Fashion
CJ Express, which runs convenience stores and supermarkets, plans to invest THB4 billion (US$120 million) in doubling the size of the business.
Its aim is to be earning THB20 billion in sales by 2020, says MD Sathien Setthasit.
He says about THB3.7 billion will be used to open 370 stores and supermarkets this year through to 2020. This would bring store numbers to 600 within the next three years.
The remaining THB300 million will be spent on store renovations and other upgrades.
Sathien says he is confident the investment will help boost sales to THB10 billion this year, up from THB7.4 billion last year.
This year the company has added stores in the central region and in a 250km radius from Ratchaburi province, where it has its distribution centre.
CJ Express is owned by the same stakeholders as energy-drink maker Carabao Group, but the two businesses are run separately. Sathien, who is also a Carabao Group founder, acquired CJ Express about four years ago.
He says CJ Express is quite strong in the central region and helps support sales of Carabao Dang energy drinks.
There are plans to expand CJ Express outlets to the northeast, which supports about 30 per cent of Thailand’s energy-drink market.
Sathien says CJ Express will join forces with Topvalue, a wholly owned e-commerce site, in this year’s fourth quarter.
