They face stiff competition from CP All, which runs more than 14,000 7-Eleven outlets. Read more at straitstimes.com.
BANGKOK – Some of Thailand’s wealthiest tycoons are looking to muscle in on the convenience store sector, betting that a shift in consumer preferences for buying less but shopping more often will fuel demand for years to come.
Others looking to stake their claim read like a who’s who of Thailand’s business elite. They include mass transit baron Keeree Kanjanapas and the Chirathivat family, which earned its fortune through department stores and shopping malls across the globe. At its core, though, is the rising popularity of convenience stores that dot virtually every street corner in Bangkok and other major cities, providing one-stop shops for everything from ready meals and daily essentials to paying electricity bills.
Some efforts to get a piece of the pie are hitting snags. Despite Mr Charoen’s early success in his ambitious mom-and-pop expansion programme – he has already added about 1,400 stores in the three months ended June 30 for about 2,600 outlets in total – a planned initial public offering of Big C Retail that was expected to raise US$1 billion was postponed in August. The firm said the share sale will be revived when the investment environment improves.
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