Wednesday, April 01, 2020

Central Retail earmarks Bt18 bn for expansion

Feb 28. 2020
Chief executive Yol Phokasub
Chief executive Yol Phokasub
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Central Retail Corp (CRC) will invest Bt18 billion in expanding its markets this year.

Its plans for each country are as follows:

• Thailand: Opening three Robinson Lifestyle branches, seven Thai Watsadu stores and three Baan and Beyond stores, as well as expanding its food and specialist outlets

• Vietnam: Opening another six Big C / Go stores, refreshing four others and expanding non-food businesses such as LookKool, Kubo and SuperSports

• Italy: Refurbishing stores in Florence and Rome, with the focus on leadership in the lifestyle luxury segment.

Chief executive Yol Phokasub said that, amid financial uncertainties posed by the global and Thai economic slowdown, the strong baht, the Covid-19 outbreak, reduced tourist arrivals and declining consumer confidence, CRC must exercise caution in its operations, closely monitor the issues and use technology to manage costs effectively.

CRC revenues grew 8 per cent last year to Bt222.7 billion and profits increased 11 per cent to Bt12.36 billion.

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