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S&P turns to overseas expansion

S&P Syndicate, a leading local operator of restaurants and bakeries, plans to focus on expanding its overseas business over the next 10 years, with foreign sales targeted at Bt10 billion or half the company’s revenue.

Chandnibha Suriyong, senior vice president for operations of S&P Global, said the company expected to double the number of its branded Thai restaurants in overseas markets from 20 to 40 in the next decade.

This year the company has opened a new Siam Kitchen restaurant in Singapore.

Chandnibha said the company would launch its new Thai restaurant brand, Suda, with a pilot 120-seat restaurant in August at Covent Garden in London.

About five Suda restaurants will open abroad within the next five years.

Pravesvudhi Raiva, the company’s president, said the first S&P restaurant opened in 1973 on Sukhumvit Road Soi 23. Having operated restaurant and bakery businesses for 38 years, S&P was quite established on the Thai market.

The company achieved Bt5 billion in sales last year, of which Bt700 million was from overseas businesses.

“We are in a phase of focusing on overseas expansion. We have set a new business policy to put focus on opening our branded restaurants in foreign markets,” Pravesvudhi said.

“We will also export our ready-to-eat meals to many markets around the world as Thai foods are more recognised by overseas consumers both in neighbouring countries and Europe.”

He said the company operated 20 branded restaurants in foreign markets including the UK, Switzerland, Austria, Singapore, mainland China, Taiwan and the Philippines.

The company has developed many restaurant brands to |penetrate overseas markets, including Patra for classic authentic Thai restaurants, Patio for contemporary Thai restaurants, Thai brand for Thai cafe restaurants, Bangkok Jam for trendy and |premium-price restaurants and Siam Kitchen for casual Thai restaurants.

Pravesvudhi said Patra had been promoted as the flagship brand for overseas expansion. Nine Patra restaurants have opened and become quite established in six markets around the world.

“Without expansion, business will go backwards and worsen. Continuous expansion is the way to keep our business alive,” said Pravesvudhi.

Pravesvudhi said S&P operated 358 restaurants and bakeries in Thailand alone. The company will open 40 new outlets this year.

There are currently four Patra restaurants in England alone. The restaurants have also opened in many other markets including Austria, Singapore, China and Geneva.

Source: The Nation

ThaiVest Editorial Team