Central Retail continues to grow strongly with positive impact of the high season, as its revenue is expected to skyrocket

Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC, said, “Over the past nine months, Central Retail’s performance has continued to be positive in every channel – offline, online, and omnichannel. We are confident that the upcoming high season will further support the growth of our revenue, as purchasing power of Thai consumers has returned and foreign travelers visit Thailand more. The government also has stimulus initiatives like Shop Dee Mee Kuen to boost Thai people’s spending in the last quarter of the year, stimulating the Thai economy, thereby positively impacting the retail sector. Central Retail is confident that our revenue will grow significantly during this period, and that we will close the year 2022 with a 20% growth in revenue as expected.”

In the past nine months, Central Retail’s revenue has continued to grow, with key success of each business as per below:

  • New Strategy, New Format
    • Tops One Brand: Under a new strategy, Tops retail models are united under the brand “Tops”, and the brand image has been refreshed under the concept of  “Every Day Discovery”, reaffirming its position as the #1 food retailer in Thailand.   
    • Tops CLUB: The first flagship store in Thailand and Southeast Asia that offers imported and exclusive items from around the world, with more than 3,500 products. 
    • Tops Fine Food: Thailand’s first premium food store that brings together the best food and ingredients from the best sources around the world.
  • Continuous Launch of New Stores
    • Thai Watsadu: Two new Thai Watsadu stores opened in the third quarter of the year, namely Bang Saen and Nan, and two more in the fourth quarter, namely Mae Chan in Chiang Rai and Bang Bon in Samut Sakhon. By the end of 2022, there will be a total of 66 Thai Watsadu stores nationwide, with plans to add 8-10 more stores a year.
    • Robinson Lifestyle Shopping Center: A leader of shopping centers that targets families and serves as a lifestyle hub for everyone in the family, Robinson Lifestyle Shopping Center has recently opened a new store: Robinson Lifestyle Thalang, Phuket, which has been well-received by local customers. It is getting ready to launch a flagship store in Ratchapruek on November 17 to cater to families in Western Bangkok and future expansion of the city. By the end of 2022, there will be a total of 27 Robinson Lifestyle stores nationwide.
  • New Era of Central Department Store and Central Retail Vietnam
    • 75th Anniversary of Central Department Store: A major campaign has been organized to celebrate this special occasion under the concept “ALL AT CENTRAL”. On October 27, 2022, the annual flower festival returned, transforming Central Chidlom and Central @ centralwOrld into a flower paradise with millions of fresh flowers to thank its customers for their support over the past several years. Many stores have been renovated and well-received by customers. Additional plans are in place for further store expansion.
    • 10 Years in Vietnam: Central Retail is the biggest foreign retailer in Vietnam and the company has been recognized as the best in the retail industry for two consecutive years by Vietnam Report. This reaffirms Central Retail’s #1 position in hypermarket and its leadership in Vietnam’s lifestyle centers under the brand GO!. As result, Central Retail Vietnam’s growth has always exceeded its target a year.
  • Developing New Platforms
    • Elevating its platforms to become “Next-Gen Omnichannel” that connect offline, online and metaverse worlds together seamlessly, Central Retail’s platforms in Thailand, Vietnam and Italy focus on in-depth data analysis to ensure every customer can enjoy ultra-personalization in real time.

“Central Retail sees many positive signs from many factors, such as the lifting of COVID-19 restrictions, stable oil prices, more tourists in Thailand, Vietnam and Italy, and the government’s stimulus programs which have helped the business sector grow in every industry. The government also has measures to attract foreign investors to come invest in Thailand. These factors will certainly help the retail and service industries, as well as Central Retail, grow further,” said Yol.

Source: JC&CO Communications

Symbol: CRC