Having overcome a difficult 2023, home improvement retailers across Southeast Asia have revealed that they are in expansion mode in the coming years. Thai retail chain Siam Global House is determined to stay on track with its plan to increase the number of stores to 101 by the end of next year, after missing its expansion target by one store last year. The company announced at an investor briefing that it plans to open eight stores this year, up from 83 stores last year, with plans to open 91 stores by the end of the year. The company plans to add 10 stores in 2025, reaching its goal of 101 stores.
Last year, Global House planned to open a second store in Cambodia, where it has a subsidiary. The branch opened late, only last February.
Meanwhile, the company's affiliates in the region are also planning expansion in their home country. Indonesia's PT Caturkarda Depot Bangunan, in which Global House and Siam Cement Group's subsidiary Global House International (GBI) hold a 22% stake, is ramping up its expansion plans over the next three years. It revealed that. The company ended 2023 with 13 branches, and announced at an analyst briefing that it plans to add four more branches this year. This is an acceleration of store expansion, with the company opening just one store last year and focusing instead on land banking.
Depot Bangunan plans to add one more store in 2025 and open three to five stores in 2026, including one in a Bali resort. The Depo Bangnan store called “Supermarket” is at a distance of 7,000 to 9,000 meters from him2 In terms of size.
In Laos, GBI's 34% subsidiary Soubani Home Center has resumed its expansion plans, opening four new branches between 2024 and 2025, bringing the total number of stores in the country to 11 by the end of the same period. I'm making plans.The previous Souvanny store range is 6 250 meters2 up to 20,000 meters2 In terms of scale, we opened a new branch in 2021.
Meanwhile, Myanmar's Pro1 Global plans to open three branches this year, including one in Yangon, increasing the total number of branches to 15 by the end of the year. Pro1 has a small store called Pro1 Plus, which is 1 500 m.2 Other outlet sizes are 2,500 meters.2 14,000 meters2.
Last year was an overall tough year for home improvement retailers in Southeast Asia, with weak consumer confidence, delays in government projects and higher costs holding back profits. Sales in the home center retail industry were relatively strong, supported primarily by new store openings.