Thai Retail Market – CRC to Open 260 New Outlets in 2014
In line with an improving economic outlook, two Central Retail Corporation (CRC) units aim to open next year a combined total of 260 units.
Central Food Retail Co, the operator of Tops supermarket, Tops Market and Tops Daily, plans to add 60 shops, while Central FamilyMart Ltd expects to introduce 200 FamilyMart convenience stores.
Alistair Taylor, president of Central Food Retail, said the unit has earmarked 1.7 billion baht to open 60 stores, of which 24 will be Tops Daily mini-supermarkets.
With the new outlets, Tops will operate 180 branches across all its formats,he said.
“We are optimistic about the 2014 retail outlook,” he said.
Shoppers are now giving less importance to price while valuing quality and safety, which can benefit food retail operators like Tops, he added.
Meanwhile, Central FamilyMart will invest at least 1 billion baht in new FamilyMart branches, said CEO Nath Vongpanich.
The new outlets will be added throughout the country but especially in tourist destinations.
The two firms yesterday initiated the conversion of 74 small Tops Daily outlets of 250 square metres or less into FamilyMart branches under a renovation budget of 30 million baht.
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Source | Bangkok Post 20 November 2013