CJ Express Group is boosting its footprint to 1,500 stores, up from 530 stores it is currently operating.
Three-year expansion before listing
Founded in 2005 by Mr Sathien, CJ Express operates mainly convenience stores and some supermarkets in the central and the western provinces. The retailer plans to have 580 stores by the end of the year. "The retail business is not as easy as expected. We take time to learn and our business has just seen 20% average growth a year over the past three years," said Mr Sathien. He is also a co-founder and chairman and CEO of Carabao Group, a manufacturer of Carabao energy drink, and chairman of Tawandang DCM, the group’s logistics arm. In 2019, the company reported combined sales of THB13.8bn (US$456m) with a net profit of THB357m (US$11.8m). From 2021, the company wants to open at least 200 new CJ supermarket and 50 CJ MORE mall concepts each year. Once the three-year expansion plan is fulfilled, CJ Express will list on the Stock Exchange of Thailand to raise funds for future expansion.
CJ MORE to raise awareness of CJ supermarkets
CJ MORE was introduced in July this year. There are three CJ MORE supermarkets in Nonthaburi province, Charansanitwong 13 and Silom Soi 7 in Bangkok. The company plans to open another seven CJ MORE this year. Its 1,200 sq.m. flagship mall opened on on 11th November at 393 Silom Building. The mall has a CJ Supermarket which provides consumer products along with multi-brand cosmetics and health supplements, Bao Cafe which sells fresh Thai-style coffee and UNO, a lifestyle zone for trendy young professionals offering fashion and lifestyle merchandise and a food hall. "We are ready to move further and compete in Bangkok's retail battlefield with the launch of CJ MORE, a new compact community mall model to build our retail brand awareness,'' Mr Sathien said. The company is also investing THB2bn (US$66.3m) on a new warehouse to support its expansion plan.
|Source: CJ Express