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FamilyMart Shuts Down in Thailand After 31 Years, All Outlets to Be Taken Over by Local Chain

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Feat Image Familymart Thailand Closes
Source: Inside Retail Asia & Central Food

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If you’re visiting Thailand in the near future, don’t be surprised if you can’t find any FamilyMart outlets in the country or if a previous FamilyMart store has now changed its name.

This is because the Japanese convenience store chain is leaving Thailand after being in operation in the country for 31 years.

Family Mart Thailand 1

As reported by Nation Thailand, Central Retail, the company that operates the chain stores decided to rebrand FamilyMart stores into ‘Tops Daily” stores, a local brand.

Furthermore, Nikkei Asia reported that FamilyMart’s franchise agreement with Central Retail expired in May 2023.

FamilyMart first entered Thailand in 1992 via a joint venture but recently saw a slump in profits due to the dominance of another Japanese convenience store chain in Thailand, 7-Eleven. In fact, FamilyMart in Thailand only reported profit last year after 4 successive years of losses.

Td 1024X683 1

The move by Central Retail was in response to the current trend of other convenience store operators in the country replacing typical small convenience stores with an area of 150 square metres with larger stores, offering a parking space and dining area and a wider variety of services to the consumers. The concept is similar to 7-Eleven convenience stores, which have shifted to investing in large-scale outlets during the past 10 years.

So, what do you guys think of FamilyMart leaving Thailand after 31 years? Have you ever visited a FamilyMart store in the country? Share your thoughts and experiences with us in the comments.

 

Also read: “MyJPJ doesn’t apply overseas” – Loke Clarifies As 2 M’sians Fined in Thailand for No Physical Licence

Feat Image Saman Thai

Source: Central Food

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



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