Tops goes for rebranding, makeover
Central Food Retail Co Ltd (CFR), Central Group's supermarket operation, plans to spend Bt800 million renovating and rebranding its supermarkets this year.
The company will rename its three supermarket brands from Tops Supermarket, Market Place, and City Market to Tops Super, Tops Market and Central Food Hall respectively, said Ian Pye, president. Tops Super will target middle-class customers, Tops Market high-end customers and Central Food Hall the creme de la creme. The makeover of its stores will be completed in 2009. The company also will launch a new convenience store, Tops Daily, which will have between 300sqm and 500sqm of retail space and will target the middle-class. Unlike Tesco Express and Seven-11 Tops Daily will sell fresh food. Pye said that the company planned to open five Tops Daily branches this year and a further 15 in 2007. The first Tops Daily branch will be located in Angthong province. The company also plans to open 10 other stores under the Tops Market, Tops Super and Central Food Hall brands during the course of this year. The company has 88 stores, including 75 Tops Supermarkets, one City Market at Central Chidlom and 12 Market Places. The company also will open a second Central Food Hall in Central World Plaza this August at a cost of Bt350 million. After it completes the makeover of its stores, the company expects its sales to double to Bt30 billion in 2010 from an estimated Bt15 billion last year. The company reported a profit before interest and tax of Bt500 million last year, its first year in the black since 2000, Pye said. Somluck Srimalee The Nation
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