Thanapiriya Plc plans 120 million baht expansion
Thanapiriya Plc, a leading retail store operator with branches in Chiang Rai, Chiang Mai, and Phayao, has announced a 120 million baht investment plan to expand its presence with new outlets in the following year. Amorn Phutthiphiriya, the firm’s chief operating officer, indicated that the expansion strategy would involve establishing six fresh branches in Chiang Rai.
Despite the existence of over 30 retail stores in the province, Thanapiriya recognises a promising opportunity for further expansion in Chiang Rai.
Amorn said…
“Urbanisation and the government’s infrastructural investments, like the double-track rail to Chiang Rai, signal potential for more than ten new Thanapiriya stores in the future.”
Beyond expansion, the company also aims to renovate and upgrade its current stores to offer improved convenience to its patrons. Thanapiriya is also working to identify higher-margin products for its retail network.
Amorn also expressed optimism about potential economic stimulus packages from the government next year, which she believes will boost consumer spending. In anticipation of this uptick in sales, Thanapiriya has recently agreed to distribute personal care products. These supporting factors are expected to contribute to a 10-15% sales growth next year, asserted Amorn.
Retail expansion
Currently, Thanapiriya operates 44 branches across the three northern provinces – 34 in Chiang Rai, six in Phayao, and four in Chiang Mai – alongside a 900 square metre wholesale store in Chiang Rai. Two additional stores are slated to open this month, including a flagship outlet near Chiang Rai airport and one in Wiang Pa Pao in Chiang Rai, taking the total count to 46 by the end of the year.
In addition to retail expansion, the company also plans to invest 30 million baht to construct a new warehouse on a two-rai land parcel next year, to support its anticipated growth. Thanapiriya expects a 10% sales growth this year, amounting to 2.4 billion baht, reported Bangkok Posts.
The Mall Group Co, a leading retail operator in Thailand, is set to resume the expansion of its Gourmet Market branches this year, as consumer spending shows signs of recovery in the wake of the pandemic. The company has invested 100 million baht in opening a stand-alone Gourmet Market branch at Design Village Bangna on May, after a three-year pause due to the pandemic’s impact. To read more click HERE.
