Home Product Center Plc, the operator of HomePro home department stores, opened its new lifestyle shopping centre called Market Village yesterday.
The investment worth 1 billion baht aims to tap consumers with high spending power in the Rangsit area.
Saowanee Sirariyakul, the company's senior vice-president, said the latest Market Village is located on a 25-rai plot on Rangsit Klong 4, its fourth branch following those in Hua Hin, Bang Phli and Phuket.
The new Market Village has sales space of 35,000 square metres, comprising various anchors such as a 9,000-sq-m HomePro, Tops supermarket, Watsons health and beauty store, B2S, The Fitness Society, Play Tory, Playland, and over 100 shops as well as street food.
"The opening of this new Market Village comes in line with our expansion plan to create a new landmark for customers in Rangsit area, which are crowded with residential projects, universities and government agencies," said Ms Saowanee.
HomePro on the second floor of Market Village is the 85th branch for that chain. It comes with a new store image, designed to fit the new normal lifestyle.
Learning from the pandemic, the company changed its product display and added new products to attract customers.
Store layout and product mix have been adjusted, with the company increasing the proportion of house brand products to 25% from 22% last year.
New products with high demand during Covid-19 such as those supporting work from home, kitchen goods, and bed and bath items were also added at this store.
"We are confident HomePro Rangsit branch will get a warm response from customers within a 30-kilometre radius and expect 100 million baht worth of sales per month," she said.
In addition to Rangsit, the company has scheduled to open a new HomePro branch in Suksawat location on Nov 28 this year, bringing the total number of HomePro stores to 86 by the end of this year.
Home Product Center reported total revenue was 67.4 billion baht in 2019, with a net profit of 6.17 billion, up from 66 billion baht and 5.61 billion the previous year. For the first nine months this year, the company's revenue was 45.7 billion baht, with a net profit of 3.6 billion, down 9.41% and 18.5%, respectively.
Lower operating results stemmed largely from the closure of some branches in Thailand and Malaysia this year. With two new HomePro branches and one Market Village, the company expects its overall revenue to reach 69 billion baht by the year-end.