CP All, the retailer controlled by Thai billionaire Dhanin Chearavanont and his family’s Charoen Pokphand Group, has announced plans to invest up to 13 billion baht ($353 million) in 2024. The majority of this investment will go towards expanding its store network and improving its distribution efficiency. The company plans to open around 700 new stores in Thailand, costing up to 4 billion baht, and continue expanding its presence in Cambodia and Laos. As of March, CP All had a total of 14,730 stores in Thailand.
In addition to opening new stores, CP All will allocate funds for new projects such as a distribution center, fixed assets, and IT systems. The company aims to develop distribution channels for products and services both online and offline, with a focus on reaching customers in high-potential areas. CP All’s first-quarter net profit saw a significant increase of 53% to 6.3 billion baht, attributed to growth in domestic consumption, economic activities, tourism recovery, and government stimulus. Revenues also increased by 8.5% to 241.3 billion baht.
Looking ahead, CP All expects to continue advancing its gross profit margin through a product strategy that caters to consumer demand. The company plans to drive higher sales participation of higher-margin products in both food and non-food categories. Earlier this year, CP All’s retail unit CP Axtra announced a merger with CP Group’s Ek-Chai Distribution as part of a reorganization to simplify the group’s structure and support future growth opportunities. The merger will combine over 160 Makro wholesale stores with more than 2,500 Lotus retail chain outlets in Thailand and Malaysia, aiming to enhance operating efficiencies.
CP Group, founded by Dhanin’s late father Chia Ek Chor and his brother Choncharoen Chiaravanont in 1921, is one of the world’s largest producers of animal feed and livestock. With a net worth of $34 billion, Dhanin and his brothers are the wealthiest individuals in Thailand. Dhanin, who received the Malcolm S. Forbes Lifetime Achievement Award in 2023, served as chairman of the company for 48 years before stepping down in 2017. His eldest son, Soopakij, currently serves as CP’s chairman, while his youngest son, Suphachai, is the CEO. In addition to retail, CP Group has interests in telecommunications, finance, pharmaceuticals, property, automotive, and e-commerce.
