Tesco Expands Retail Space In Thailand Through Its 2000th Store
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Ek-chai Distribution System co. that operates Tesco Lotus hypermarkets has announced that it is expanding retail space by 55,000 square meters this fiscal year in order to take advantage of improved opportunities in the retail business sector in the coming years.
In the past years, Tesco Lotus has expanded its total retail space by 30,000 to 50,000 square meters annually which suggests that plans for expansion are in the cards. This year 45 new Tesco stores opened with 6 hypermarkets, 1 department store, one Talad and 37 Tesco Express locations. About 27,500 square meters remain to be filled in the remaining 4 months of 2018. According to chief executive Sompong Rungnirattisai, their main focus is to move forward with the second tier cities.
Thailand is the largest international market of Tesco outside the United Kingdom. Mr. Sompong said that their company is committed to continue with their investments in Thailand. Thailand is one of the countries that are perfect for investments because the per capita income keeps rising along with enhanced urbanization. Both are positive factors for a retail business.
Aside from the positive retail environment, there is also improved consumer confidence. Last Thursday, the 2000th store was opened in Thailand. The Tesco Lotus hypermarket in Bang Kruai-Sai Noi area in Nonthaburi, northwest of Bangkok marks an important milestone for the company because it the largest hypermarket that opened in the last 4 years. This will create about 1,000 jobs for the local community.
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