Central Retail in aggressive expansion
Thai retail group Central Retail is plotting a massive expansion with 260 new stores to open by 2014.
Central plans to open 60 new Tops, Tops Market and Tops Daily stores and 200 FamilyMart convenience stores next year.
The company is optimistic about its outlook for 2014 as more and more consumers attach greater importance to quality and safety and less importance to price, which, according to Central Food Retail president Alistair Taylor, benefits food retailers.
Taylor says the company is earmarking 2.7 billion baht ($85.3 million) to open the new stores.
To accelerate the expansion of FamilyMart, Central Retail has began converting Tops Daily stores, sized less than 250 sqm into FamilyMart stores.
Central’s massive expansion strategy forms part of its goal to grow its sales to 30 billion baht ($947 million) this year.