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Thailand's Central Retail set to invest $1.1B in Vietnam over next five years

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Customers shop at a GO! hypermarket. Thai retailer Central Retail Corporation has unveiled a five-year plan to invest 35 billion baht ($1.1 billion) to expand its footprint in Vietnam. CENTRAL RETAIL VIETNAM/VIET NAM NEWS
Thailand’s Central Retail set to invest $1.1B in Vietnam over next five years
Mon, 5 April 2021
Thai retailer Central Retail Corp (CRC) has unveiled a five-year plan to invest 35 billion baht ($1.1 billion) to expand in Vietnam.
CEO Yol Phokasub said: “Throughout CRC’s nine years of operations in Vietnam, food has remained a significant category, contributing approximately 70 per cent of total revenues. The company [now] aims to solidify the non-food category and enhance its omnichannel platform.” ....

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$1.1 billion going to pour into Vietnam"s retail market

Central Retail Corporation from Thailand has drawn up ambitious plans for the next five years in VietnamÂ
With a target of further expanding its footprint in Vietnam as a high-potential market, Thailandâs Central Retail Corporation (CRC) has come up with a five-year plan with an investment value of approximately THB35 billion ($1.1 billion) to cover 55 cities and provinces nationwide.
Yol Phokasub, CEO of CRC, revealed in a statement in early April that CRC is forging on with business expansion in Vietnam. âThanks to strong collaboration from all sectors, Vietnam has emerged from the COVID-19 pandemic with a GDP growth rate of 2.91 per cent, the lowest growth for the market but still positive growth while most other countries reported an average 4.4 per cent reduction. Vietnamâs economy is predicted to bounce back to 6.8 per cent in 2021,â he said. ....

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Thailand's Central Retail set to invest $1.1B in Vietnam over next five years

Thailand's Central Retail set to invest $1.1B in Vietnam over next five years
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CRC shows confidence in 2021 business plan foreseeing more than 10% sales growth ready to pay dividend of 0.40 baht/share

Yol Phokasub, Chief Executive Officer, Central Retail Corporation Public Company Limited (CRC), said that Central Retail showed fast V-shape recovery with performances in the third and fourth quarter of 2020 continued to grow strongly. The company posted the fourth quarter of 2020’s revenue of 51,077 million baht, QoQ +7% with profit of 1,102 million baht, QoQ +27%. Central Retail therefore, recorded the total revenue of 194,311 million baht (down 13%) and posted the net profit of 341 million baht (down 97%) in 2020 with the total sale growth of 180% from its omnichannel platform, contributed to 10% of the total sale revenue. Central Retail is also ready to pay the dividend of 0.40 baht/share, with the confidence that the company will see up to 10% sales growth in 2021. ....

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CRC flourishes early this year, closing COL deal kicking off 1st project -

Central Retail Corporation Public Company Limited (CRC) closed its deal to acquire the business of COL Public Company Limited (COL) on 22 February 2021. The 12.16-billion-baht acquisition will help enhance competitiveness in the hardline segment of Central Retail. The company also boasted its position as the market s first mover by launching the new concept store, B2S Think Space , at Central Chidlom, as the exciting landmark that caters for all lifestyles of customers of the new generation.
Yol Phokasub, Chief Executive Officer, Central Retail Corporation Public Company Limited, said, Central Retail s acquisition of COL is an important move to further strengthen the retail comprehensiveness of Central Retail. COL has been the established leader in the business of office supplies, books, entertainment media, lifestyle products and e-books under the brands of OfficeMate, B2S and meb e-book with numerous sales channels namely stores, websites, Line Store, Drive Thru, Call Cent ....

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