LOTS Wholesale Solutions is planning to open 12 new stores in India over the next three years. Additionally, the company is looking at investing more than Rs 1,000 crore towards developing a stronger retail ecosystem within the next five years.
LOTS had launched its first store in Delhi in July last year at Netaji Subhash Place in Pitampura. Since then, it has added two more stores, one in Akshardham in east Delhi and another in Noida.
Tanit Chearavanont, Managing Director, LOTS Wholesale Solutions, said, “As part of our growth plans, we are aiming to capture the largest market share in India by bringing in new technologically driven practices to organise the current retail segment. Having launched three stores in just over a span of six months of operations, we are one of the fastest growing B2B retailers and are headed towards an even more robust expansion.”
At present, LOTS Wholesale Solutions’ objective is to increase its member base and strengthen its foothold in northern India as it is the company’s focus region. It is also eyeing to foray into Haryana, Punjab and Rajasthan in the coming years.
“Our concerted efforts remain in line with our customer’s business objectives and our omnichannel business model aims to effectively deliver convenience to every customer segment. One of our current client requirements is to reduce their sourcing time and we are actively working with them across various initiatives to provide the same. In a nutshell, our glocalisation strategy aims to overcome challenges by applying global practices with localisation of our products at the core,” Chearavanont stated.
LOTS Wholesale Solutions is part of the $50 billion Charoen Pokphand Group (CP Group) and a wholly-owned subsidiary of Siam Makro Public Company Limited from Thailand. The company runs and manages 113 Makro Cash and Carry stores, 8 Siam Frozen shops and 5 food shops in Thailand, totalling 734,713 square metres of sales space and 1 Makro Cash & Carry store in Cambodia.