Future Mart operator may start offering retail management

RETAILING / STRATEGY

Future Mart operator may start offering retail management

PITSINEE JITPLEECHEEP

Sathorn Thani Co, the operator of the Future Mart retail complex owned by the Wanglee family, is studying the feasibility of expanding into retail management within the next few years. This would be the latest move by Sathorn Thani after operating Future Mart on Rama III Road for a decade.

Veeraphol J-Srithai, the company's general manager, said many land developers would like to enter the retail business. In addition, the existing developers, who have already entered this sector, require a retail management firm with experience in the field.

The company has already approached developers wanting management services for their community malls.

''We don't want to develop new retail complexes by ourselves because of high competition, resulting from the entrance of new giant retail chains,'' Mr Veeraphol said.

Apart from retail management, the company has spent about 50 million baht turning Future Mart from a specialty store to a community mall. The scheme appeals to residents moving into new condominiums along Rama III Road.

''Our advantage is Future Mart is the only retail complex on Rama III Road. So, it can cover customers living around our complex,'' Mr Veeraphol said.

The store renovation was started in October of last year and is scheduled to be completed in the first half of this year. Under the store facelift, the company reduced the retail space of Makro Office to 1,500 square metres from 2,300 square metres and closed a 2,600-square-metre bowling lane on the second floor.

The vacant space was filled with MaxValu, a Japanese supermarket chain that was once part of the Jusco group. Another 1,500 sq m food court and a bakery chain were added on the same floor of MaxValu.

MaxValu at Future Mart is the first prototype store of Aeon (Thailand) before it converts all existing Jusco general merchandise stores to the MaxValu brand this year.

Sathorn Thani is also negotiating with food operators to open outlets for their services at Future Mart.

Additionally, the store's logo has been changed to make it more modern in line with the lifestyle of nearby residents.

After completing the store facelift, the company expects the number of visitors to increase by 30%