There is a food fight in Thailand and a number of the country’s largest grocery stores want and even bigger slice of the pie. Foodland revealed that it had plans for a significant expansion during the next five years. Retail News Asia reported that the chain has doubled its yearly investment budget to THB500 million and will use it to open four or five new grocery stores as well as add three new eateries to the firm’s roster.
A few of the new outlets have already opened this year. The Foodland at The Street community mall on Bangkok’s Ratchadaphisek Road welcomed customers for the first time earlier this year, while another store opened at Rama 3’s The INT Intersect community recently. A third branch will open at the Terminal 21 in Nakhon Ratchasima, the website noted.
While there are plans for additional stores, no locations have been announced. In addition to the supermarket, Foodland’s new restaurants also contain a Japanese ramen chain, a Hong Kong-style roasted-goose dining spot and a Singapore-style street food restaurant.
“As I am getting older, I want to speed our expansion as much as possible. Starting from next year, we plan to open four or five new Foodland stores for five consecutive years,” chief executive officer Somsak Teerapattanakul explained to the website.
Earlier this year, Tesco Lotus announced that it plans to open at least 65 stores in 2016. The company also planned on continuing its focus on improving online outlets including its delivery service while enhancing the customer shopping experience for those who make frequent in-store visits.
Big C opened its 100th store in Thailand in May and the company’s new owners, the Berli Jucker Group (BJG), announced they are looking at a major expansion in the country focusing on opening stores in regions where Big C has yet to establish a large presence.
