Thailand's Central Retail plans US$ 3b investment by 2026
Add BT as a preferred source
[BANGKOK] Thailand's Central Retail Corporation (CRC) said on Tuesday (Feb 8) it plans to invest 100 billion baht (US$ 3.03 billion) over the next five years to expand its retail businesses.
The South-east Asian country's biggest retailer also said in a statement it aims to boost revenue growth and market capitalisation by 2.5 times over the period.
CRC's five-year strategy includes expanding its online shopping platforms to bolster its food, fashion and other business lines, chief executive, Yol Phokasub, said.
The bulk of investment will be used for physical store expansion and upgrades, with the rest for technology, Yol told a virtual news conference.
"Online is not going to kill offline, but will complement each other," he said.
As part of plans for 2026, CRC is targeting boosting its EBITA (earnings before interest, taxes and amortisation) by 3.5 times.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
In the nine-months to September 2021, the company booked revenue of 136.8 billion baht and EBITA of 12 billion baht for an overall loss of 2.1 billion baht.
About 72 per cent of CRC's revenue is generated in Thailand and the remainder in Vietnam and Italy.
In December, its parent company Central Group, owned by the billionaire Chirathivat family, acquired luxury British store chain Selfridges with Austrian real estate firm, Signa Group, in a US$5 billion deal. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
