to work together as a team.
A bit of background
Interestingly, Tan and Shiew Li had no experience in the culinary side of things. Tan was an investment banker and his wife had a background in actuary. Shiew Li enrolled in Gelato University in Italy, and soon Inside Scoop came to be in 2013.
Tan and Shiew Li opened their first outlet in Bangsar, Kuala Lumpur in 2013. In less than a year, they opened their second branch in Damansara Jaya. They became unstoppable as they launched more outlets in urban areas like Kuantan, Johor Bahru and Ipoh.The brand now has 37 outlets nationwide.
“We had a good run during the Covid-19 pandemic as we were on the delivery platforms, and now we are seeing a big change in people coming to the stores and dining in,” Shiew Li told Inside Retail.
That’s not to say the business hasn’t had its fair share of challenges. According to Tan, logistical challenges will always be a key factor, given the hot and humid weather in Malaysia and the importance of maintaining the cold chain for its products.
“Our employees are of course our biggest assets, but also our biggest challenge. Finding the right personnel for the right place, and even getting the right number of staff to take on the myriad of responsibilities. That’s probably the biggest challenge we face on a daily basis,” he said.
In a lot of ways, the fact that both of these founders had no prior experience in the food business turned out to be quite a blessing in disguise. “Not knowing too much is a good thing sometimes, you don’t overthink and you don’t have analysis paralysis,” Shiew Li opined.
Focusing on core competencies
Inside Scoop has got its work cut out in the Malaysian marketplace. Brands like Haagen Dazs and Baskin Robbins rule the roost and it’s quite extraordinary for a smaller business like Inside Scoop to hold its own in the face of these international conglomerates.
“There’s no secret in what we do. We try to resolve problems from a strategic viewpoint, and we try to do it in a more cost effective way versus our competitors. Company culture and people are also important. Treat people the right way and give them a good career trajectory,” Tan stated.
Shiew Li chimed in by saying that they treat their employees with respect, and do not penalise them for mistakes. “I do not think fear is a good motivational tool, so if you instil fear in them, it’s going to be difficult to make progress,” she added.
Tan is in it for the long haul. He hopes that the company can remain relevant in the next 20 to 30 years and maintain a hold on this ever-evolving marketplace.
The brand is always trying to come up with new collaborations and partnerships to remain innovative and exciting, especially to the Gen Z and Millennials demographic too.
He said the brand will come up with at least four to six new flavours and seasonal campaigns in a calendar year to give people a new reason to visit their stores.
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