Japanese convenience store brand FamilyMart is set to exit Thailand, with all stores set to be rebranded by the end of this year.
Three years ago, Central Retail Corporation bought out FamilyMart’s share in their joint venture in the market, at the time describing it as a precursor to network expansion as the master franchise holder there. Back then, there were 1000 FamilyMart stores trading in Thailand.
Since December last year, 415 stores have been converted to Central’s Tops Daily banner leaving about 200 which will be converted by the end of this year.
FamilyMart opened its first store in Thailand in 1993 and formed a joint venture with Central Retail in 2012.
According to Nikkei Asia, Central Group announced the end of the relationship last week after the franchise deal between the two companies ended in May.
FamilyMart, meanwhile, told the Japanese news outlet it has no intention of changing its broader overseas business expansion plan under which it is expanding in multiple markets, including Malaysia.
Thailand’s convenience store market is dominated by Charoen Pokphand Group-owned convenience-store giant 7-Eleven which operated more than 13,000 locations as of last September, accounting for about 80 per cent of the convenience store market, according to Statista.
