BANGKOK -- The retail arm of Thailand's state-owned energy giant PTT, PTT Oil and Retail Business (PTTOR) plans an overseas expansion for an entirely different kind of fuel, as the group looks to more than triple the number of overseas shops in its Cafe Amazon coffee chain to 1,000 by 2025.
The chain currently has 298 locations outside of Thailand. PTTOR aims to ink franchise agreements with established food and beverage operators to add more coffee shops abroad.
The company will provide support in areas such as marketing and localizing menus. A team of experts has been established to advise on franchise development. The goal is to have Cafe Amazon generate $1 billion in sales by 2025.
PTT Oil and Retail Business, the group company that operates Cafe Amazon, has adopted "retailing beyond fuel" as its new slogan. More than 90% of the company's revenue last year came from the oil business, which is mostly concerned with running filling stations.
Cafe Amazon debuted in 2002 as the brand for coffee shops inside PTT gas stations. The business has grown to become the sixth-largest coffee chain worldwide, with 3,432 locations in Thailand alone as of June.
There are Cafe Amazons in 10 countries, including seven Southeast Asian nations as well as China, Japan and Oman. PTT Oil and Retail listed on the Stock Exchange of Thailand in February.