Central Group has plans to spin off the retail division
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Thai mall operator Central Group will list its Central Retail Corporation unit, combining retail businesses in Thailand, Vietnam and Italy.
The listing is scheduled to take place before the end of this year and the company expects it will raise between US$1 billion and $2 billion.
“We are reaching customers in new ways through physical and digital platforms,” said Central Group president Yol Phokasub. “The platforms are especially focused on personalisation, based on data from our 27 million customers worldwide.”
Central operates almost 2000 stores in Thailand. It runs 134 outlets in Vietnam under a variety of banners, and nine in Italy, trading as “Rinascente”.
The move follows the group’s acquisition of Zalora Thailand, as well as a joint venture with Chinese e-tailer JD and an investment in ride-hailing business Grab.
Central will also delist its Robinson Pcl subsidiary with a tender offer.
Questions & Answers
Q.Which retail businesses will be part of the Central Retail Corporation unit?
Which retail businesses will be part of the Central Retail Corporation unit?
The Central Retail Corporation unit will combine Central Group's retail businesses in Thailand, Vietnam, and Italy. These include almost 2000 stores in Thailand, 134 outlets in Vietnam, and nine Rinascente stores in Italy.
Q.What is the expected timeline and financial goal for this listing?
What is the expected timeline and financial goal for this listing?
The listing is scheduled to happen before the end of this year. Central Group expects to raise between US$1 billion and $2 billion from the Central Retail Corporation unit's listing.
Q.What recent strategic moves has Central Group made in its retail operations?
What recent strategic moves has Central Group made in its retail operations?
Central Group recently acquired Zalora Thailand, formed a joint venture with Chinese e-tailer JD, and invested in the ride-hailing business Grab. It also plans to delist its Robinson Pcl subsidiary.
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