Domino's Pizza has returned to the Thai market by opening a store in Bangkok as part of its plan to boost Asia-Pacific sales.
‘Thailand is among our priority markets for expansion. It is the right time to open again here,’ says Mr Pizziol. This is Domino Pizza’s second foray into the Thai pizza market after it left in the wake of the 1997 financial crisis. It believes it will benefit from the country’s rising number of middleincome consumers and their willingness to try new tastes.
The re-entry of the world's leading pizza delivery firm will likely heat up Thailand's pizza market, worth an estimated 8 billion baht annually.
"Thailand is among our priority markets for expansion. It is the right time to open again here," Steven Pizziol, the vice-president for Asia-Pacific at Domino's Pizza International, said on a visit to Thailand recently.
More branches in the capital are in the pipeline following the launch of its store in One Fenix Square on the corner of Sukhumvit Soi 22.
Domino's Pizza closed 25 stores in Thailand after its Thai operator was hit by the 1997 financial crisis.
"The business went well at that time, and we believe that Thai customers are still familiar with the brand," Mr Pizziol said.
"Our business has been successful in many rice-consuming countries."
The firm has more than 100 stores in Malaysia, 360 in South Korea and almost 250 in Japan.
Domino's Pizza believes it will benefit from the Thai market's rising number of middle-income consumers and their willingness to try new tastes.
Its new Bangkok store has its latest theatre concept and provides both dine-in and delivery services. A second branch will open in Bangkok next month.
Each new branch costs an average of US$150,000 to $250,000 and employs about 30 staff.
In Thailand, Evolution Capital Plc holds the rights to operate Domino's Pizza for 10 years. It plans to open 12 branches in the first year of operation, expected to reach 50 within five years.
About 65-70% of Domino's Pizza sales come from deliveries, with the rest from takeaway and dine-in customers.
Domino's Pizza operates nearly 10,000 stores in 74 countries. Some 2,000 stores are in Asia-Pacific, which has shown the fastest growth.
The company plans to open 300-400 new stores this year, focusing on international markets.
The Thai pizza market is led by The Pizza Company, owned by Minor International Plc.