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Asia: CP Fresh Mart lays out expansion plans

Convenience store chain CP Fresh Mart, owned by Thai agri-business conglomerate CP Foods, has said it will look to open around 1,500 new outlets across southeast Asia over the next three years. The chain said most of the growth will come in its home market of Thailand, but noted that it will also focus on Vietnam, Malaysia, and Myanmar.

CP Foods plans to invest 1.65bn baht (€40m) to open 1,400 new Fresh Mart stores in its home market, and will also look to open 70 stores in Vietnam, seven in Malaysia, and a few trial stores in Myanmar. The group also said it will spend 250m baht (€6m) more to buy 15,000 small cold storages, which it uses to distribute fresh and frozen food to small and medium-sized enterprise (SME) buyers across Thailand.

Sales of food have been growing at Fresh Mart, and are expected to jump up 15% this year to 5.6bn baht.

Source: www.kamcity.com
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