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Thailand Retail Sector – Tesco Lotus Vows to Keep Faith

By on Sep 23, 2015 in Property News, Retail

Thailand Retail - Tesco LotusBritish retail giant Tesco is likely to keep its operation in Thailand despite selling its largest foreign asset in South Korea to improve its poor balance sheet. Tesco Lotus one of the top three retail operators in Thailand and the most recognised retail brand along with 7-Eleven and Central, an industry source said. Tesco Lotus said in a statement that it was confident in Thailand’s growth opportunities and continued to expand its retail operations here. It has recently opened new hypermarkets and Tesco Express stores nationwide.

The retail market in Thailand is thought to have huge potential due to the growth of middle-income consumers and expects to benefit from growing demand from the Asean Economic Community especially from Laos and Cambodia. Tesco is close to opening their regional distribution centre in Surat Thani. Tesco Lotus chief executive John Christie said the company had continued to invest in Thailand as planned since the start of this year by opening new stores in strategic locations nationwide and helping to strengthen local economies.

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Source: Bangkok Post, September 11 2015

Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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