The Mall Group Co, the operator of The Mall, The Emporium and Paragon Department Store, is resuming the expansion of its Gourmet Market branches this year as consumer spending recovers following the pandemic.
Supawut Chaiprasitkul, the company's chief business officer for supermarket and food, said the company invested 100 million baht to open a stand-alone branch of Gourmet Market at Design Village Bangna on May 7. The expansion was put on hold for a period of three years due to the impact of the pandemic.
The new branch covers more than 2,500 square metres and offers more than 30,000 premium products and fresh foods, including offerings from Michelin-rated restaurants. The store is open daily from 10am until 10pm.
The target demographic is families and foreigners residing in the Bang Phli, Bang Na and Prawet neighbourhoods, said Mr Supawut.
By having a location near Suvarnabhumi airport, the new outlet would be able to attract tourists who would be able to shop for souvenirs before preparing to board their flights, he said.
There are 17 branches of Gourmet Market located in Bangkok and Nakhon Ratchasima.
Mr Supawut said Bang Na district was chosen because consumers there have good potential purchasing power.
"Bang Na is one of the most lucrative areas in eastern Bangkok, surrounded by many high-end residential communities, schools and hospitals, all within 5 kilometres of the new [Gourmet Market] branch," he said.
The project is surrounded by over 180 residential neighbourhoods, which include around 42,000 households.
The decision to establish this branch was also influenced by the success of another Gourmet Market branch at Design Village in Phuttamonthon, said Mr Supawut.
"The strength of the location, situated in Bang Na and Prawet districts, which are bordered by Lat Krabang to the north, Bang Sao Thong to the east, Bang Bo to the south, and Samut Prakan to the west, lead us to believe in the potential of the Design Village Bangna project," he said.
"The sales of all Gourmet Market stores in the first four months of this year have recovered by 80-90% and shown double-digit growth compared to the same period last year. We are ready to move forward with opening more Gourmet Market locations. Although the Bang Na location is a competitive market for retail, it still holds potential for a stand-alone Gourmet Market in the area."
The firm also plans to open a new Gourmet Market at The Emsphere project on Sukhumvit Road by the end of this year.
The Mall Group has 10 locations earmarked for new Gourmet Market branches.
"It is possible 1-2 new Gourmet Market branches will open in important areas with high potential this year," said Mr Supawut.
The firm also plans to renovate two existing Gourmet Market branches in Bang Kae and Bang Kapi this year.