SPAR International has formally launched in Thailand in partnership with Bangchak Retail Company Limited (BCR).
Store expansion plan
The €74m (US$78m) investment will see up to 300 new stores across the country in the next five years. During 2016, BCR plans to open 7 new stores, comprising key flagship convenience and neighbourhood developments. From 2017, the retailer plans to open 50-80 stores each year for the next five years. BCR anticipates retail sales of €245m (US$260m) by 2020, riding on strong market growth in the neighbourhood grocery sector in Thailand.
Leveraging SPAR's industry expertise
SPAR brings the new partner best practice across its supply chain, retail operations, staff training, retail design and brand development strategy. SPAR worked with BCR to generate detailed store designs and layouts to capture food purchasing moments in forecourt stores, also supported the formation of the requisite supply chain capability, introduced the SPAR culture to the teams and assisted with secondments to other SPAR partners for key team members to expand their knowledge of the SPAR brand.
SPAR has also worked with BCR on the development and launch of a national range of own brand products. During the development of the flagship stores in 2016, special focus will be given to the ability to source locally.
Tobias Wasmuht, Managing Director of SPAR International said “In the last decade, SPAR International has grown from strength to strength in key strategic markets of Asia. Today, we have a significant multi-format presence including hypermarkets, supermarkets, convenience and online in China, India, and Indonesia. The launch of SPAR in Thailand in partnership with BCR represents a significant and important step forward in SPAR’s ongoing expansion into Asian markets. It brings together our internationally tried and tested retail expertise particularly in convenience and supermarket formats with the extensive knowledge of the Thai market. The partnership is a true example of the SPAR ethos in which through working together all shall benefit.”