The Mall Group plans to allocate 1 billion baht to overhaul all Gourmet Market branches over three years in response to changing lifestyle trends and to revitalise competitiveness.
Achara Umpujh, senior executive vice-president, said the company already renovated two Gourmet Market branches at The Mall Ngamwongwan and Siam Paragon, giving them a new look last year.
The facelift for 15 remaining stores is expected to be completed by 2024. Of that plan, 200-300 million baht will be alloted for both renovation and new projects, 100 million baht for stores in outskirt locations and 50-70 million baht for standalone branches.
The company invested over 100 million baht to revamp the Gourmet Market in Siam Paragon in December and the new look will be completed in the third quarter.
Under the new concept, Gourmet Market will be transformed into an outdoor style market distinct from competitors with an area of 8,000 square metres, up from 6,000 sq m last year.
"The transformation will bring out the unique Gourmet Market signature. Inspiration came from different types of markets around the world," said Mrs Achara.
Gourmet Market's redesign has combined the new and the old town, comprising 12 zones with 50,000 items such as Taka Marche, a traditional Japanese zone that boasts Sugimoto meat shop, a famous Wagyu beef shop founded 110 years ago.
Ploychompu Umpujh, general manager of supermarket merchandising, said the makeover of Gourmet Market at Siam Paragon will not only offer new designs and decor, but the merchandise concept will be different from its competitors.
In addition to Siam Paragon, the company is overhauling Gourmet Market at its Tha Phra location, expanding the space to 14,000 sq m from 3,500 sq m.
Mrs Achara said the facelift will increase sales and customer traffic at the market. The company expects sales for this year to grow by 10% after a slight drop last year because of the pandemic.
"We are confident because there are positive signs from the Covid-19 vaccine rollout that have improved public confidence, convincing them to come out and shop more. The government is determined to restore the economy," said Mrs Achara.
Sales at Gourmet Market make up one-third of revenue for The Mall Group, accounting for around 50 billion baht in 2020.