On May 13, Midea International Business and CP AXTRA, a retail subsidiary of Thailand's Charoen Pokphand (CP) Group, held a signing ceremony at Midea's headquarters to formalize a Memorandum of Understanding (MoU). The collaboration aims to expand Midea's home appliance business in Thailand through CP AXTRA's omnichannel and B2B platforms, including the warehouse supermarket chain Makro and the retail chain Lotus's. The event was attended by Lewis Fu, President of Midea International Business, Tanit Chearavanont, CEO of CP AXTRA and representatives from both teams.
Under Thailand's CP Group, CP AXTRA is the Thailand's No.1 Retailer with 305+ large stores nationwide, 4 million B2B customers, 23 million B2C members and 4 million monthly active online users.
The strategic partnership holds significant potential. The two companies will collaborate on localized product development, tailoring home appliances to meet the needs and preferences of Thai consumers.
Joint marketing campaigns and cross-promotions will further enhance Midea's brand presence and market influence in Thailand. Additionally, Midea will leverage CP AXTRA's extensive distribution network to optimize retail operations and improve service quality, ensuring a superior shopping and after-sales experience for customers.
With e-commerce on the rise, both parties plan to expand their online market through platforms like Makro Pro, Lotus's Online, and the Amaze Super App, covering diverse shopping scenarios for Thai consumers.
Lewis Fu, President of Midea International Business, said:"By combining CP AXTRA's robust retail resources and channel influence in Thailand, we aim to deliver smarter and more convenient home living experiences.
Midea will leverage its local manufacturing strengths and work closely with our partner to drive innovative applications of our full product portfolio across multiple scenarios.
We believe this collaboration will not only deepen Midea's footprint in Southeast Asia but also redefine the connection between home appliances and consumers, ushering in a new era of 'demand-driven innovation.'"