CP All is assessing expansion opportunities in China and India for its Siam Makro cash-and-carry retail concept.
It is also evaluating opening a store in Myanmar after experiencing success in nearby Cambodia.
“Siam Makro is on a new journey of expanding in overseas markets,” CP All’s CFO Kriengchai Boonpoapichart said in an interview with Bloomberg.
“It will be a tough and challenging road, but it’s a good opportunity with large populations to tap, compared with Thailand’s mature market.”
Siam Makro set up Lots Wholesale Solutions in India earlier this year with plans to invest as much as US$145 million over five years. The first store is on track to open within a few months along with a second store in Cambodia.
CP All is the listed retail business of Thai billionaire Dhanin Chearavanont. It paid more than $6 billion to buy Siam Makro five years ago, adding to its 7-Eleven convenience-store chain which now numbers about 11,000 across Thailand, with plans to open a further 700 annually.