Aeon, which operates the MaxValu supermarket chain in Thailand, plans to invest Bt300m (US$10m) to open more of its small and regular format supermarkets in the country next year.
According to a report in the Bangkok Post, Aeon plans to open 20 MaxValu Tanjai mini-supermarkets next year, each of which would require investment of around Bt8-10m. The new stores would bring the total number of the small format stores in the country to 40. Within three years the company hopes to establish 100 of the stores, which generally cover 300m2.
In addition to these stores the company has also stated it intends to develop another two to three regular format supermarkets.
Aeon Thailand deputy managing director Yohsei Honda told the newspaper the first MaxValu Tanjai store was established last year and provided a cost effective way for the company to establish its brand in Thailand.
“The speed of MaxValu Tanjai expansion will not only help us build brand awareness among customers but also generate quick cash flow for us, so we have more capital to continue our investments,” he said.
The company also stated it would create larger format supermarkets in areas where ithas established five small format stores to create logistical efficiencies.
