Robinson's Asean expansion strategy to take time
Play
Robinson Department Store will next year disclose its strategic expansion plan to open stores in Asean markets, said company president Preecha Ekkunagul.
However, it will take another couple years for actual expansion, which should be in full swing by 2015 when the Asean Economic Community (AEC) is fully implemented.
Robinson yesterday also announced a plan to invest at least Bt2.5 billion domestically to open five new stores annually over the next five years. It will create between 2,500 and 3,000 new jobs per year.
The five-year expansion strategy is set up to cash in on the AEC, which will allow free flow of goods and services throughout the region.
Preecha said the AEC would benefit the opening and rapid development of the Thai economy, especially in border provinces.
“We are not afraid of the more intense competition and are quite well prepared for it, especially in logistics and marketing strategy. We’re also ready to compete in other markets as well.”
Preecha said that to expand abroad, Robinson Department Stores needed to study many criteria, such as rules and regulations in particular markets, investment capabilities and options, and key locations.
He added, however, that the company would remain focused on domestic expansion over the next two to three years before the AEC is fully implemented.
“We will try to achieve 15-per-cent growth per annum over the next five years.”
Robinson yesterday announced that its total sales reached Bt17.6 billion last year, up 19 per cent over 2010. The company also achieved 30-per-cent growth in net profit to about Bt1.2 billion.
Robinson has opened about one or two stores every year over the past five years. It opened two stores in Chon Buri and Khon Kaen in 2009, one in Trang in 2010, which was its first lifestyle centre, and outlets in Chiang Rai, Phitsanulok, and Rama IX Road in Bangkok last year.
The company will open its second Robinson lifestyle centre in Suphan Buri in March.
Preecha said the company also planned to invest about Bt300 million upgrading eight existing stores this year.
