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Published on January 31, 2008

Welcoming the fact that an elected government is about to take office and expecting the economy to improve, Central Pattana (CPN) - the property development arm of the Central Group - announced it would invest more than Bt100 million in "The Great Chinese New Year Sale by CentralWorld & CentralPlaza" in order to stimulate consumer spending during the upcoming festival.

CPN executive vice president for marketing Nattakit Tangpoonsinthana said the company expected consumer spending and the economy in general to definitely improve this year, once the new government is installed.

"What the new government has to be concerned about as its priority is to move on mega-investment projects, as well as raise the confidence of consumers and business investors," said Nattakit.

He said many upcoming holidays, including Valentine's Day, would also stimulate spending.

"We expect the Chinese New Year Sale to bring about 15 per cent more customers into the shopping centres and to increase sales by 15 per cent in the first quarter. The amount spent per person should increase by 20 per cent at CentralWorld and at CentralPlaza," said Nattakit.

CRG is the local franchisee for many international and local restaurant brands, including KFC, Mister Donut, Pizza Hut, Baskin Robbins, Auntie Anne's and Pepper Lunch.

CRG vice president for marketing Panit Sanitprachakorn said the group had been quite cautious in opening new restaurant outlets last year due to the unrest that occurred in Bangkok a year ago, as well as the political and economic uncertainty that had affected the confidence of both consumers and investors.

He said that the company had last year tried hard to maintain the performance of its restaurants.

"We have seen the new elected government being formed as a good sign for economic recovery, and that will be a good indicator to raise the confidence of both consumers and the business sector. The new government, however, should take its responsibility seriously to revive the economy without any hidden agenda, and that will improve the overall situation," said Panit.

Kayvalee Wongprecha, general manger for Auntie Anne's snack restaurants, said the chain had opened only two new outlets last year.

She said that with a better economic and political situation, it would be more aggressive in opening outlets.

"We plan to invest about Bt40 million to open 10 new Auntie Anne's restaurants this year. Another Bt20 million will be invested to renovate 30 existing outlets," said Kayvalee, adding that two new major locations have been already confirmed: Jamjuree Square in the Samyan area and Central Chaeng Wattana shopping complex.

CRG has been the local franchisee for Auntie Anne's restaurants in Thailand for 10 years. The company operates 81 Auntie Anne's outlets, 70 per cent of them in Bangkok.

Panit said CRG had set a more aggressive expansion plan for its Auntie Anne's restaurants until 2012, with at least 10 new outlets opening every year.

Kwanchai Rungfapaisarn

The Nation