Thai convenience-store chain Tookdee says it will roll out 49,000 new outlets during the next two years, of a retail model it describes as a “community store by the community, for the community”.
The company operates just 1000 stores currently but says it will open 22,000 more Tookdee outlets next year, apparently through a franchise model.
According to Bangkok Post, the operator of Tookdee, TD Tawandang Co, will invest about US$2 billion on this expansion, US$1.3 billion of which will be used for 15 new warehouses across the county, while the remainder is for technology development and sales promotions.
TD Tawandang is part of the highly successful energy-drink business Carabao and describes itself on its LinkedIn page as “the fastest-growing retail technology company in Thailand”.
“We are disrupting the retail business landscape by shifting the paradigm of traditional retailers. Our company leverages tech-enabled business solutions to unleash local retailer’s potential. Our mission is to become the largest retail network in Southeast Asia, servicing over 100,000 mom-and-pop stores across Asean.
“We aim to ensure that all traditional retailers can be successful and able to thrive in the digitised world. At TD, we not only create business opportunities for traditional retailers but also improve the standard of living for the people,” it says on LinkedIn.
Chairman Sathien Setthasit told the Bangkok Post Tookdee is growing against the tide of an economy that has been devastated by the Covid-19 pandemic “thanks to a business model that fits the shopping behaviour of people who buy items near their home”.
According to Setthasit, Tookdee’s model caters to the references of the local demographic. He said that the brand plans to set a new standard for convenience stores in local communities as they are a vital base of the country’s grassroots economy.
Launched in 2019, Tookdee already operates eight warehouses across the country.