Retail/Tops

Editorial staff

Tops, the food business under Central Retail, has expanded its own brand portfolio, aiming at increasing revenue growth by more than 20% in 2025.

Stephane Coum, the company’s chief executive officer – Food Group, Central Retail, said that the company is expanding its business through a diverse portfolio, with one of its key strategies for 2025 being to increase the revenue contribution from its ‘own brand’ product group.

This approach is in response to the growth of Thailand’s fast-moving consumer goods (FMCG) market, which expanded by 5.2% in 2024, according to Nielsen Retail Index, FY2024. Snack category grew by 8.9%, health & beauty 7.7%, beverage 7.5%, seasoning, cereal and household products grew by 6.3%, 5.3% and 4% respectively.

Moreover, consumers shift to intentional consumption, focus on value and engage more on sustainability.

In addition, currently the own brand market in Thailand is valued at over 38 billion baht and recorded growth of 11.3% in 2024. However, the sale portion of own brand product in Thailand represents only 4% of the total FMCG, compares to other countries globally. The portion of own brand in Switzerland, UK, Spain, Australia, Hong Kong and Singapore is 52%, 46%, 43%, 24%, 14% and 6% respectively.

In addition, new-generation consumers, particularly Gen Y and Gen Z, are increasingly embracing own brand products.

To capitalize on this opportunity, the company has set a target to grow its ‘own brand’ portfolio by 20% this year through a variety of proactive strategies.

Thanawat Jirajariyavej, chief merchandising officer of Central Food Retail under Central Retail, said that 2025 marks a pivotal moment for Thailand’s FMCG market, which has shown signs of recovery. Tops plans to increase over 500 new SKUs of its own brand products and 10 new product groups including sanitary napkin and product items those are not strong enough such as coffee to its portfolio this year.

Tops has offered its own brand products to consumers for over 23 years. Currently, its portfolio comprises more than 80 brands includes My Choice, Tops, and SmarteR, spanning 110 product categories and over 5,000 SKUs across both food and non-food items, distributed domestically and internationally.

It also plans to export its own brand products to new five countries. Currently, more than 40 own brand products of Tops are available at leading modern trade retailers in five countries—Singapore (through the extensive network of FairPrice Group), China, Vietnam, Cambodia, and Switzerland. Those products are exported abroad including dried fruit, canned fruit, coconut roll, and bird’s nest drink. The company expects to grow sales of own brand abroad by 60-70% this year.

Most recently, Smile Melon achieved another major milestone by launching its first-ever international export. The melons are now available under the My Choice Japanese Melon brand at the extensive network of FairPrice Group, Singapore’s largest retailer.

Looking ahead, the company plans to expand its own brand products of Tops for further export, with a focus on high-potential markets across ASEAN, such as Malaysia, the Philippines, and Indonesia because of high GDP growth, big population size, no tariff barrier and similar eating culture.

Over 5,000 premium-quality own brand products of Tops today are available at all branches of Tops, Tops Food Hall, and Tops Daily nationwide. Shoppers can enjoy online shopping platform at Tops Online and also the Personal Shopper service is offered.

Mr Thanawat adds that regularly its own brands products grew by 10% per year but for 2025, it is expected to grow by 20% because of economic situation. Also, new generation customers would not dwell on branded products, while own brand products show innovation to increase its quality to be the same level of regular other FMCG.