Thailand's Siam Makro, a part of USD 50 billion dollar Charoen Pokphand Group (CP Group), launched its India operations in the wholesale cash and carry space and plans to open 15 wholesale distribution centres in the next 3 years under the name of LOTS Wholesale Solutions
The company plans to invest over Rs 1,000 crores in the first five years of operations and to open its stores across northern part of India.
The first two stores of LOTS Wholesale Solutions will open in Delhi-NCR in the second half of 2018.
According to the company, the intended investment will generate over 5,000 direct and indirect jobs.
The company which has around 123 stores in Thailand alone had launched the cash and carry business in Cambodia last year before announcing its operations in India. The company will also open their cash and carry stores in China as well.
Tanit Chearavanont, managing director of LOTS Wholesale Solutions said “We bring with us 28 years of experience in serving various B2B customers such as HoReCa, traders and service customers through different cash and carry formats- large and small; we are confident that we will surely be able to enhance the modern wholesale sector in totality.”