The Mall Group, which operates Gourmet Market in Thailand, is spending more than THB1bn (US$32.9m) to expand its business in Bangkok and the suburban areas.
Stand-alone premium supermarkets focus
The retailer will invest THB350-500m (US$11.5m - US$16.5m) annually to build new Gourmet Markets outside the Mall complexes. Another THB200m (US$6.6m) will be spent on upgrading two Home Fresh Mart stores to Gourmet Markets. The two upgraded stores at The Mall's Ramkhamhaeng and Tha Phra will be ready in 2021.
"We will no longer open our supermarkets under the Home Fresh Mart brand, but we will put a focus on Gourmet Market, a premium supermarket brand," Chairat Petchdakul, the company's vice-president for supermarket merchandising, said, "The competition in general supermarkets is very fierce. We not only compete with direct competitors in the supermarket business but also with food retailers from hypermarkets, convenience store chains and food via e-commerce business."
Three Gourmet Markets opened in 2019
The company spent THB140m (US$4.6m) to open three stand-alone supermarkets. The first store opened at I’m Chinatown community mall near Wat Mangkon MRT station on 27 November. The second 2,700 sq m store will open at Design Village of Boonthavorn Group on 10 December. The third 1,600 sq m store will open at People Park community mall in the On Nut area on 19 December.
About Gourmet Market
There are 17 supermarket branches under The Mall Group: 12 are under the Gourmet Market banner, two are Gourmet Thai stores (souvenir and grocery shops at Don Muang and I'm Chinatown), two are Home Fresh Mart supermarkets and one is a Gourmet To Go (at Phetchaburi MRT station). Sales of the supermarket business recorded THB11.8m (US$388,299) in 2018.
Retail Analysis Asia