Central Group Thailand eyes Turin retailer
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Thailand’s Central Group says it’s planning to open a brand new division retailer within the Italian metropolis of Turin inside the subsequent two years.
Central Group Thailand is already engaged in a gentle worldwide enlargement plan, having final yr opened its first division retailer in Indonesia and this yr having confirmed it’s in negotiations to purchase an unidentified German division retailer.
Tos Chirathivat, the group’s CEO, was quoted by the Bangkok Submit newspaper saying the corporate is negotiating the rental of 10,000sqm in an undisclosed Turin website the place it’s going to open a La Rinascente division retailer. Central owns 11 La Rinascente department shops in Italy and has a 12th underneath development in Rome, which might make Flip its 13th location.
Central Group Thailand additionally owns the Illum retailer in Denmark, at present underneath renovation.
Tos informed the Bangkok Submit La Rinascente gross sales grew 13 per cent to euro 600 million within the first quarter of this yr. About one third of the gross sales are to vacationers, largely Chinese language.
Questions & Answers
Q.What is Central Group Thailand's overall strategy regarding international expansion?
What is Central Group Thailand's overall strategy regarding international expansion?
Central Group Thailand is engaged in a steady international expansion plan. This includes opening a store in Indonesia last year and negotiating to buy a German department store, in addition to its Italian operations.
Q.Which specific brand will Central Group Thailand be opening in Turin and where does this fit into their existing portfolio?
Which specific brand will Central Group Thailand be opening in Turin and where does this fit into their existing portfolio?
Central Group Thailand will open a La Rinascente department store in Turin. This would be their 13th La Rinascente location, adding to their existing 11 stores in Italy and a 12th currently under development in Rome.
Q.How have La Rinascente's sales performed recently, and what is a significant contributor to these figures?
How have La Rinascente's sales performed recently, and what is a significant contributor to these figures?
La Rinascente's sales grew by 13 per cent to €600 million in the first quarter of this year. Tourists, predominantly Chinese, account for approximately one-third of these reported sales.
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