Siam Makro enters India, to invest Rs 1,000 cr

Tribune News Service

New Delhi, January 18

Thailand-based retailing firm Siam Makro PCL today announced entry into the cash and carry segment in India and has plans to invest around Rs 1,000 crore in the next five years.

The company will operate under the brand name ‘Lots Wholesale Solutions’.

The company’s India Director-Operations, Business Development and Expansion, Sameer Singh, said they aim to have 15 wholesale distribution centres in the next three years and generate over 5,000 direct and indirect jobs.

He said the company has been successfully doing its operations in Cambodia in the food sector encompassing an array of inter-related activities.

The first two stores of Lots Wholesale Solutions will be opened in Delhi NCR in 2018. The company has come in through the 100% FDI route to establish its business in India.