Coca Holding plans 18 new restaurants
Coca Holding International plans to invest between Bt180 million and Bt200 million to open at least 18 restaurants this year, six of which will be in overseas markets and another 12 in Thailand.
About 10 new restaurants will be opened next year.
The company will focus on four major brands for new store expansion, comprising Coca Suki, Coca Grill, Mango Tree and Bistro.
Pitaya Panpensophon, chief executive officer of Coca Holding International, said the company would concentrate on the establishment of new restaurant branches in both the domestic and international markets. The expansion will be under its existing restaurant brands and the development of new brands aimed at serving dining behaviour of modern consumers, including teenagers, working people, and families who enjoy dining out.
The move reflects the company’s sales growth, which was posted at 48 per cent year on year in the first six months of 2012. It is the highest growth in the company’s 10 years of operation, which recorded average annual growth of 15-20 per cent.
Pitaya said 2012 “will be a challenging year for the company, which has increased its investment capital for the dramatic growth plan, which is based on a strategic idea of the third generation of the family that founded the Coca business, who have seen greater expansion opportunity through mass-market trends. It is different from the former generation, who expanded the business cautiously.”
In addition to the restaurant business, the company is expanding into the beverage market with the launch of ready-to-drink pasteurised tea under the brand Aqua Coca, which will be placed through the 7-Eleven convenience-store network to reach target customers effectively.
Pitaya said he planned to retire from the company, allowing the third generation of the family to manage the business fully and pursue the ambition of being a global brand. The company wants to be a world-class restaurant chain recognised by consumers around the world via dramatic expansion in overseas markets.
Pitaya himself will take on the role of food adviser as well as investing in other diversified businesses, such as boutique hotels in Bangkok and Hua Hin.
Coca Holding International currently operates more than 66 branded restaurants in 13 markets throughout the world, comprising Thailand, Indonesia, Japan, Laos, Myanmar, Malaysia, Singapore, Cambodia, Vietnam, Hong Kong, the Philippines, England and Dubai. It plans to expand into India by the end of this year.
The company plans to increase the number of its restaurants to 71 by the end of the year, and to 81 next year. It targets not less than Bt1.3 billion in sales this year, up from Bt800 million in 2011.
