The Mall to invest in its Gourmet Market branches
What: The group plans to allocate THB 1 billion (USD 27 million)
Why is it important: By answering lifestyle changes, the retailer intends to stay competitive.
Two Gourmet Market branches have already been renovated last year: The Mall Ngamwongwan and Siam Paragon. The facelift for 15 remaining stores is expected to be completed by 2024. A part of the investment will also be allocated to new stores.
Under the new concept, Gourmet Market will be transformed into an outdoor style market distinct from competitors and will offer 50 000 references.
The company expects sales for this year to grow by 10% after a slight drop last year because of the pandemic. Sales at Gourmet Market make up one-third of revenue for The Mall Group, accounting for around THB 50 billion (USD 1.364 billion) in 2020.