Updated: July 22, 2018
Thailand’s wholesale distrubution company, Lots Wholesale Solutions last week opened its first store in India. The company, a wholly-owned subsidiary of Thailand-based Siam Makro PCL, and owned by Charoen Pokphand Group (CP), aims to provide a wide range of products to its customers, including retailers, hotels, restaurants, caterers, service business operators, government agencies, hospitals and education institutions.
“Arrival of the multinational companies like CP Wholesale in India and registering their presence by opening chain of stores in India shows the popularity of Brand India in the world,” commented Union Minister of Food Processing Industries Harsimrat Kaur Badal, while inauguarating the store. “The day is not far for India to become the global food market and global food factory.”
Also present at the opening ceremony were Thailands Ambassador to India Chutintorn Gongsakdi; Dhanin Chearavanont, Senior Chairman of CP Group; Soopakij Chearavanont, Chairman of CP Group; Supachai Chearavanont, CEO of CP Group; Suchada Ithijarukul, Group CEO of Siam Makro PCL, the leadership team of LOTS Wholesale Solutions; and business partners.
The company had announced its entry into India at the World Food India 2017 with a Memorandum of Understanding (MoU) worth INR 1,000 crore signed with the Union Ministry of Food Processing Industries. With its initial footprints in Delhi NCR, Lots Wholesale Solutions will help generate 5,000 direct and indirect jobs over the next five years.
The B2B store, located at Netaji Subhash Place in Pitampura, is fully equipped with modern warehousing and storage facilities for its members. Under its region-specific business strategy, the company will provide support to home-grown brands and local suppliers. Fresh produce will be directly sourced from local farming communities, which will help farmers increase their income while reducing wastage during transportation and storage.
Speaking on the occasion, Soopakij Chearavanont, Chairman of CP Group said, “India is an extremely important market for us.
Source: The Statesman