Foodland plans to launch at housing projects of SC Asset

Editorial staff

Foodland Supermarket Co plans to launch its first convenience store at housing projects of SC Asset Group next year.

Atipol Teerahsongkran, vice-president of Foodland Supermarket Co, said the company has signed an agreement with SC Asset Three Co, the developer of Reference Sathorn-Wongwianyai and SC Asset Corporation Plc, the developer of COBE Ratchada-Rama 9 under SC Asset Group to open “Grocerant”, a new retail brand and format under Foodland Group, next year.

Grocerant is a convenience store concept with a space of 200 square meters, targeting new generation customers.

“It is a pilot project to explore opportunity via new retail concept for the first time after 51 years in operation in Thailand. It is our challenge to reach young generation customers, augmenting core customers at the age of 30-50 years old,” Mr Atipol said.

In addition to SC Asset, the company has interest in joining hands with medium to high housing developers to open more Grocerant store at its housing projects or condominium, which are the home of new young generation customers.

Beyond its new convenience store chain, the company plans to open two new Foodland supermarket stores this year. The first, its 24th Foodland supermarket, is opened today (July 18) at Park Silom project on Silom location, with 60 million baht in investment and the latter will be opened in August at the Icon 56 community mall project on Sai Mai Road, a promising residential community area on the space of 1,500 square metres, with 50 million baht in investment.

“It has opportunity to open new 20 supermarkets in Bangkok over the next decade due to urbanization of Bangkok,” he said.

Next year, the firm plans to open two supermarkets in Bangkok. Each requires an investment of 40 million baht and also spend another 40 million baht to renovate its two existing supermarket stores in Lat Phrao and Ramkhamhaeng

Mr Atipol said Foodland at Park Silom was developed under the concept of "Sophisticated Shopping Experience", catering to the new generation urban lifestyle, targeting modern customers, including working professionals, parents who come to pick up their children, and tourists. The company expects to earn sales of 20 million baht per month this year and will increase to 30 million baht next year.

Due to current customers and the new generation already understand and know their own needs when it comes to choosing products, therefore the company provides in-depth information on various product categories, with dedicated experts available to provide knowledge and assistance.

The company expects its revenue to grow by 5% this year to over 5.2 billion baht.