Tops Thailand parent plans aggressive
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Tops Thailand parent Central Food Retail has committed Bt6.5 billion (US$183 million) to open new stores during the next five years.
At a function marking the Central Group’s supermarket subsidiary’s 20th anniversary this week, president Alistair Taylor said the company plans to add about 70 new stores annually to reach 600 by the end of 2021. It currently has 205.
“For this year alone, we plan to allocate between Bt1.2 billion and Bt1.3 billion of investment capital in two areas,” he said.
“Between Bt200 million and Bt300 million will be spent on a system to support our growth. Another Bt600 million will be spent on new stores, and between Bt400 million and Bt500 million on renovations of our existing supermarkets.”
Central Food Retail operates 85 Tops Market stores, 51 Tops Daily and seven Central Food Hall stores, among other formats.
The focus of the expansion plan will be rolling out new Tops Daily and Tops Market stores.
Taylor says the plan will help the company maintain average growth of 10-15 per cent.
Central Food Retail is also considering opportunities outside Thailand.
“There are also many opportunities we have seen in neighbouring countries. However, there is no fixed plan decided by the company at this moment.”
Questions & Answers
Q.What is the total investment Central Food Retail plans to make over the next five years?
What is the total investment Central Food Retail plans to make over the next five years?
Central Food Retail plans to invest Bt6.5 billion (US$183 million) over the next five years. This capital will fund new store openings and support the company's aggressive expansion strategy within Thailand.
Q.Which specific store formats will be prioritised in the expansion plan?
Which specific store formats will be prioritised in the expansion plan?
The expansion plan will primarily focus on rolling out new Tops Daily and Tops Market stores. Central Food Retail currently operates 85 Tops Market stores and 51 Tops Daily outlets across Thailand.
Q.What is the breakdown of Central Food Retail's investment for the current year?
What is the breakdown of Central Food Retail's investment for the current year?
For this year, between Bt1.2 billion and Bt1.3 billion is allocated. Bt200-300 million is for system support, Bt600 million for new stores, and Bt400-500 million for renovating existing supermarkets.
Q.Is Central Food Retail planning to expand its operations outside of Thailand?
Is Central Food Retail planning to expand its operations outside of Thailand?
Central Food Retail is considering opportunities in neighbouring countries. However, the company has not yet established a fixed plan for international expansion at this moment.
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