Bangkok, 15 August 2022 – Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation or CRC stated, “After the reopening of borders in Q3 of 2021, Central Retail has achieved continuous growth to date despite the rising inflation, oil prices and interest rates along with the uncertainty of Covid-19. Amidst these challenges, Central Retail marched ahead with unwavering strength and stability, achieving leaping growth powered by its strong foundation and agile DNA that has enabled the company to quickly adapt through every challenge. Along with the CRC Retailligence strategy, the company has successfully achieved its short-term and long-term goals and remains confident that it will exceed its sales growth target of 15-20% by the end of 2022. Most recently, Central Retail revealed its Q2 performance with a revenue of THB 56,826 million (+23% YoY) EBITDA THB 6,912 million (+69% YoY) and a net profit of THB 1,605 million (+477% YoY). In terms of sales performance by business category, the food category accounts for 39% of total sales, the hardline category accounts for 36% and the fashion category accounts for 25%. As for omnichannel performance, it has achieved double-digit growth accounting for 17% of total sales. Store and mall traffic within the group has also significantly surged with sales returning to the equivalent of the pre-Covid era although the number of international tourists has not fully returned.
In terms of by country growth, Central Retail Vietnam has achieved leaping growth since 2012 when Central Retail started operating its business in Vietnam. This September will mark 10 years of success of the Central Retail Vietnam, which is now the number one hypermarket and lifestyle retailer under the brand GO! as well as the largest foreign retailer in Vietnam. Moving forward, the company aims to be the number one omnichannel platform in food and property segments in Vietnam within the next five years, along with growing sales targets to THB 100,000 million, doubling omnichannel sales to 15% and expanding business across 55 of 63 provinces. Central Retail will be investing in growth across the nation, including expansion of food stores, the modernisation of GO! Malls, the development of mixed-use projects to strengthen the property segment, along with the enhancement of omnichannel platforms to serve the needs of customers in Vietnam.
For the second half of 2022, Central Retail focuses its efforts on expansion and investments with plans to launch new business models across all business segments in three markets:
1. Food category
- Launch Tops CLUB, a new business model in Thailand that curates over 3,500 imported products and global brands available at an exclusive membership price to serve the needs of consumers with high spending power. The flagship Tops CLUB store will launch its first branch at the end of September in Rama 2. Customers can download the Tops CLUB Application today at http://topsclub.app.link
- Launch two additional Tops standalone branches after achieving resounding success at Tops market Phattanakarn 30 and Tops Food Hall Sukhumvit 39
- Reinforce leadership as the urban supermarket in Vietnam by launching two additional Tops market branches in Ho Chi Minh City and two additional go! supermarket branches in Baria and Binh Duong. By the end of 2022, Vietnam will have a total of 10 Tops market branches and four go! supermarket branches.
Tops CLUB Rama 2 to launch at the end of September 2022
2. Fashion category
- Launch two additional Robinson department stores in Thalang (Set to open on 25 August 2022) and Ratchapruek (Set to open in October), which totals to 51 Robison department store branches by 2022
- Renovate four Central Department Stores, including Rama 2, Lat Phrao, Chidlom and Ram Inthra
- Renovate two branches of Rinascente in Italy, including Milan, Rome and Fiume
Renovate Central Chidlom
Renovate Central Lat Phrao
Robinson Thalang set to open August 25 and Robinson Ratchapruek set to open in October
Renovate Rinascente department stores in Milan, Rome and Fiume
3. Hardline category to launch eight additional Thai Watsadu and Thai Watsadu x BnB Home hybrid formats, including locations in Bangsaen, Nan, Bang Bon, totalling 67 Thai Watsadu branches by 2022
Thai Watsadu x BnB Home Hybrid Format Bangsaen branch launched on August 5
4. Property category
Launch two additional Robinson Lifestyle branches, including Thalang (Set to open August 25) and Ratchapruek (Set to open end of October), totalling 27 Robinson Lifestyle branches by the end of 2022
Robinson Lifestyle Thalang set to open August 25
Robinson Lifestyle Ratchapruek set to open in October
- Launch the new format of go! lifestyle shopping mall in rural provinces for the first time in Thailand. The shopping mall serves everyone in the family and the lifestyles of every generation, featuring a hypermarket housing high quality and accessible products across fashion, beauty, and food, & Joy an international restaurant and new hangout spot offering quality food at accessible prices, Sunday the large-scale indoors playground with the largest amount of equipment in the district for children to unlock their imaginations, go! Wow variety store offering home and lifestyle products and go! Power the electronics store with instalment payment options and speedy credit approvals. go! will launch its first branch this August and is set to launch a total of four branches in Nakhon Si Thammarat by the end of 2022.
go! mall is set to launch its first branch in Nakhon Si Thammarat this August
“Our success in 2022 is a testament to our strategy’s strong potential, and our journey forward is about building on what we have achieved. Although there are still many challenges and pressures ahead, we are confident that we can rise above these uncertainties with our strong financial management, prudent investments, business expansion, and adaptations of our business models to the current market situation. We are also constantly finding collaboration opportunities with new partners to drive inclusive growth. These actions will allow us to march ahead with our business expansion plans in Thailand, Vietnam and Italy to exceed our sales target of 15-20% by year end, and reinforcing our leading position as the retailer of the future,” concluded Mr. Yol.