Siam Makro PCL, a part of US $50 billion dollar Charoen Pokphand Group (CP Group), has announced the launch of its India operations in the wholesale cash and carry space.
The company has adopted a 100 per cent FDI route to establish its operations in India under the name of LOTS Wholesale Solutions.
The company plans to invest over Rs 1,000 crore in the first five years and open fifteen wholesale distribution centres across northern India. The first two stores of LOTS Wholesale Solutions will be opened in Delhi NCR in 2018. The intended investment by the company will generate over 5,000 direct and indirect jobs.
Tanit Chearavanont, Managing Director, LOTS Wholesale Solutions said, “2018 is a very exciting year for us at LOTS Wholesale Solutions. We are eager to commence our operations and delight our customers with excellence in service, assortment and convenience that is in our DNA. We bring with us 28 years of experience in serving various B2B customers, such as HoReCa, traders and service customers, through different cash & carry formats – large and small; we are confident that we will surely be able to enhance the modern wholesale sector in totality.”
The company has brought on board seasoned professionals with proven capabilities in key leadership roles. Sameer Singh, who comes with over 18 years of experience in Retail and Hospitality, is Director of Operations and Business Development; Nishant Rayirath, who comes with over 15 years of experience in Wholesale Cash & Carry operations, is Director of Commercial; Jatin Mazalcar, who comes with 16 years of strong background experience in Finance across various industries, is Director of Finance; and Manish Gehlot, who comes with 20 years of industry experience, is Director of Information Technology.
Siriporn Dechsingha, Chief Marketing Officer, Siam Makro PCL said, “India is an important market for us. Taking forward CP Group philosophy in India, we are committed to country, community and finally to the company. LOTS Wholesale Solutions will invest in people, technology and supply chain infrastructure and looks forward to contributing to India’s economic growth.”
She further added, “Our purpose inspires us to ‘Enhance People’s Lives’ by working closely with suppliers and farmers to produce environment-friendly products and to improve food safety supplies. One of the key pillars of Makro Capabilities Engine for sustainable mutual growth is ‘Local Love’ that empower us to source large majority of assortments locally.”
LOTS Wholesale Solutions brings benefits of convenience aided by technology and digitisation, last mile delivery at competitive pricing for its customer base of HoReCa, traders and service customers.