MR. D.I.Y. (Thailand), a retailer specializing in home improvement and lifestyle products, is set to launch 200 new stores across the country.
Approximately 90% of these new locations will be standalone stores, while the remaining will be situated in shopping malls. Andy Chin, CEO of MR. D.I.Y. Holding (Thailand) Plc, emphasized the importance of the standalone store strategy.
“This approach allows us to reach more consumers in various districts throughout Thailand,” he stated.
The company is investing 2 billion baht in this expansion plan, aiming to exceed 1,000 stores by the end of the year.
With the recent opening of its latest store in Phangnga province, MR. D.I.Y. has successfully established its presence in every province in Thailand.
Mr. Chin noted that the company is focused on helping Thai consumers cope with rising living costs by providing quality products at competitive prices.
According to a survey conducted by Frost & Sullivan, MR. D.I.Y.’s product prices are, on average, 24.7% lower than those of its competitors, with 94% of its offerings priced lower than competing brands.
To further support the local economy, MR. D.I.Y. plans to increase its sourcing from Thai suppliers, particularly for electrical items, plastic goods, and fast-moving consumer products, acknowledging the quality of local products.
Currently, imported items represent 69% of the product range, while over 350 Thai suppliers contribute the remaining offerings.
Despite the ongoing economic challenges, Mr. Chin remains optimistic about the business prospects.
“We are seeing the least impact from the current situation compared to others, and we view this as an opportunity to expand our customer base, particularly targeting higher-middle income consumers who are increasingly looking for quality products at lower prices,” he commented.
As of December 31, 2024, MR. D.I.Y. operates 932 stores across 74 of Thailand’s 77 provinces, offering 16,000 products in six categories: household and furnishings, hardware, stationery and sports, electrical goods, toys, and miscellaneous items.
The company reported a revenue of 16.2 billion baht, with a compound annual growth rate of 27.7% from 2022 to 2024, and household and furnishing sales accounting for 35.4% of this total.
“We are expecting to see double-digit growth this year,” Mr. Chin affirmed.
