Spar International and Bangchak Retail Company announced a significant new partnership agreement which will see up to 300 new Spar stores opening in Thailand by the end of 2020, as part of a €102 million investment.
Spar International is the world’s largest food retail voluntary chain with over 12,100 stores worldwide and global retail sales of €33bn in 2015. Spar presence in Asia continues to grow with the brand attracting independent partners.
BCR plan to open 7 new stores during 2016, comprising key flagship convenience and neighbourhood developments. From 2017 the company plans to open 50-80 stores each year for the next five years with up to 2,500 jobs created in the process.
BCR’s retail strategy meets customer needs, with strong market growth in the neighbourhood grocery sector in Thailand; the company anticipates retail sales of €260m by 2020.
The partnership with BCR will see Spar share industry expertise with its new partner including the sharing of best practice across its supply chain, retail operations, staff training, retail design and brand development strategy.
Tobias Wasmuht, managing director of Spar International said “In the last decade, Spar International has grown from strength to strength in key strategic markets of Asia. Today, we have a significant multi-format presence including hypermarkets, supermarkets, convenience and online in China, India, and Indonesia.”
“The launch of Spar in Thailand in partnership with BCR represents a significant and important step forward in Spar ’s ongoing expansion into Asian markets.” he adds.
(Source: Retail Times)