M-Point mart announces expansion plans
M-Point mart announces expansion plans
The M-Point Trading Company or (M-Point Mart) is preparing to open another 32 branches throughout Vientiane to reach a target of 50 minimarts in the capital next year in response to a growth in customers.
M-Point mart also expects to be able to employ an additional 400 staff if all the new branches are opened as planned.
Chief Executive Officer of M-Point Trading Company Mr Phongpaseut Kanlagna recently told Lao Economic Daily that the M-Point Company has served the public in Laos since 2006, aiming to open convenience stores in other provinces as well as the capital, and build a business presence throughout the country.
At present, M-Point mart has 18 branches in the capital and the r ecognition of the brand is growing throughout Vientiane and its stores are well accepted.
In Vientiane, there is potential to drive for minimart business competition and convenience stores. M-Point Mart aims to expand its new services to access communities in the capital to provide them with convenient purchasing options and standard quality products.
The capital now experiences traffic problems in many areas, while people also get up early to go work and school, so they don't want to travel far to do their shopping, meaning local convenience stores are gaining in popularity, Mr Phongpaseut explained.
He also believed that when Laos joins the Asean Economic Community at the end of this year, it will bring an in flow of products from the regional member countries, contributing to drive down the cost of various packaged goods.
This will be positive for customers as the majority of M-point mart's products are imported from Asean nations.
The M-Point Company stocks well known quality brands which are available in neighbouring countries, as well as some high quality produce made here in Laos such as milk, yogurt, bread, magazines, drinking water, rice and souvenir gifts.
It is still looking to further expand its Lao product range, which it hopes to source in the near future, but the products must be of good quality and have attractive packaging which features a barcode, as well as be refundable if expired stock is received.
