SLRT, which operates the Sizzler steakhouse chain in Thailand, is looking to expand its presence in both domestic and regional markets.
Anirute David Collins, the general manager of SLRT Co., stated that while there is still potential for growth in Thailand’s steakhouse sector, the market in Bangkok is becoming saturated. As a result, SLRT is eyeing opportunities to establish branches in secondary cities after having already established a presence in all major Thai cities.
This year, the company plans to open two new branches in Thailand, with one slated for Bangkok and another in a different province. Although the specific province for the new branch was not disclosed, Anirute mentioned that Krabi shows promise due to Central Pattana Plc’s plan to launch a new mall there by 2025.
Presently, Sizzler operates 64 branches nationwide, with a majority situated in Bangkok, contributing to 60% of the company’s total sales. In the first quarter of 2024, Sizzler partnered with Goldsun Group to inaugurate its first branch in Ho Chi Minh City, Vietnam, under a franchise model, capitalizing on the steak and salad bar market’s growth potential in Vietnam.
Moving forward, SLRT plans to extend its operations to other countries in the region. Currently, the company is active in three countries, boasting 64 branches in Thailand, 10 outlets in Japan, and one in Vietnam.
Furthermore, the company aims to enhance its loyalty program by offering various benefits, such as discounts. The loyalty program, which saw its membership base exceed 500,000 by the end of 2023, representing a twofold increase from the previous year, constitutes 25% of total sales.
To cater to diverse customer segments, Sizzler has introduced menu items priced at a minimum of around 300 baht per dish, which has garnered positive responses from the market.
With the steakhouse market forecasted to reach 9 billion baht this year, the company sets its sights on capturing a 30% market share.
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