Wholesaler Siam Makro has announced plans to open new stores in Thailand, as
well as invest in overseas expansion in 2016.
New stores in Thailand, Cambodia, Laos and Vietnam
Siam Makro, owned by Thai conglomerate CP ALL, will invest
9 billion baht (US$258 million) in opening 20
stores in Thailand this year, as well as expanding in South East Asia.
Approximately a third of the money will be spent on its Thai operations, with
the remaining third on opening operations in markets such as, Cambodia, Laos and
Vietnam. Siam Makro's main customers are independent convenience stores, hotels
and restaurants, and with traditional trade remaining a significant proportion
of the market in these countries, the chain is poised to capitalise.
CP ALL to sell part of its stake in the wholesale chain
As well as announcing its expansion, CP ALL has announced plans to sell part
of its 97% share in the business in order to repay debt and fuel further
expansion of its operations. Longer term targets
for Siam Makro's expansion include, India and Myanmar, once the political
situation has become more clear. CP All will aim to keep at least a 50%
controlling stake in the retailer, which its
expects to grow revenue by 10% in the year ahead.