Bangkok, August 15, 2024 – Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC, stated, “Central Retail continues to show strong and steady growth.
In the first half of 2024, we achieved a revenue of THB 130,424 million (+6% YOY) and a net profit of THB 3,830 million (+3% YOY). In the second quarter of 2024, growth continues with a revenue of THB 63,169 million (+5% YOY) and a net profit of THB 1,660 million (+6% YOY). This success is the result of the CRC OMNI-Intelligence vision, which drives strong growth, combined with a flexible and adaptive ecosystem, alongside the expansion of our core business portfolio covering Thailand, Vietnam, and Italy.”
For the second half of 2024, Central Retail is confident in accelerating its business as planned, with strategies to build a sustainable business equipped to support the high season and the increasing number of tourists expected in the second half of the year.
- Strengthen the sports category by fully entering the Performance Sports business through the acquisition of a 75% majority stake in Rev Edition, which oversees 3 core business functions:
- Exclusive Brand Distributor for leading sports performance and lifestyle brands such as Hoka, Saucony, and Teva.
- Retail Network with over 150 branches, including Rev Runnr (the No.1 Running Specialty Store) and various brand stores managed by Rev Edition in Thailand and Malaysia, with plans to open the first branch in Singapore in 2025.
- Running Sport Community that enhances capabilities and empower millions of runners across Thailand to improve their running skills and performance through participation in various running events and activities.
This acquisition of Rev Edition will strengthen Central Retail’s sports business group and further establish Supersports as an end-to-end leader in the sports industry. Central Retail is confident that working together with Rev Edition will drive mutual growth and reinforce its position as the No. 1 leader in running shoes in Thailand.
Rev Runnr – No.1 Running Specialty Store
- Develop core business through the expansion of new branches and the renovation of existing ones.
Thailand
- Renovate Central Chidlom into a World Class Luxury Destination with the successful launch of new zones such as Luxe Galerie and Beauty Galerie, which have received positive feedback. The official Grand Opening of the newly transformed Central Chidlom is scheduled for the end of this year.
- Reinforce position as the No. 1 Omnichannel DIY Home Retailer by expanding Thaiwatsadu with 4 additional branches, bringing the total to 89 branches by the end of the year. The company is also accelerating expansion of GO Wholesale with the additional of 3 more branches, resulting in a total of 10 branches across Thailand by the end of this year.
- Enhance Supersports, the No. 1 multi-brand sports retail business in Thailand, by launching its new look at Central Chidlom. This upgraded store is the only ‘Complete Sports Store’ in Thailand and features the largest sport performance footwear in Thailand, offering diverse brands and services to enhance the shopping experience under the concept of “Move You, Move Sports” on a larger scale.
The largest sport performance footwear in Thailand at the newly revamped Supersports, Central Chidlom branch
Vietnam
- The economy has been steadily recovering, with GDP reaching 6.9% in the second quarter and Vietnam also approving various projects to support economic expansion. In line with these movements, Central Retail is preparing to expand both GO! shopping centers and GO! hypermarkets with 3 additional branches this year, bringing the total to 42 branches by the end of the year. Additionally, two major branches, Thang Long in Hanoi and Dong Nai in Ho Chi Minh City, are set to undergo renovations in preparation for the Tet Festival (Vietnamese Lunar New Year) early next year.
3. Drive sales growth across all channels whilst continuously enhancing omnichannel platforms to comprehensively serve customer needs by focusing on quality products, variety and the best services. Currently, omnichannel sales account for as much as 19% of total sales, with continous profitability.
4. Manage business cautiously during economic volatility with a Resilient Ecosystem and the 3C strategy: Cost – managing costs and expenses with maximum efficiency, Capex – focusing on investments that bring the highest benefits to strategic businesses, and Cash Flow – expanding the ability to manage working capital with flexibility. This management approach has enabled Central Retail to maintain its corporate credit rating at “AA-” with a “Stable” outlook from TRIS Rating for 2 consecutive years.
5. Empower employee capabilities with AI and various technologies through the HAI (Human Intelligence + Artificial Intelligence) strategy to elevate work efficiency and speed, fostering an improved quality of life for all employees and driving sustainable growth for the company.
“In addition to continuous growth in performance during the first half of the year, Central Retail has also been recognised as a global leader in the retail and wholesale business, evidenced by winning prestigious awards both domestically and internationally across all business aspects. Moreover, Central Retail has been ranked 2nd amongst retail companies in Southeast Asia in the ‘FORTUNE Southeast Asia 500’ ranking, which is a source of great pride for the organisation and all employees,” Mr. Yol concluded.
###
About Central Retail
Central Retail Corporation Public Company Limited or Central Retail is the leading multi-format, multi-category retailing platform in Thailand. It is also growing internationally, securing leadership status in Italy and becoming one of the leaders in Vietnam.
It has a network of 3,744 sales counters (as of 30 June 2024) such as department stores, specialty stores, supermarket, hypermarket, wholesale, and retail plaza. Central Retail’s business is organized into 5 operating segments based on business units;
(1) Food, which focuses on groceries and items typically found in convenience stores, supermarket and food wholesale stores under portfolio of retail and wholesale banners, for example, Tops, Tops Food Hall, Tops Fine Food, Tops Daily, GO wholesale, Big C / GO! and Tops market in Vietnam, go! in Vietnam and Lan Chi Mart Vietnam
(2) Hardline, which focuses on electronics, home improvement, stationery, office equipment, book, and e-Book under portfolio of retail banners, for example, Thai Watsadu, BNB home, Power Buy, OffliceMate, B2S, MEB, and Nguyen Kim;
(3) Fashion, which focuses on apparel and accessories under portfolio of retail banners, for example, Central Department Store, Robinson Department Store, Rinascente Department Store, Supersports, and Central Marketing Group;
(4) Property, which focuses on leasing retail property to third parties and to its own stores at retail plazas, for example, Robinson Lifestyle, Tops Plaza, and Big C / GO! Vietnam and
(5) Health & Wellness, which focuses on health products and services for both people and pets, for example, Tops Care, Tops Vita and PET ’N ME. As of 30 June 2024, Central Retail has a presence in 3 countries: comprising of 61 provinces in Thailand, 42 provinces in Vietnam and major cities across Italy.
For more information, please contact
Central Retail Corporation Public Company Limited:
Chanika Jirapongwattana
Tel: 089-899-9988 jichanika@central.co.th
Davissa Tangoub
Tel: 084-006-6771 tadavissa@central.co.th
– JC&CO COMMUNICATIONS –
Warattha Saiopas / 098-224-2626 / waratthas@jcco.co.th
LINE OFFICIAL: @jccothai
Salman Ahmad is known for his significant contributions to esteemed publications like the Times of India and the Express Tribune. Salman has carved a niche as a freelance journalist, combining thorough research with engaging reporting.
