This is the third time for tycoon Charoen Sirivadhanabhakdi to beef up his retail business after losing the bid to acquire Carrefour Hypermarkets and Family Mart convenience store over the past couple of years.

The move will also be in line with Charoen”s policy of integrating upstream with downstream to make his business more sustainable, said BJC president Aswin Techajaroenvikul.

"If the company can seal the deal with a prominent local retail group in Vietnam, then its distribution network would be enlarged to 200,000 outlets across Vietnam, from 50,000 now,” he said.

Moreover, annual sales of the company”s consumer products in that country are expected to jump by 150 percent to 5 billion baht.

Aswin said this is because its products can be sold more through the additional distribution network, and the company can add further products to the distribution line.

"There is a huge opportunity to grow consumer products in Vietnam. If the deal is sealed, then it will fulfil our aspiration of becoming the leading distributing firm for consumer products in Vietnam,” he said, adding that the company”s next step will be to expand its retail business in Asean.

BJC currently has a glass manufacturing plant and a tissue paper factory in Vietnam and a 300-strong sales force.

Despite failing to acquire a stake in Family Mart convenience stores in Thailand, BJC is considered a big player in the retail industry, as it employs more than 50,000 staff in the sector.

"We never give up,” said Aswin.

He said the intention to have its own retail operation in Thailand remains strong, as such a business would support sales of BJC”s consumer products.

BJC has produced and distributed consumer products for 130 years.

Annual sales of 10 billion baht are expected, 90 percent from its own brands.

Aswin said lacking its own retail space has been hard on the firm, as many retailers also have their own consumer products.

Besides, putting out products adds further costs for fees and promotions, he said.

Aswin said BJC is also in talks with a Japanese pharmacy chain in the Thai market.

This will come under one of two options _ know-how buying or setting up a joint venture.

The pharmacy business has good potential in Thailand thanks to the small number of players, he said.

Currently, BJC registers 4 billion baht from pharmaceutical sales.

BJC closed yesterday on the Stock Exchange of Thailand at 46.75 baht, down 25 satang, in heavy trade worth 1.12 billion baht.