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Thailand-based Siam Makro PCL on Thursday said it will launch its wholesale cash-and-carry business in India under the brand “Lots Wholesale Solutions”.
The company plans to invest Rs 1,000 crore in the next five years in setting up its wholesale distribution centres and supply chain in North India.
Tanit Chearavanont, Managing Director, Lots Wholesale Solutions, said, "India and the US are the two priority markets for future growth. We hope to leverage on our experience in operating cash and carry business in Thailand and other markets to establish our presence in India.”
He said the company will open 15 wholesale distribution centres in the country in the next three years in the northern region and expects to create 5,000 direct and indirect jobs. The first two stores are expected to open in Delhi-NCR region in the next six months.
The company also expects to leverage on its experience in operating cash and carry stores with flexible selling areas and multiple formats for quicker expansion in the country.
Besides Thailand, the company runs cash & carry business in markets such as China, Cambodia and Myanmar.
Siam Makro PCL is part of Charoen Pokphand Group (CP Group). Headquartered in Bangkok, CP Group has presence in food, retail and distribution, telecom, auto and pharmaceuticals sectors.
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