CRC Thaiwatsadu Co, a home improvement and material construction unit under Central Retail Corporation (CRC), is poised to spend 600 million baht to expand its home improvement and decoration business in the third quarter.
Of the total budget, 300 million baht is allocated to each of two new branches, including one in the eastern region to cash in on the Eastern Economic Corridor (EEC).
Another store in the North aims to tap into growing demand for construction materials.
A new hybrid format of Thaiwatsadu x BnB home was opened in Bang Saen, Chon Buri in August while Thaiwatsadu's Nan branch is scheduled to open today.
Suthisarn Chirathivat, the company's chief executive, said the Thaiwatsadu x BnB home at Bang Saen aims to tap into the EEC and flourishing industrial sector in the EEC provinces as well as the real estate boom in Chon Buri and nearby areas.
Thaiwatsadu x BnB home at Bang Saen is the sixth Thaiwatsadu store in Chon Buri province after Muang Chon Buri, Sri Racha, Pattaya, Amata and Bo Win.
Thaiwatsadu x BnB home at Bang Saen covers an area of 20,000 square metres and is located on Sukhumvit Road connecting Muang district and Sri Racha district, surrounded by more than 120,000 households in a 10-kilometre radius.
"What makes this store special is its hybrid format, bringing together Thaiwatsadu and BnB home in order to offer a wider range of home improvement and home declaration products for contractors and homeowners," Mr Suthisarn said.
The company's 63rd branch in Nan, covering an area of 17,000 sq m, aims to tap into the economy's growth, tourism, construction and real estate, particularly hotels, resorts and tourist destinations in Nan and adjacent provinces.
The Nan branch also aims to serve the strong purchasing power of consumers in the upper northern region, supplementing existing Thaiwatsadu locations in Chiang Rai, Chiang Mai, Lampang and three other locations in the northern economic zone, which are Phetchabun, Tak and Phitsanulok.
Located on a 30-rai plot of land, Thaiwatsadu's Nan branch provides more than 40,000 construction materials and home decor items, including appliances, hardware products, tools, tiles, bathroom ware, kitchen furniture and tools.
Mr Suthisarn said the Nan branch aligns with CRC Retailligence's five-year strategy which target growth of 18% during 2022-2026 and is seeking new opportunities for investment to drive regional economies.
Investment figures in other quarters were not available, but the company unveiled earlier in April it plans to allocate 7 billion baht per year to expand its business both in domestic and overseas markets between 2022 and 2026.
The company allocated only 2 billion baht in investment last year.
CRC Thaiwatsadu plans to open 88 new stores in all formats and brands, bringing the total number of stores under Thaiwatsadu to 183 in 2022. Of the total, 125 stores are upcountry and the remaining 58 are in Bangkok.
In 2021, the company opened five Thaiwatsadu outlets.
Sales of Thaiwatsadu exceed 30 billion baht a year.
In addition to the domestic market, the firm is also conducting a feasibility study on branching out into other Asean countries.
