Central Retail to invest VND20,000 billion in local retail market

The move represents part of the corporation’s objective to become the leading omni-channel platform in the field of food and trade, thereby doubling the revenue from omni-channel sales platforms to 15% and expanding its network across 55 provinces and cities nationwide.

Furthermore, Central Retail has aspirations of transforming and upgrading GO! shopping malls, launching its own-brand products, whilst developing a series of complex projects to grow the real estate portfolio.

The group will seek to seize upon M&A opportunities in order to accelerate business expansion, particularly as it views the nation as an important strategic location in which to maintain the supply source of raw materials and products to Central Retail in Thailand.

Langlet emphasised that the group regards the Vietnamese market as one of the key strategic markets, reaching a revenue of more than VND25,000 billion within a decade and accounting for 22% of the group’s total revenue.

Moreover, the group has successfully introduced famous retail brands in Thailand, namely Tops Market which has provided local consumers in both Hanoi and Ho Chi Minh City with new service experience.

In line with this business strategy, the Group has laid a foundation in which to help Central Retail hold a 62% market share in the hypermarket segment in the country.

Moreover, the expansion plan in the non-food business and trade centre and real estate fields are considered a key focus that has helped Central Retail to be recognised among leading foreign-invested retail enterprise in the Vietnamese market.

The group has also organised a wide range of events such as Thai Goods Week at Tops Market Vietnam, the Taste of Vietnam event in Thailand, along with several business networking events to connect SMEs and potential partners while promoting the development of import-export firms between the two countries to expand the distribution network, said Langlet.