Restaurant/ MK suki

Editorial staff

SET-listed MK Restaurant Group Plc expects the total number of restaurants in the group to reach 1,000 over the next few years, driven by the launch of new food brands in the market and abroad expansion this year.

Rit Thirakomen, the founder of "MK Suki" in Thailand, said that the company plans to add 3 new food brands under its portfolio this year.

Rit Thirakomen

The first is a food brand from Japan that will be launched in the Thai market in October this year and its opening will help make an image of MK food more youthful than before, thanks to its restaurant’s decoration, containers, and re-shaped menus in a modern look.

“By doing so, the proportion of young customers at MK Group will increase to one-third of our food portfolio, from the current 20%,” Mr Rit said.

The other three food brands to be launched this year will be under franchise system or mergers and acquisitions plan.

This move will help strengthen MK as a multi-brand company and partly boost the number of food restaurants under MK Group to reach 1,000 over the next few years before Mr Rit retirement.

MK Group operated 695 restaurants in total in 2023. Of which the total, 450 branches belong to MK restaurant, Yayoi 200 and Laem Charoen 45 branches.

Though the restaurant business in the first quarter was not as good as expected due to household debt, MK sets to expand 15-20 new branches in Thailand this year, along with 10 new Laem Charoen branches in Thailand, and 15 new openings of Yayoi. All requires an investment of around 350-400 million baht this year.

Abroad, the group has already opened 3 Laem Charoen restaurants in Malaysia and will add 5 openings next year. It is expected that the number of Laem Charoen restaurants will reach 50 over the next 3 years.

Mr Rit said that there are more opportunities to open Thai-style seafood restaurants in Malaysia and other countries because Laem Charoen seafood restaurant concept is unique and is not available in countries.

Beyond Malaysia, markets such as the Middle East, Japan, America, China, Japan and Korea are also under its business plan.

In addition to new branch expansion, the company has also invested another 60-100 million baht to build a frozen sea bass factory in Bangkok. After its factory will be operational next year, the production capacity will increase from 1,000-1,500 pieces per day to 15,000 pieces per day, supporting its future expansion of the B2B business both domestically and internationally, and its new restaurant.

Also, MK Restaurant Group has expanded its portfolio to other food by selling via its own restaurants and modern retail stores, including 7-Eleven convenience stores.

MK's revenue was 16-17 billion baht in 2023 and targets to grow 10% this year.