Saturday, November 7, 2009
Tops exports house brands
The operator of Tops Supermarkets plans to export its house-brand consumer goods to Asian and Western retail chains next year.
Central Food Retail Con (CFR) expects to export its two brands, Cooking for Fun and My Choice, to chains in the United Kingdom, Singapore, Belgium and Hong Kong, said Nick Reitmeier, the company's vice-president for product buying. CFR is negotiating details now.
Mr Reitmeier said its brands were interesting to foreign chains because they meet international standards and the packaging is stylish. Moreover, the price is attractive, with an item costing 95 baht compared to almost 300 baht for a similar item in Hong Kong.
Another brand is called Tops, which is mainly for general necessity items such as rice, eggs, paper towels, dried fruit, cleaning products and a wide variety of housewares. Tops brand products are available at all branches of Tops Market, Tops Super and Tops Daily.
Cooking for Fun offers ingredients, ready-to-cook items and kitchen utensils, and is available only at Central Food Hall and Tops Market. My Choice provides consumer items and ready-to-eat meals and is available at Central Food Hall and Tops Market.
The company has budgeted 90 million baht to develop its branded products by next year. It has 1,000 own-brand items available now, rising to 1,500 next year.
Brand sales are expected to achieve 750 million baht next year, up from 450 million this year.
The market value of house-brand products available at modern food retail outlets in Thailand is estimated at between 5.7 billion and 9.6 billion baht per year, with annual growth of 20-25%.