Massive expansion for Central Group Vietnam
In this article (5)
Thai retail conglomerate Central Group is planning to triple its Vietnamese businesses in the next five years.
With the planned investment of US$500 million, the retailer is expanding its stores and shopping malls in the country to as many as 750, along with new retail formats.
“We are very strong in Vietnam in food business which is the primary need of consumers, but we are also preparing for the future, for the needs consumers are going to have [beyond] food,” Central Group Vietnam CEO Philippe Broianigo said in Bangkok this week.
Central has already tested the market with its cosmetics retail concept Hello Beauty, DIY store Home Mart, and LookKool gift shop which has already expanded to 26 stores.
New shops will open within its Big C-anchored malls to draw in grocery shoppers, and will soon expand to other venues, according to Broianigo.
Established in July 2011, Central Group Vietnam has built its portfolio via acquisitions of electronics retailer Nguyen Kim, supermarket chain Big C and fashion e-commerce platform Zalora which was converted into Robins online.
Last year, sales grew by double digits, reaching $1.3 billion.
Questions & Answers
Q.What is the total planned investment for Central Group's expansion in Vietnam?
What is the total planned investment for Central Group's expansion in Vietnam?
Central Group is planning to invest US$500 million into its Vietnamese operations over the next five years. This investment aims to triple its businesses and expand its store footprint across the country.
Q.Which retail formats has Central Group already tested in the Vietnamese market?
Which retail formats has Central Group already tested in the Vietnamese market?
The company has tested several retail concepts, including the cosmetics store Hello Beauty, the DIY store Home Mart, and the gift shop LookKool. LookKool has already grown to 26 locations.
Q.What was Central Group Vietnam's sales performance last year?
What was Central Group Vietnam's sales performance last year?
Last year, Central Group Vietnam achieved double-digit sales growth, reaching a total of $1.3 billion. This figure reflects the strong performance of its acquired businesses.
Q.What is the targeted number of stores and shopping malls Central Group plans to have in Vietnam?
What is the targeted number of stores and shopping malls Central Group plans to have in Vietnam?
Central Group aims to expand its presence to as many as 750 stores and shopping malls within Vietnam. This expansion includes opening new retail formats alongside existing ones.
Reader pulse
Is Central Group's expansion strategy viable?
20,023 votes so far