Riich Express eyes major expansion through franchising
RIICH Express Co Ltd, which operates mini-marts and mobile marts, has announced plans to expand operations by selling franchises to partners.
The goal is to reach 100 minimart locations and 300 mobile marts by the end of the year.
CEO Leng Kerry told The Post on Monday that the company currently has 15 mini-marts and 20 mobile marts in Phnom Penh.
He said the improvement in economic growth, an increase in demand and a shift in the attitude of the Cambodian consumers towards shopping in supermarkets are the main reasons for the decision.
Riich Express is a small supermarket or convenience store equipped with state-of-the-art technology such as EPOS (eCommerce Point of Sale) and eCommerce technology that enables the business to run online and offline sales, he added.
“Our supermarket and mobile mart is a new business model that is unique and leading in the Cambodian market.
“Our business is equipped with a state-of-the-art business management system that can handle both online and offline transactions. The company’s vision in 2020 is to build 100 mini-marts and 300 mobile marts across Cambodia,” Kerry said.
He said Riich Express’ business model serves to generate revenue for the business community, with about 30 per cent of the products sold in its mini-marts comprising local products conforming to hygiene and high-quality standards.
It a lso stocks imported products and many well-known brands, he said.
Riich Express is now collaborating with Singapore’s Riich Me Co Ltd on technical aspects, system design, technology, sales promotion and operational management, he added.
“Riich Express is actively working with the government to promote Industry 4.0 in Cambodia by developing traditional businesses into digital businesses to boost sales, increasing household incomes and expand the business to partners,” Kerry said.
Ung Phalla, general manager of the Piaggio unit of RMA (Cambodia) Plc which supplies the firm with vehicles, said the Riich Express brand of mobile marts will be a major driver of sales and distribution in the capital’s suburbs and in remote areas.
“The company will strive to develop the exterior design and security systems to be strong and durable and contribute to Riich Express in creating jobs for people,” he said.