Home improvement retailer MR. D.I.Y. (Thailand) is planning to open 200 additional stores in 2025, with an investment budget of 2 billion baht. This aggressive expansion strategy in recent years demonstrates the company’s confidence in the Thai home improvement market, according to Andy Chin, CEO of MR. D.I.Y. Holding (Thailand) Plc.
The company has opened 122 new stores in 2021, 161 in 2022, and 188 last year. Mr. Chin emphasized that the Thai market shows significant potential compared to Malaysia, where the average population served by each MR. D.I.Y. store is approximately 25,000. In Thailand, this figure is around 70,000, highlighting a considerable opportunity for further expansion.
Recently, the company launched a new flagship store, marking its 900th branch, located in Seacon Square, Bangkok. MR. D.I.Y. now operates 900 stores across 74 provinces in Thailand, excluding Mae Hong Son, Phangnga, and Yala. Among these, 613 are standalone stores while 287 are located within retail malls.
By the end of 2024, the company plans to add around 20 more stores, bringing the total to over 920 nationwide. Earlier this year, MR. D.I.Y. announced a 2 billion baht investment for store expansion in 2024 and aims to invest an additional 2 billion baht next year to open 200 more stores.
Mr. Chin stated, “We expect to achieve the milestone of 1,000 branches by the first half of 2025.” Additionally, the company plans to establish new stores in three more provinces during the first quarter of 2025, ensuring it has a presence in every province across Thailand.
Looking ahead, MR. D.I.Y. is optimistic about the retail industry’s prospects next year, driven by recovering domestic consumption and a rebound in the tourism sector. Despite facing challenges such as high household debt and reduced spending power, the company is confident that its business model will remain robust. In a sluggish economy, Mr. Chin noted, customers may gravitate towards lower-priced or alternative products, which aligns with the company’s focus on providing value-driven goods.
