Central Watson plans 250+ new stores
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An aggressive Central Watson expansion plan just unveiled will see more than one new store a week opened in Thailand from now to 2020.
The Hong Kong retail giant’s Thai joint venture with Central Group says it has allocated 1 billion baht (US$28 million) to new stores – enough to fund up to 275 new outlets.
In an interview with The Nation newspaper, MD Rod Routley said despite the Thai retail market remaining competitive, Central Watson has confidence in the retail growth potential of the nation.
“We will continue to invest more here,” he said. “With a positive outlook, we are looking forward to 2016 being another year of great performance,”.
The growth focus will be on metropolitan Bangkok, tourist destinations and provincial cities.
In addition to building up its physical store network – which reached 375 at the end of 2015 – the company is investing on enhancing its eCommerce offer, expanding its private label offer and improving digital communications. Private label sales grew 30 per cent last year, with the addition of 200 new lines.
Routley said Watsons achieved solid growth in the first four months of this year and expects double-digit growth for the full year.
Questions & Answers
Q.How many new stores does Central Watson plan to open in Thailand by 2020?
How many new stores does Central Watson plan to open in Thailand by 2020?
Central Watson plans to open more than one new store a week in Thailand, with enough funding allocated to open up to 275 new outlets by 2020. This indicates a significant expansion of over 250 stores.
Q.What is the budget for Central Watson's new store expansion in Thailand?
What is the budget for Central Watson's new store expansion in Thailand?
Central Watson's Thai joint venture has allocated 1 billion baht, equivalent to US$28 million, for the new store expansion. This funding is intended to cover the costs of opening up to 275 new outlets.
Q.Beyond new physical stores, what other areas is Central Watson investing in?
Beyond new physical stores, what other areas is Central Watson investing in?
In addition to expanding its physical store network, Central Watson is investing in enhancing its eCommerce offering, expanding its private label product range, and improving its digital communications to customers.
Q.What was the growth in Central Watson's private label sales last year?
What was the growth in Central Watson's private label sales last year?
Central Watson's private label sales grew by 30 per cent last year. This growth was supported by the addition of 200 new lines to their private label offer during that period.
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