Owner of Coffee World, Pizza Corner brands to open 20 more outlets GFA Corporation (Thailand) yesterday celebrated the opening of its 100th local store and plans to spend Bt100 million to open 20 more stores this year.GFA has several food brands including Coffee World, Pizza Corner, The Cream & Fudge Factory, The Donut Baker, Golden Pretzel and Conizza.

Chairman and CEO Fred Mouawad said its latest addition is Coffee World at Central Silom.
At present, 70 percent of its local stores are operates by GFA, while the rest are by franchisees. ‘For Thailand, we expect to have 200 branches in four years. At present, we have 205 stores worldwide and I expect to have 1,000 stores in the near future.’ Although the company sees Thailand as a fiercely competitive market, it has set aside Bt100 million to expand, while keeping revenue growth at 20 percent. ‘The key obstacle to expansion here is location,’ he said. ‘We have budgets for new stores but it’s very difficult to get a good location,’ he said.

GFA will set a marketing budget of Bt20 million for two months ending July. The company has also extended its multi-brand strategy to create a combination store, gathering its many brands in one venue to provide a variety of food items. At present, there are 10 combination stores across the country including Robinson Bangrak, The Esplanade and The Avenue Pattaya. The local market contributes 40 percent of GFA’s revenue. The remaining income comes from 10 other countries. Last year, its revenue grew 24 percent, thanks to its multi brand strategy. GFA plans to spend US$ 10 million (Bt315 million) this year to expand its overseas business.

The number of stores it can open will depend on its agents in respective countries, he said. GFA will open a store in Sudan by July. It sees the United Arab Emirates, India and the United States as potential markets.‘For Thailand, we expect to have 200 branches in four years. At present, we have 205 stores worldwide and I expect to have 1,000stores in the near future,’ he said. Mouawad said GFA would adjust prices by 10-20 percent in the next few months due to higher costs of items such as fresh milk and sugar.