Thai retail giant to invest $1.1 bln for expansion in Vietnam
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Thailand’s Central Retail Corporation plans to invest $1.1 billion in Vietnam in the next five years to expand its stores network.
It said Vietnam’s wholesale and retail sector grew 7 percent year-on-year in the last quarter of 2020, and growth is likely to be strong this year, making it one of the most attractive markets in the world.
Philippe Broianigo, CEO of Central Retail Vietnam, said the five-year plan would focus on multi-sector and multi-platform development.
The company opened four shopping centers last year in central and southern Vietnam, and renamed five Big C supermarkets as “GO!”.
It plans to invest $211 million for expansion this year, opening stores in the northern provinces of Thai Nguyen, Thai Binh and Lao Cai and the southern provinces of Ba Ria-Vung Tau and Tay Ninh.
Over nine years in Vietnam, foods have proven to be a key product for Central Retail, contributing 70 percent of its revenues.
With 37 shopping centers and 230 stores in 37 cities and provinces, it serves an average of 175,000 customers a day.
Questions & Answers
Q.What is Central Retail Corporation's total investment plan for Vietnam over the next five years?
What is Central Retail Corporation's total investment plan for Vietnam over the next five years?
Central Retail Corporation intends to invest $1.1 billion in Vietnam during the next five years. This investment aims to expand its network of stores across the country, focusing on multi-sector and multi-platform development.
Q.Which product category has been most significant for Central Retail's revenue in Vietnam?
Which product category has been most significant for Central Retail's revenue in Vietnam?
Foods have proven to be a key product category for Central Retail in Vietnam. Over nine years, foods have contributed 70 percent of the company's total revenues, highlighting their importance to the business.
Q.How many shopping centers and stores does Central Retail currently operate in Vietnam?
How many shopping centers and stores does Central Retail currently operate in Vietnam?
Central Retail currently operates 37 shopping centers and 230 stores across 37 cities and provinces in Vietnam. These outlets collectively serve an average of 175,000 customers daily.
Q.In which provinces does Central Retail plan to open new stores this year?
In which provinces does Central Retail plan to open new stores this year?
This year, Central Retail plans to open new stores in the northern provinces of Thai Nguyen, Thai Binh and Lao Cai. Also, new locations are planned for the southern provinces of Ba Ria-Vung Tau and Tay Ninh.
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