Bangkok-based convenience store operator CP ALL Public Co. Ltd. is looking to expand its wholesale operations in China and India, Bloomberg reported July 5, citing an interview with CP All CFO Kriengchai Boonpoapichart.
Boonpoapichart told the news outlet that the company's cash-and-carry unit Siam Makro PCL is exploring opportunities in China, India and Myanmar after opening an outlet in Cambodia.
In January, Siam Makro was reported to be planning on launching an outlet in India under the Lots Wholesale Solutions brand and to invest about 10 billion Indian rupees to set up its wholesale distribution and supply chain in the country over the next five years.
CP All, which runs convenience stores under Seven & i Holdings Co. Ltd.'s 7-Eleven brand in Thailand, intends to spend about 9 billion baht annually to open around 700 new stores, Bloomberg said. The company has the second largest 7-Eleven store network in the world, according to the website of 7-Eleven Inc., which operates Seven & i's convenience stores overseas.
Boonpoapichart also told the newswire that they are working on promoting digital platforms, such as mobile phone applications, to meet changing customer behavior.
As of July 5, US$1 was equivalent to 68.86 Indian rupees and 33.19 Thai baht.