Central Retail Corporation, Thailand’s biggest retailer, recently revealed plans to invest THB 100 billion (USD 3 billion) over the next five years to expand its retail businesses. The retailer also announced that it aims to boost revenue growth and market capitalization by 2.5 times over the period.
Central Retail Corporation’s chief executive highlighted that the company’s five-year strategy includes expanding its online shopping platforms to bolster its food, fashion and other business lines. The majority of the investment will be used for physical store expansion and upgrades, with the rest of the funds allocated for digital technologies.
In addition, the retailer aims at increasing its EBITA (earnings before interest, taxes and amortization) by 3.5 times by 2026. In the nine months to September 2021, the company registered revenue of THB 137 billion (USD 4 billion) and EBITA of THB 12 billion (USD 360 million). About 72% of CRC’s revenue is generated in Thailand and the remainder in Vietnam and Italy. In December 2021, its parent company Central Group acquired luxury British store chain Selfridges with Austrian real estate firm, Signa Group, in a USD 5 billion deal, expanding the group’s overseas portfolio.
(Sources: Nikkei Asia; Reuters)