Home improvement retailer MR. D.I.Y. (Thailand) aims to open 200 stores in 2025
Retailer sets aside 2 billion baht for plan
The company opened 122 new stores in 2021, 161 branches in 2022 and 188 last year.
Home improvement retailer MR. D.I.Y. (Thailand) plans to open 200 more stores in 2025 with an investment budget of 2 billion baht.
Aggressive expansion the past few years reflects the company’s confidence in the Thai home improvement market, said Andy Chin, chief executive of MR. D.I.Y. Holding (Thailand) Plc.
The company opened 122 new stores in 2021, 161 branches in 2022 and 188 last year, he said.
Mr Chin said the Thai market has significant potential compared with Malaysia, where the average population per MR. D.I.Y. store is about 25,000.
In Thailand, the ratio is much higher at around 70,000 people per store, indicating substantial room for expansion in the future.
Yesterday the company launched a new flagship store — its 900th branch — in Seacon Square, Bangkok.
MR. D.I.Y. now operates 900 stores in 74 provinces nationwide, excluding Mae Hong Son, Phangnga and Yala. Of the total, 613 stores are stand-alone shops, while 287 are situated in retail malls.
The company plans to add about 20 more stores by the end of 2024, bringing the total to more than 920 stores nationwide.
Earlier this year, MR. D.I.Y. announced its plan to invest 2 billion baht for store expansion in 2024.
Mr Chin said the company plans to invest more than 2 billion baht next year, aiming to open an additional 200 stores.
“We expect our store branches to reach the 1,000 milestone in the first half of 2025,” he said.
The company also plans to launch new stores in three more provinces in the first quarter of 2025, ensuring a presence in every province across Thailand.
MR. D.I.Y. sees promising prospects for the retail industry next year thanks to recovering domestic consumption and the rebound of the tourism sector, said Mr Chin.
Despite the challenges of high household debt and weakened spending power, the company believes its business model remains resilient.
In a sluggish economy, he said customers may opt for lower-priced or alternative products, aligning with the company’s strategy of offering value-focused goods.
Source: https://www.bangkokpost.com/business/general/2918831/mr-d-i-y-aims-to-open-200-stores-in-2025
