Thai supermarket chain Villa Market is earmarking up to 400 million baht (US$12.9 million) to open 10 new stores during the remainder of the year, taking its network to 32.

The company said each store will span around 1000 sqm and be staffed by a team of 40-50.

“Competition in the supermarket segment is fiercer, but it’s very challenging, and we’ll work harder to provide tailor-made services in each location in terms of product range and concept stores,” said commercial director Pisit Poosanakhom.

He said Villa Market is not planning to expand overseas yet as Thailand’s retail market is still very promising.

The country’s growing number of middle-income earners and greater urbanisation pose opportunities for Villa Market, said Poosanakhom.