Power Buy, Thailand's leading retailer of electronic appliances and information-technology products, will this year invest about Bt1 billion to set up new stores and renovate existing ones.
About Bt700 million will be allocated to new stores, and Bt300 million will be spent on renovating 13 existing Power Buy outlets.
Suthisarn Chirathivat, president of Power Buy, a branch of Central Retail Corporation, said it would open 18 new stores by the end of this year.
"We have already opened four new Power Buy stores, including in Hua Hin, which is our first standalone outlet. Occupying total retail space of about Bt2,500 square metres, the Hua Hin store was officially opened in January," he said. Suthisarn said new Power Buy outlets would be opened this year in Sukhapiban 3, Bang Na kilometre 7, CentralPlaza Lat Phrao, CentralPlaza Rama IX, and Lampang. He said it was the biggest expansion of Power Buy outlets in five years.
The company currently operates about 60 Power Buy outlets, mainly in HomeWorks, Thai Watsadu, and Central Department Stores.
Suthisarn said the overall IT and consumer-electronics market was anticipated to grow by 15-20 per cent this year, according to GfK research agency. The growth is being driven by political stability and a good rebound of the overall Thai economy. However, some concerns remain, including inflation and increasing prices of oil and commodities.
Power Buy sales grew by about 10 per cent to Bt10 billion in 2009, and by 15 per cent to Bt13 billion last year. The company expects its sales to increase by another 20 per cent to Bt16.3 billion this year, based on performance in the first six months.
The company has set its marketing budget at more than Bt60 million for promotions and special privileges such as discounts of up to 30 per cent.
Power Buy yesterday joined forces with electronic-appliances manufacturers of more than 200 world-class brands for "Power Buy Expo 2011".
Power Buy Expo 2011 runs until July 31 at Hall 103-104 of Bitec Bang Na, with total space of more than 12,000sqm to welcome 400,000 shoppers. The company expects sales of Bt450 million at the event.
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