Thailand’s 1000 FamilyMart Stores to Become Tops Daily Mini-Supermarkets

FamilyMart, a well-known Japanese retail chain, is exiting the retail market in Thailand, with all of its remaining convenience stores running as Tops Daily, a brand owned by Central Group. The conversion should be complete by the end of 2023.

According to Nikkei, FamilyMart will leave Thailand entirely after its franchise arrangement with local retailer Central Group expired in late May. The decision was announced on August 10, but the conversion of FamilyMart stores into Tops Daily mini-supermarkets had already begun.

Central Retail Corporation Plc (CRC) has purchased 100% of the shares of FamilyMart, a large convenience store chain, as part of its efforts to build a new business model to cater to modern consumers.

According to CRC CEO Yol Phokasub, the acquisition will improve Central Retail’s position in Thailand’s food market and convenience store business, which is thriving.

Since 2012, CRC has collaborated with Japan FamilyMart Co (JFM), with its subsidiary SFM Holdings holding a 50.65% share and Robinson Plc (RBS) holding a 0.35% stake in Central Family Mart Ltd (CFM), Thailand’s local operator of the FamilyMart chain.

CRC acquired the remaining 49%, or 5,757,500 shares, from the Japanese partner yesterday, making it the sole owner of FamilyMart’s operation in Thailand.

Mr. Yol stated that CRC has been working for the past eight years to strengthen the Tops Daily franchise’s business model and grow its product range, as well as its domestic presence.

“[FamilyMart] has become a destination with ready-to-eat meals, beverages, fresh coffee, and open spaces for everyone to mix and mingle 24 hours a day,” Mr Yol explained.

“Currently, FamilyMart has 1,000 stores across the country, and we intend to continue expanding our store footprint as we commit to investing for future growth.”

Mr. Yol stated that the acquisition of FamilyMart is in accordance with CRC’s objective to improve its retail and service platform, reinforce our leadership in the retail market, and expand our delivery of full-scale services through customer-centric omni-channels.

To accommodate clients’ hectic lifestyles, FamilyMart introduced 24/7 coin washing machines earlier this year. To provide greater convenience to customers, it has launched Food Drink Container Mart machines as well as automated vending machines.

FamilyMart has also teamed with Grab Thailand to allow consumers to purchase things and have them delivered using the GrabMart application, as consumers nowadays want speedier services.

In October 2022, Central Retail Corporation, Thailand’s premier mall operator, restructured its food businesses, integrating all retail brands under Central Food Retail (CFR) as the single brand Tops.

Chakkit Chatupanyachotikul, CFR’s head of marketing, public relations, and creating shared value, said the corporation began reorganising in the middle of this year with a one-brand strategy.

Tops Market, Tops Daily, Tops Online, and Tops Superstore will be renamed Tops, while Central Food Hall will be renamed Tops Food Hall.

Tops’ logo was modified to create a more current, original, and exceptional design, he explained. In keeping with current consumer habits, a new typeface was employed to create a different image for Tops.

According to Mr Chakkit, the logo portrays the brand’s modern and approachable personality.

Furthermore, each Tops Daily concept store’s product display has been modernised with a new brand image, expressing the company’s philosophy of “Every Day Discovery,” he stated.

22 Tops stores have already been updated to the new look, with the remainder 268 due to be updated next year.

Mr. Chakkit did not disclose the cost of the rebranding. “Tops wants to go beyond being a supermarket and become a lifestyle hub that meets changing needs,” he said.

“This reform marks the beginning of a journey into a new retail era for Tops, establishing a strong brand DNA that is more approachable and trendy.” This reform is more than just a rebranding exercise and physical improvements; it is a brand transformation that will strengthen its image and deliver a higher degree of experience than just a supermarket.”

Mr. Chakkit further stated that the company recently established two new shop types within its food portfolio: Tops Fine Food and Tops Club.

Tops Fine Food established its first location on Sukhumvit Soi 39 in a 1,400-square-metre facility.

Tops Club is a membership-based company that launched on September 28 and offers largely imported products from premium companies throughout the world, as well as fresh and contemporary products for every lifestyle requirement.

In total, there are 290 Tops supermarket locations throughout Thailand.

Of the total, 138 were Tops Markets or Tops Supermarkets, 135 were Tops Daily shops, and the remaining 17 were alternative ideas.