CP All Pcl (CPALL), (Charoen Pokphand Group or เครือเจริญโภคภัณฑ์) the world’s third- biggest operator of 7-Eleven convenience    stores, said it plans to expand its network in Thailand to 10,000 outlets by 2018 to maintain annual profit growth at 15 percent.

The company, controlled by 73-year-old Thai billionaire Dhanin Chearavanont, plans to add 3,300 stores to its existing 6,700 in the next six years, Piyawat said. About 500 outlets will open each year, more than half outside Bangkok. Stores in provincial cities and rural areas will account for 60 percent of the company’s total, from about 50 percent, he said.

The CP company plans to add 3,300 stores to its existing 6,700 in the next six year

Charoen Pokphand Group and biggest competitor Tesco Plc (TSCO) are adding outlets in the nation of 67 million people after the government raised minimum wages and introduced price guarantees for rice and rubber to boost rural incomes. Piyawat said he also wants to expand outside of Southeast Asia’s second-biggest economy, and may open 7-Eleven stores in southern China and Vietnam to help meet the Bangkok-based company’s long-term profit target.

via CP All Plans 10,000 7-Elevens to Sustain Growth: Southeast Asia – Bloomberg.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Low English Proficiency in Thailand Could Hinder the Country’s Development Prospects

Thailand is ranked 97th overall and second to last among its ASEAN neighbors in an assessment that looks at the average English proficiency in 111 different countries and regions.

Thailand’s Board of Investment approves new Categories for Promotion Strategy

Following the relaxation, feasibility studies will only be required for projects with an investment value of 2.0 billion baht or more (excluding the cost of land and working capital), compared to 750 million baht previously.

Thailand fails to attract foreign talents

Unlike Singapore (2nd), Thailand (75th) is not an attractive country for skilled professionals who want to move abroad, according to INSEAD’s annual survey, or Global Talent Competitiveness Index (GTCI).