TERMINAL 21 has joined forces with Foodland Supermarket to form a partnership for business expansion in supporting their strategic move to the high-potential markets in the provinces.
The partners says their collaboration brings mutual support by combining both parties’ strengths and competence in gearing towards the future together, with the first Foodland Supermarket in the Northeast to open at Terminal 21 Korat this year.
“The partnership with Foodland Supermarket is part of our key strategy to build supermarkets as an anchor tenant,” said Prasert Sriuranpong, president of Siam Retail Development Co, the operator of Terminal 21.
“Both Foodland and Terminal 21 have many business objectives in common – focusing on middle-class consumers, fostering quality of products and service, and gearing towards major provincial markets. This collaboration will strengthen [both of us] in walking towards the future together.
“The first Foodland Supermarket in the Northeastern region of Thailand will open at Terminal 21 Korat this year. Looking forward, our partnership will strive to bring new shopping experiences to local consumers as well as help raise the profile of local product development for a sustainable future.”
Somsak Teraphatanakul, chairman of Foodland Supermarket Co, said: “Building a partnership with Terminal 21 simply goes in line with our five-year growth strategy, which is devised to be more intensive than the previous years in order to reach new customers as well as retain the existing customer base while coping with today’s fiercely competitive world.
“In more than 40 years in business, Foodland has become a widely recognised and favourite supermarket brand, and still has a large potential for growth. Seeking the right business alliance that shares the same business policy, principles and direction is essential for us in growing towards the future together while constantly bringing a good quality of life to Thai consumers.
“We are confident that Foodland at Terminal 21 will bring a great experience to consumers looking for good-quality products and hearty service as well as the convenience of shopping at any time of day or night.
“Our first branch in northeastern Thailand, set on ample space of 2,500 square metres and costing about Bt200 million in investment, will come with a fresh new look and is expected to bring a brand-new shopping sensation to consumers in Korat and nearby provinces. We anticipate 5,000-6,000 customers daily.”
Foodland plans to invest Bt1 billion in this year’s expansions, including the opening of three new supermarkets locally. The company posted between Bt7 billion and Bt8 billion in sales last year. It plans to open a new Foodland supermarket at the Terminal 21 complex in Pattaya in the near future.
Foodland Supermarket has set a growth plan to open two or three new branches each year in Bangkok and other provinces. The company expects to reach the Bt10-billion revenue mark within three to five years, with the number of branches reaching 30.
Currently the retail space of Terminal 21 Korat is 85 per cent leased. Anchor tenants include the eight-screen SF Cinema City, The Rink Ice Arena, Fanpekka theme park, Foodland Supermarket, Sports World, HomePro Living, and Pier 21 food court, as well as a stationery zone, a health club, a large event hall, and mini anchor stores from 200 local and international brands.
The Urbanista Shop Zone, comprising 400 small retail units of about 6-20sqm, has been well received among fashion and local retailers, with more than 70 per cent now leased.
Established in 1991, Siam Retail Development Co is a subsidiary of Land and Houses. It set out to be the developer for retailing business under the business philosophy of international standards for building modern shopping centres in order to reflect the betterment of retailing business in Thailand.
The company currently operates four shopping malls: Fashion Island, Life Center, The Promenade and Terminal 21 Asoke.