Big boost for Thai food chains
Thai franchisee Evolution Capital is to open more Domino’s Pizza and Coffee Bean & Tea Leaf outlets.
The company will allocate 600 million baht ($18.7 million) to expand its restaurant network across Thailand.
It will increase Domino’s Pizza chain from from 12 by the year-end to up to 70 by 2017.
Coffee Bean & Tea Leaf will be expanded from 17 by the end of this year to up to 70 by 2017.
The company says the spending at its restaurants is unlikely to slacken despite the slowdown of the economy.
It is also adding new brands to its portfolio such as the Magnolia bakery chain and Mr Jone’s Orphanage dessert shop which is to be expanded to Cambodia, Singapore, Japan and South Korea.
Evolution Capital expects its food brands to generate a combined sales of 450 million baht (around $14 million) in the year-end.