CP to Open Supermarkets in Bangkok14 October 2011
THAILAND - Charoen Pokphand Group is to launch CP Food Market at two locations in Bangkok shortly, including the Group's own meat and seafood products in its offering.
After withdrawing from the supermarket business for more than a decade, Charoen Pokphand Group will resume the business with plans to launch CP Food Market in the capital this month, reports Bangkok Post.
The retail venture will not only draw on the strong market for necessary daily goods but will also be a distribution channel for the group's food products, says Supat Srithanathorn, senior vice-president of Charoen Pokphand Foods Plc (CPF), the group's SET-listed flagship.
CP earlier operated Sunny Supermarket on Srinakarin Road, which was sold a decade ago because of poor performance.
The first branch of CP Food Market, with 300 square metres of retail space, will open at CP Tower 3 on Phaya Thai Road by the middle of this month. The second branch of the same size is scheduled to open late this month at Fortune Tower on Ratchadapisek Road.
According to Mr Supat, CP Food Market will be supplied by the group's subsidiaries producing a wide range of foods, including meat, seafood, fruit and vegetables. Products from other suppliers will also be available, as well as a small dining space for customers.
CP now operates two formats – 7-Eleven and CP Fresh Mart – but Mr Supat says the fresh-mart concept provides only food products.
The group has recruited executives to look after CP Food Market, including Virat Techaniratsai, who has years of experience at Robinson Department Store and Tesco Lotus.
The company will evaluate consumer feedback and store performance over the next three months before making any adjustments.
Mr Supat added: "However, we believe our new supermarket will receive a warm response from customers, like our CP Fresh Mart stores."
Future expansion of CP Food Market will target crowded communities and walking streets in urban areas, according to Bangkok Post. The opening is part of an effort to lift CPF's overall sales to 210-220 billion baht (THB) by the end of the year, up from THB196 billion last year. Sales in the first six months of the year were THB98.97 billion, up eight per cent from the same period last year.