Thai-based company King Food Group Co, owned by the Mahagitsiri family, announced its plans to enter the food market in Cambodia, Laos, Myanmar and Vietnam (CLMV), thanks to rising demand from middle-income people in the region, according to the Bangkok Post.
 

Ausanee Mahagitsiri, president of the group and the local operator of Krispy Kreme bakery chain, was quoted in the daily as saying that King Food would hold talks with the owners of all bakery brands in its portfolio, including Krispy Kreme, Cinnabon, Bulgogi Brothers and Pie Face to seek the rights to operate bakery chains in the CLMV market.
 

“These countries are promising markets due to the rise of middle-class people and their lifestyles have rapidly changed to welcome more fast food and bakeries,” she said.
 

At home, King Group said it would double its investment to 400 million baht (about $11.7 million) to open 22 branches under six bakery, food and juice brands this year.
 

Of the total, about eight will be under Krispy Kreme, four Cinnabon, three Pie Face, five Jamba Juice and two International House of Pancake.
 

Ms Ausanee said King Group is interested in expanding into the fruit and veggie juice sector because the market is valued 200 billion baht (about $5.8 million) and people were becoming more health conscious. 
 

“With all the expansion plans, King Food Group expects its sales to grow 40 percent to 1 billion baht ($29.3 milliion) by the end of the year.” 
 

Last year, the bilateral trade volume of Cambodia and Thailand was valued at $5.6 billion, a $100 million rise compared with 2015, according to figures provided by the Thai embassy in Cambodia. Thai exports to Cambodia last year were worth $4.7 billion while Cambodian exports to Thailand were valued at $936 million, a 46 percent increase compared with 2015.

Source From: Khmer Times