CRC Sports Co Ltd, the operator of Supersports stores, is ready to branch out abroad by opening four outlets in Vietnam by the end of this year.
The Central Group affiliate has also set aside 350 million baht to speed up domestic expansion, said Alan Thomson, group managing director and international business director.
The company will open four shops at selected department stores in Hanoi and Ho Chi Minh City in the fourth quarter with an estimated investment cost of about 100 million baht.
It plans to add eight stores each year at locations outside Hanoi and Ho Chi Minh City.
Mr Thomson said the business platform of Supersports stores in Vietnam will be identical to that in Thailand, with similar products and stores sized from 500 to 1,000 square metres.
Vietnam is a strategic location because it is a new and large market without any multi-brand sport retailers, he said.
CRC Sports will start off as a retailer, as it did in Thailand 10 years ago, and later will aim at becoming a distributor.
Mr Thomson believes the market in Vietnam has strong potential because of the country's economy, market size and population.
The company will consider expanding to other Asean countries if its Vietnam stores perform well.
Tony Morton, new managing director of CRC Sports, said the company plans to add 29 shops in Thailand with a budget of 350 million baht.
Of the new branches in Central Group outlets, 11 will be under the Crocs brand, seven will be Supersports shops, four will be branded Fit Sport, four will be under the New Balance brand and three will be part of Skechers shoes shops.
The company will spend about 60 million baht on promotion and advertising this year.
Supersports sales last year topped 5.2 billion baht, a rise of 20% from 2011.
The key factors in the success were store renovation and the launch of new stores to reach more customers and increase sales.
Sales are expected to grow by another 20% to 6.24 billion baht this year.
About the author
- Writer: Pitsinee Jitpleecheep
Position: Business Reporter