SAN FRANCISCO, March 17, 2011 /PRNewswire/ -- Furthering its strategy to become the biggest mid market department store retailer in Thailand, Robinson Department Store PCL ("Robinson") (SET:ROBINS), a portfolio company of Lombard Investments, Inc. ("Lombard"), launched an expansion program it describes as "Lifestyle Retailing", targeting Thailand's provincial markets. To implement this new strategy, the Company will spend $130 million opening seven new outlets by the end of 2012.
Robinson's first Lifestyle center debuted in November 2010 and has exceeded expectations with double-digit sales growth each month since opening. Currently, Robinson operates fourteen large department stores in Thailand's provinces and nine in Bangkok, and by the end of 2012, it will have 30 locations nationwide. Robinson's president, Preecha Ekkunagul, said, "There is high potential to open more stores upcountry. Moreover, it is possible to open at least one Robinson department store in each of Thailand's seventy-five provinces over the next 10-20 years."
Pote Videt, Managing Director of Lombard, said, "Robinson's dramatic growth over the past two years supports our original investment thesis that the purchasing power of consumers outside of Bangkok would rise significantly. Robinson's new multi-year growth plan is well designed to capture this market."
About Robinson Department Store PCL:
Established in 1979, Robinson develops and operates modern, world-class department stores, under its own name, targeting budget-conscious, middle class consumers throughout Thailand. At present, the Company owns 23 stores that offer innovative retailing formats and services to best suit its customers' lifestyle.
About Lombard:
Lombard is a leading international private equity investment manager with offices in Bangkok, Hong Kong and San Francisco, and extensive working relationships in Ho Chi Minh City, Manila, Shanghai and Taipei. Formed in 1985, Lombard has made more than 90 early stage, minority growth and control investments in Asia and North America. The firm's investors include some of the world's largest and most respected financial institutions, major pension funds and corporations, as well as family offices in Asia, Europe and North America. Lombard made its investment in Robinson through Lombard Asia III, the firm's South East Asia private equity fund. (www.lombardinvestments.com)
More information is available by contacting:
Mr. Thomas Smith Mr. Pote Videt Managing Director Managing Director Email: tsmith@lombardinvestments.com Email: pote@lombardinvestments.com
Lombard
CONTACT: Mr. Thomas Smith, Managing Director,
tsmith@lombardinvestments.com, or Mr. Pote Videt, Managing Director,
pote@lombardinvestments.com, both of Lombard
Web site: http://www.lombardinvestments.com/
