CRC spending up to Bt1.7 bn on new stores next year
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Central Retail Corp has set aside between Bt1.5 billion and Bt1.7 billion to open 55 to 60 new branches of Top daily, Tops Market and Central Food Hall next year, following the successful restructuring of the group.
CRC, which has four brands – Top daily, FamilyMart, Tops Market and Central Food Hall – meanwhile targets sales of Bt30 billion this year, representing double-digit growth from last year’s level.
After acquiring a 50.29-per-cent stake in Central Family Mart in September last year, the group set aside Bt42 million to renovate 74 branches of Top daily into FamilyMart outlets and open two more Top daily branches.
The newly revamped FamilyMart convenience stores, which each cover up to 250 square metres of floor space, began to open their doors on November 15, said Alistair Taylor, president of Central Food Retail.
Meanwhile, the Top daily brand will comprise mini-supermarkets each covering more than 250 square metres.
CRC’s plans to open two new Top daily branches by year-end will give it 12 such outlets in total. The new outlets will cost between Bt5.5 million and Bt6 million apiece.
After turning the smaller 74 Top daily branches into FamilyMarts, CRC will have 1,040 FamilyMart outlets nationwide. It targets sales of Bt13 billion from these operations this year, some 20 per cent higher than last year.
“Our target to have 3,000 stores [Family Mart] by 2017 is still ongoing, and we expect to meet that goal,” said Nath Vongpanich, chief executive officer of Central FamilyMart.
New FamilyMart locations will focus on tourist destinations such as Chiang Mai, Krabi and Rayong.
“The political turmoil is currently impacting the domestic market [Thai consumers], but we still expect to maintain our business growth this year,” he added.
However, he warned that if the political problems were to be prolonged, there would be an adverse effect on tourism business, which would damage the country’s economic growth in the longer term.growth in long term.
