Thai Watsadu, a leader in the retail business of construction materials and home decor under CRC Thai Watsadu Co., Ltd., part of Central Retail (CRC), is set to kick off its investment year in 2023 by expanding with 10 new branches nationwide. The first quarter will see openings in every region, including Rangsit, Korat, Kamphaeng Phet, and Phuket, aiming for a total of 80 branches across Thailand. This aligns with CRC's goal of achieving over 15% revenue growth, benefiting from the recovery in the real estate sector driven by demand for residential construction, which is expected to positively impact the business.

Mr. Sutthisar Jirathiwat, CEO of CRC Thai Watsadu Co., Ltd., part of Central Retail, revealed that CRC Thai Watsadu aims to become a model for retail business in construction materials and home decor, ready to deliver high-quality products comprehensively. The company also aims to be a crucial cog in driving the economy according to the strategy of Central Retail Corporation Public Company Limited (CRC), which is committed to fostering growth across all business groups within the group, striving towards The Next Sustainable Growth, ensuring steady and sustainable growth in retail. Thai Watsadu has seen remarkable growth, with its market share in the Home & Garden specialist retailer segment increasing from 4.3% in 2012 to 9.8% in 2021, according to HSBC Research. In 2023, Thai Watsadu targets a sales growth of 15%.

In 2023, Thai Watsadu continues to expand its business to achieve its growth targets, preparing to open 10 new branches nationwide in high-potential areas with strong demand for construction and real estate development. This expansion is part of the hardline business group (Thai Watsadu, BNB Home, Power Buy). The growth is supported by factors that will boost the construction materials and home decor market, as the real estate market in 2023 shows signs of recovery compared to the past two years. Krungthai COMPASS Research Center predicts that the Thai economy will grow by over 4%, driven by economic growth and the positive influence of the tourism sector as the country fully reopens.

This year will see the continuation of branch expansions in both standard (Red Format) and hybrid formats, aiming to broaden the consumer base and target tourist cities and large industries to become a comprehensive center for construction and home decor products. In February 2023, two new branches were opened:

Thai Watsadu x BNB Home Rangsit Klong 4, a collaboration between Thai Watsadu and BNB Home in a hybrid format, developed from consumer demand for a one-stop shop for both construction materials and home decor. Located in the heart of Rangsit, covering over 20,000 square meters with more than 30,000 product items, the Rangsit Klong 4 branch aims to support the expansion of real estate in the northern Bangkok zone, offering essential services such as home services, design, installation, and repair from the WeFix team of professional craftsmen with quality standards.

Thai Watsadu Korat Hua Tale in Red Format is the 67th branch in the country and the 3rd in Nakhon Ratchasima, located on over 17,000 square meters to cater to the housing market in the province with the highest real estate activity in the Northeast, as well as the growth of the construction sector in the gateway to the Northeast, keeping pace with the economic recovery.

In March, Thai Watsadu will open 2 more branches: Thai Watsadu Kamphaeng Phet and Thai Watsadu x BNB Home Phuket, Chalong, marking the first quarter of the year with 4 branch openings across all regions of Thailand, including the North, Northeast, Central, and South. In 2023, Thai Watsadu aims to have a total of 80 branches covering all key areas nationwide. The rapid growth of the business reflects the potential of the construction and home decor industry, which continues to be in demand from consumers. The business adapts to align with consumer lifestyles, continuously meeting diverse consumer needs while striving to strengthen partnerships for mutual growth, which enhances the business's robustness and ability to deliver comprehensive quality products,” Mr. Sutthisar concluded.