Thai convenience store chain 7-Eleven has announced a plan to invest TBt1.35bn (US$31.9m) into opening 320 new outlets and strengthening its food business.
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“This year, the local retail business industry is expected to grow as Thai shoppers spend more, buoyed by sentiment of higher economic growth,” Piyawat Titasattavorakul, managing director of CP 7-Eleven, was quoted by the Nation as saying.
Bt192m is to be invested in setting up a combined distribution centre in Bangkok as well as improving its existing distribution centres in Bangkok and in the provinces.
Bt155m is to be spent on new software to manage the business, while Bt80m is to be used to buy 2,000 freezers.
Piyawat said he expects the company’s sales to increase 17% this year to Bt34bn, reported the Nation.
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