Food
Thailand’s Central Retail plans to double more than the number of its stores in Vietnam from the current 340 to 710 by 2026 to capitalize on a growing market.
The main retail arm of Thai conglomerate Central Group will spend 30 billion baht (US$790 million) for the expansion, which it hopes will make it Vietnam’s biggest food and property retail platform.
“We always put ourselves in the center of consumers’ lives,” Olivier Langlet, CEO of Central Retail Vietnam, said.
The company eyes sales of 100 billion baht following the expansion, up from the current 38.6 billion baht, he added.
Central Retailed first came to Vietnam 10 years ago and now has ten retail brands, including Go! Mall, Nguyen Kim, SuperSports, and Top Market, which sell a range of products from food to electronics.
Other foreign retailers who have announced plans to expand in Vietnam include Japan’s Aeon and South Korea’s Lotte.
Aeon Mall, which has six outlets, plans to open 16 more, including three or four in Hanoi.
