Wow Factor Plc, the operator of Domino's Pizza, Bake Cheese Tart and Le Boeuf French steak restaurant, looks set to accelerate its expansion and increase its Domino's outlets to 100 within five years.
Sirutt Ratanapaitoon, the company's director and chief financial officer, said yesterday that the company aims to expand Domino's more aggressively from now on, with 20-25 new branches opening in 2022 from 35 branches by the end of this year.
The company opened the first Domino's Pizza restaurant on Bangkok's Kluaynamthai intersection last Friday after it acquired the Domino's licence in October last year.
The 26th Domino's Pizza at Kluaynamthai came with an American-style restaurant with more colourful features to attract younger customers.
The company aims to open 10 new restaurants -- this figure includes Domino's Kluaynamthai branch -- in the remaining months of this year.
The other nine Domino's Pizzas will be opened at various locations in community malls and hotels in Bangkok. Each requires an investment of 5 million baht.
According to Mr Sirutt, new products will be added in the fourth quarter of this year, with more investment in information technology to increase customers' convenience when buying pizza at Domino's.
Mr Sirutt said that Domino's Pizza will be the flagship food brand to expand after the Covid-19 crisis because it is a food sector that retains sales growth in the country and is not an everyday food for Thai people.
It also experienced a positive impact from the Covid-19 pandemic because of the product's availability and affordable prices.
"Thailand's food industry is estimated to be worth 400 billion baht. The pizza market was valued at only 15 billion baht per year. Therefore, there is huge room to expand,'' Mr Sirutt said, adding that Thailand's quick-service restaurant is likely to resume growth this year because food operators have learned to adjust since the first wave of the pandemic.
Many of them have moved towards delivery channels, he said.
Domino's Pizza deliveries accounted for up to 60% of the company's sales in the second quarter of this year, compared to 40% before the Covid-19 crisis.
In addition to Domino's Pizza, the company also plans to open 10 shabu restaurants within the next two years, bringing the total number of shabu restaurants to 20. It also plans to open two fine-dining restaurants in the fourth quarter of this year, bringing total branches to four this year.
The company also plans to open between 20-30 food kiosks next year.
"With Covid-19 expected to stay with us for a long time, we have branched out our business to groceries, and selling ready-to-eat products, seasonings, sauces, and raw materials at food kiosks and to retail outlets,'' Mr Sirutt said.