Central's Power Buy partners with Nguyen Kim

After the acquisition, Central Group’s subsidiary Power Buy holds 49 per cent of the shares and Nguyen Kim Trading Joint Stock Company’s existing shareholders have 51 per cent, Central reported. Central Group believes that the partnership will enable Nguyen Kim to continue its expansion in Vietnam and allow Power Buy to become the leading electronics retailer in Asean.
“Central Group and Power Buy are pleased to announce the joint venture with Nguyen Kim Trading Joint Stock Company, the leading electronics retailer in Vietnam,” said Tos Chirativat, chief executive of Central Group. “This partnership is part of Central Group’s international expansion strategy where Vietnam [is] our key market in the Asean region. “This investment will pave the way for Power Buy to expand its electronics retailing business into Vietnam through Nguyen Kim with its network of 21 [outlets] across Vietnam.”
Central Group started investing in Vietnam in 2013 under “Robinson Department Store (Vietnam) Joint Stock Company” to operate department stores under the Robinson banner, which recently launched its first outlet in Royal City, Hanoi, and the second one in Crescent Mall, Ho Chi Minh City.
Central Group also operates its sports retailing network through Supersports, Crocs, New Balance and other fashion brands with more than 60 stores and counters across Vietnam. The Thai company’s investments in Asean also include Malaysia through Central Marketing Group’s acquisition of a fashion-distribution company, HCH Industries, which has more than 500 branches.