An agreement has just been signed that will lead to more than 300 Spar Thailand food retail stores opening over the next four years.
It is part of a €102 million (US$108 million) investment by Netherlands-based Spar International, which has partnered with Bangchak Retail Company (BCR).
Spar International has more than 12,100 stores worldwide and had global retail sales of €33 billion last year. It works in partnership with independent retailers to share global scale and expertise.
BCR plans to open seven stores this year, comprising key flagship convenience stores and neighbourhood developments. From next year the company plans to open 50 to 80 stores annually, creating up to 2500 jobs.
Under the partnership, Spar is sharing industry expertise including best practice across supply chain, staff training, retail design and brand development strategy.
“The launch of Spar in Thailand in partnership with BCR represents a significant and important step forward in our ongoing expansion into Asian markets,” says Spar International MD Tobias Wasmuht. “Today, we have a significant multi-format presence including hypermarkets, supermarkets, convenience and online in China, India and Indonesia.”
BCR MD Viboon Wongsakul says Spar and BCR share many key values “such as a dedication to growth, a commitment to local suppliers, supporting communities and offering diverse retail solutions”.
As a shared core value, BCR and Spar focus on supporting the communities in which they have a presence. During the development of the flagship stores, special focus is being given to the ability to source produce and product locally.
Spar International has been working with BCR on the development and launch of a national range of own-brand products.
Formed this year, BCR is affiliated with energy company The Bangchak Petroleum Public Company. As well as the Spar portfolio, BCR will expand its Inthanin Coffee and Lemon Kitchen brands.