Siam Makro Plc to Invest Over US$800 Million in Retail and Wholesale Business Expansion

• 16 April 2023
• International News
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Siam Makro Plc, the operator of Makro cash & carry stores and Lotus hypermarkets, has announced plans to invest 25.3-27.5 billion baht (over US$800 million) this year to expand its retail and wholesale businesses.

According to Saowaluck Thithapant, Group Chief Executive of Siam Makro, ” This move is in anticipation of a positive impact on the wholesale and retail businesses, as well as hotels, restaurants, and the catering industry following Thailand’s full reopening and the projected recovery of the economy and tourism industry. The company’s customer base is expected to grow, and this investment will help us to better serve their needs.”

Of the total planned investment, 13.1-14.1 billion baht will be allocated to Makro’s wholesale business, while 12.2-13.4 billion baht will be for Lotus’s retail business. The investment will cover various aspects of the businesses, including branch expansion, developing distribution centers, digital systems, and new businesses.

In 2023, Makro Wholesale plans to open 12 new branches in Thailand and 4-6 branches in other countries where it already has a business presence. Meanwhile, Lotus’s retail business will open 3-4 hypermarkets and 10-14 supermarkets in Thailand and Malaysia, as well as 100-150 Lotus Go Fresh branches.

This expansion of Makro and Lotus’s businesses is a clear indication of the company’s commitment to growing and providing excellent services to its customers. Siam Makro Plc’s investment in its retail and wholesale businesses is a positive move that will contribute to the growth and development of the retail industry in Thailand and Malaysia.

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• Economy and Finance