Thai convenience-store chain Tookdee has announced it will roll out 49,000 new outlets during the next two years.
The retail model for these new stores has been described as a “community store by the community, for the community”. The company currently operates just 1,000 stores but says it will open 22,000 more Tookdee outlets next year through a franchise model.
According to Bangkok Post, the operator of Tookdee, TD Tawandang Co, will invest about US$2bn on this expansion, US$1.3bn of which will be used for 15 new warehouses across the county, while the remainder is for technology development and sales promotions.
Chairman Sathien Setthasit told the Bangkok Post Tookdee is growing against the tide of an economy that has been devastated by the Covid-19 pandemic “thanks to a business model that fits the shopping behaviour of people who buy items near their home”.
According to Setthasit, Tookdee’s model caters to the references of the local demographic. He said that the brand plans to set a new standard for convenience stores in local communities as they are a vital base of the country’s grassroots economy.
Launched in 2019, Tookdee already operates eight warehouses across the country.
