Retail/Central Retail

Editorial staff

SET-listed Central Retail reported revenue in the first quarter of 2024 hit 67.25 billion baht, an increase of 6% year-on-year, and remains committed to the continued growth of the group businesses with new store openings.

Yol Phokasub, CRC's chief executive officer, said Central Retail kicked off the year with sustained growth, with first-quarter revenues of 67.25 billion Baht (6% YoY) and core profit of 2.52 billion baht (14% YoY).

Sales through omni channel platforms accounted for 19% of total sales, indicating growth driven by Central Retail’s strong ecosystem and the flexible portfolio.

Central Chidlom, also known as "The Store of Bangkok," has undergone remarkable transformation with an investment of over 4 billion baht, aiming to elevate itself into a World Class Luxury Destination.

This one-stop-shopping boasts an impressive collection of luxury brands that capture interest from customers both in Thailand and across the globe.

CMG (Central Marketing Group), a subsidiary of the Central Brand & Specialty group, has obtained the distribution rights for Paul Smith, the iconic British luxury fashion brand.

B2B/B2C Category- GO Wholesale – within 7 months of market launch, GO Wholesale has successfully opened 7 branches, highlighting its position as the ‘King of Fresh’, which has been well-received by customers of all groups.

The brand's success is attributed to its understanding of customer needs. There is a plan to open four more branches in the second half of the year, GO Wholesale is expected to end the year with a total of 11 stores across Thailand.

Thaiwatsadu reinforces its position as Thailand's number one Omnichannel DIY Home Retailer, expanding its presence to 100 branches nationwide.

This year, Thaiwatsadu is accelerating its expansion with the launch of 9 additional branches and the re-modelling of flagship stores in Bangna and Bang Bua Thong into hybrid stores..

Moreover, Thaiwatsadu private label products have gained increasing popularity, now accounting for 18% of total products sold within the store.

Central Retail reaffirms its position as Vietnam's no.1 mall and hypermarket expanding its GO! malls and GO! hypermarkets by 3 branches this year.

Moreover, they will renovate their flagship stores in Hanoi and Ho Chi Minh City, which are expected to be completed by the end of 2025. Furthermore, Central Retail saw positive results from its renovation of 8 GO! malls last year that led to a 12% increase in rental income.

Additionally, Central Retail has expanded its business into the lifestyle and fashion sectors by becoming the Brand Distributor for world-renowned brands such as Dyson, Crocs, and FitFlop.

This move is aimed at catering to the growing demand for lifestyle products among high-income earners, millennials, and the increasing number of international tourists in Vietnam.

"These remarkable achievements are from Central Retail's robust business strategy anchored in the concept of Leading Excellence and Advancing Sustainability. Central Retail remains committed to the continued growth of our group businesses, striving to deliver the best possible experiences to our valued customers and stakeholders across Thailand, Vietnam and Italy,” said Mr Yol.