Thailand retail giant invested nearly 20,000 billion VND in Vietnam, expanding the real estate and non-food segments28/07/2022
Central Retail said it will invest majorly in the Vietnamese market with a capital injection of up to nearly 20,000 billion VND in the period 2022 – 2026 to dominate the retail market.
In a recent announcement, Thai retail giant Central Retail said it will continue to invest in the Vietnamese market with the ambition to dominate the retail segment.
Olivier Langlet, CEO of Central Retail Vietnam, said that the Thai group wants to become the number one omnichannel retailer in Vietnam, targeting more than 100 billion baht (more than 64,400 billion VND) in sales revenue in 5 years.
In particular, the company will focus on expansion plans for the real estate (the commercial center) and non-food sectors. A representative of Central Retail said that it will promote an investment package worth 30 billion baht (equivalent to more than VND 19,330 billion) in Vietnam in the next 5 years.
“In 2012, Central Retail started investing in Vietnam when the company realized the potential and strong business opportunities in the market. Vietnam is one of the key strategic markets of Central Retail, the company has achieved tremendous growth with revenue reaching over VND 24,800 billion in less than 10 years, accounting for 22% of Central Retail’s total revenue currently. now,” said Mr. Langlet.
During 10 years of joining, Central Retail has spread its brand name to 40 provinces and cities nationwide and has a customer base of more than 12 million people. Central Retail currently holds a 62% market share in Vietnam’s Hypermarkets.
Central Retail Vietnam has also built an omnichannel platform in the food sector, modeled on the success achieved in the Thai market, with omnichannel sales accounting for more than 8% of total sales. Central Retail Vietnam today.
With an investment of nearly VND 20,000 billion in the period of 2022 – 2026, Central Retail Vietnam has drawn up a plan in Vietnam with 4 main goals.
The first is to build a multi-channel platform, leading in the field of food and shopping mall business in Vietnam. Central Retail Vietnam will focus on expanding and consolidating business activities such as expanding food stores and enhancing GO! (a new brand of Big C).
Second, the Thai retail giant sets a business result of 100 billion baht (more than 64,400 billion dong); doubled the rate of revenue from omnichannel sales platforms to 15%, expanding investment from the current 40 provinces to over 55 provinces and cities in Vietnam, out of a total of 63 provinces.
In addition, Central Retail said it will drive new growth engines and seize new opportunities to expand its business base and customers, serving the lifestyles of consumers across Vietnam.
The company aims to seize M&A opportunities to accelerate market share expansion, targeting Vietnam as an important strategic location to supply raw materials and products to Central Retail in Vietnam. Thailand.
Central Retail Vietnam’s leaders promote the strategy of using Vietnamese workers as well as domestic agricultural products, and at the same time expand connections between Vietnamese and Thai exporters.