The ambitious plan of Thaiwatsadu, a leading retailer of construction materials and home furnishing products under the Central Retail Group (CRC), is to add 10 branches to its nationwide network in 2023. In the first quarter, new branches will be opened in Rangsit, Nakhon Ratchasima, Kamphaeng Phet, and Phuket. The company aims to have 80
The ambitious plan of Thaiwatsadu, a leading retailer of construction materials and home furnishing products under the Central Retail Group (CRC), is to add 10 branches to its nationwide network in 2023.
In the first quarter, new branches will be opened in Rangsit, Nakhon Ratchasima, Kamphaeng Phet, and Phuket.
The company aims to have 80 branches across Thailand, in line with CRC’s goal of generating more than 15% revenue growth in response to the recovery of the real estate sector as a result of the growing demand for residential construction, which is expected to send positive signals to businesses.
Mr. Suthisarn Chirathivat, Chief Executive Officer of CRC Thaiwatsadu Co., Ltd. under Central Retail, which is a hardline business arm of Central Retail Corporation Public Company Limited (CRC), said: “It is Thaiwatsadu’s retail business goal to provide complete offerings of quality products in construction materials and home furnishings, while providing an effective mechanism to drive CRC’s strategy that is destined to enable growth for all its businesses towards The Next Sustainable Growth, leading the retail business to grow rapidly, steadily, and sustainably.”
According to HSBC Research, Thaiwatsadu’s market share in the Home & Garden Specialist Retail segment has grown from 4.3% in 2012 to 9.8% in 2021. In 2023, the company expects its sales to grow by 15%.
To achieve its goal, Thaiwatsadu continues to expand its business this year. The company plans to open 10 new branches in areas with a growing demand for real estate and construction, focusing on high-potential locations. The addition of new branches is part of CRC’s expanding hardline business ecosystem including Thaiwatsadu, BnB home, and Power Buy.
The Krungthai COMPASS Research Center projects that the Thai economy will grow by more than 4% as a result of economic growth and the positive impact of tourism after the country fully reopened.
With the goal of expanding its customer base and penetrating large tourist and industrial cities, Thaiwatsadu will open new branches in both standard (also known as red format) and hybrid formats this year. These branches will serve as a one-stop destination for construction and home furnishing products.
Scheduled for February 2023, two new branches of Thaiwatsadu will be opened:
Thaiwatsadu x BnB home, Rangsit Klong 4 Branch
A hybrid format of Thaiwatsadu, which coexist with BnB home, is here to meet the needs of consumers who want to buy both construction materials and home furnishings – all in one place. The Rangsit Klong 4 Branch is located in the heart of Rangsit, covers a retail space of more than 20,000 square meters, and has a complete range of more than 30,000 items. It is destined to respond to the expansion of real estate demand in Bangkok’s northern districts. A range of featured services at the branch include home service, design, installation, and repair by vFIX, a team of professional and qualified technicians offering high-quality services.
Thaiwatsadu Nakhon Ratchasima, Hua Thale Branch
This is the 67th branch in the country and the third in Nakhon Ratchasima province, with a red-format type. It sits on a space of more than 17,000 square meters to serve the housing market in the province that has the most real estate investments in the Northeast. As the gateway to Thailand’s Isaan region, this province is experiencing an increase in real estate development and construction projects due to the recovery of the economy.
In addition, Thaiwatsadu has recently launched two new branches in March, namely Thaiwatsadu, Kamphaeng Phet Branch, and Thaiwatsadu x BnB home, Phuket Branch in the province’s Chalong District. This means that Thaiwatsadu has already established four new branches in the first quarter of this year, covering all regions of Thailand, including the North, Northeast, Central, and South. It intends to have 80 outlets covering all important locations across the country by 2023.
“This rapid growth of the Thaiwatsadu business illustrates the potential of the construction industry and home furnishing products, both of which are still in high demand among customers. The company has regularly adjusted its operations and offerings to fit customer lifestyles to fulfill their needs in a multidimensional array. We are dedicated to building business alliances so that everyone flourishes together. This is seen as strengthening the business and enabling it to deliver a complete range of quality products to customers,” said Mr. Suthisarn.
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