TFP Retail Sdn Bhd, the operator of a chain of premium grocery stores like Village Grocer and Ben’s Independent Grocer (BIG) is expanding aggressively amidst inflationary pressure in the country.
TFP is planning to open 17 stores from now till mid-2024, which will increase its total store tally to 51. The group, which remains bullish about the grocery segment despite experiencing a business contraction in the first 3 quarters, is also considering the opening of smaller store format such as mini-markets.
TFP Group Executive Director Ivan Tan is optimistic of the retail business in 2023 as he expects consumers to return to normal spending patterns as lockdown restrictions are removed.
On the opening of the new stores, Tan said the focus will be in the Klang Valley near Selangor. However, for the mini-market format which range in size from 3,500-4,500 sq.ft, TFP is looking for expansion into 2nd tier cities such as Ipoh, Alor Setar, Melaka, Seremban and Kuantan.