Thailand’s Central Retail set to invest $1.1B in Vietnam over next five years
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.”
“The omnichannel platform will include online sales, e-commerce, quick commerce, social commerce [chat & shop], hotlines, and ‘click and drive’ services.”
Central Retail Vietnam CEO Philippe Broianigo said: “CRC has set up a five-year road map with the key focus on expanding multi-concept penetration in all clusters across city centres and suburban and rural areas, revamping brands in the food category for better synergy and enhanced customer experience, building brands in non-food categories, and developing the omnichannel platform.”
Last year, the company opened four GO! malls in Tra Vinh, Quang Ngai, Buon Ma Thuot, and Ben Tre provinces; rebranded Big C to GO! and opened the first go! supermarket in Quang Nam province.
This year it continues its expansion with an investment
of six billion baht.
It will open four GO! malls in Thai Nguyen, Ba Ria, Thai Binh, and Lao Cai provinces, and one go! mini supermarket and change 15 Big C to eight GO! hypermarkets and seven Tops Market, and further diversify its non-food
business.
Its long-term plan is to expand to 55 provinces nationwide within five years.
It currently gets an average of 175,000 customers a day in to its 37 malls and over 230 stores across 39 provinces.