Villa Market JP Co, the operator of the supermarket chain, plans to boost its number of stores to 50 and increase sales to 10 billion baht over the next five years.
The company plans to open four or five new supermarkets on average each year, bringing the total to 50 or more in the next five years, up from 33 so far, said chief executive Pisit Poosanakhom.
Each supermarket of 1,000 square metres will require an investment of 40 million baht and create 25-30 jobs.
Under the plan, sales are forecast to increase to 10 billion baht within five years, up from the expected 7 billion this year.
The company plans to open four new Villa Markets in 2016. New stores have already opened in Hua Hin and at The Circle shopping mall on Ratchaphruek Road.
The 33rd branch at UD Town shopping complex in Udon Thani province opened on Aug 12. The next store will open in Soi Maiyalap off Ram Intra Road by year-end.
Villa Market generated 6 billion baht in sales last year.
"Villa Market is a family-run business, so we don't work under pressure," Mr Pisit said. "We are a niche supermarket, so we will gradually expand our new branches toward locations that have sophisticated demand."
Villa Market opened its first store 42 years ago near Sukhumvit Soi 33. Now it is under the management of the second generation led by Mr Pisit, the son of Surapong, who founded the business.
"As the second generation, we want to maintain the family's legacy," Mr Pisit said. "Our family's passion is to continue the core values of Villa Market, which is providing the best offerings to clients in everything we do in terms of services, products and accessible locations."
He said Villa Market wants to maintain its core competency while becoming stronger within the next five years and not moving aggressively to open new stores as others do.
"Our challenge today is to accept changes in consumer behaviour as it becomes more sophisticated and driven by technology, and adapt ourselves to such changes," he said. "However, our core values will be the same."
Mr Pisit underlined the need for Villa Market to quickly respond to the demands of individual customers, who are more fragmented than ever.
"It's no longer the case that one product will satisfy up to 1,000 customers as in the past," he said. "We want to spend our energy in a way that creates differentiation in the marketplace. The number of stores is not our main target."
Mr Pisit said the company has the wherewithal to open at least five new stores a year or as many as 8-10 new stores a year if the right opportunities and locations can be found.
"We have no plans to expand overseas, as we see Thailand as still having great opportunities both in Bangkok and upcountry," he said.
Apart from the new branches, the company is conducting a feasibility study to open a new distribution centre close to the existing one near Suvarnabhumi airport.