Mr. Yol Phoksasub, CEO of Central Retail Corporation Public Company Limited (CRC), announced that Central Retail has begun the year with sustained growth, reporting first-quarter revenues of 67,255 million Baht (+6% YoY) and a core profit of 2,524 million Baht (+14% YoY). Sales through omnichannel platforms accounted for 19% of total sales, reflecting growth driven by Central Retail’s robust ecosystem and flexible portfolio.
Central Retail’s Business Highlights:
- Fashion Business:
- Central Chidlom, known as “The Store of Bangkok,” has undergone a significant transformation with an investment of over THB 4 billion, aiming to become a World Class Luxury Destination. This one-stop-shopping venue features luxury brands like Bottega Veneta, Burberry, Celine, Dolce & Gabbana, Emilio Pucci, Kenzo, Loewe, Louis Vuitton, Missoni, Roger Vivier, and Versace. An exclusive “Luxe Night Out” event on April 25th featured the unveiling of “Shoes Avenue,” Thailand’s first comprehensive collection of world-class footwear brands, including Christian Louboutin, Gucci, Jimmy Choo, Mach & Mach, Rene Caovilla, Roger Vivier, Sergio Rossi, The Attico, TOD’S, Tom Ford, and Tory Burch.
- CMG (Central Marketing Group), part of Central Brand & Specialty group, has obtained distribution rights for the British luxury brand Paul Smith and will launch a new flagship store at Central Embassy, attended by Sir Paul Smith himself. CMG also secured distribution rights for Jung Saem Mool, a renowned Korean makeup artist brand, enhancing its portfolio with world-class brands.
2 . B2B/B2C Category:
- GO Wholesale has opened 7 branches within 7 months of its market launch, earning the title ‘King of Fresh’ for its excellent understanding of customer needs, offering fresh products, exceptional service, and a convenient shopping experience. With plans to open four more branches in the second half of the year, GO Wholesale aims to end the year with a total of 11 stores across Thailand.
- Thaiwatsadu, Thailand’s leading Omnichannel DIY Home Retailer, is expanding to 100 branches nationwide. This year, Thaiwatsadu will open 9 new branches and remodel flagship stores in Bangna and Bang Bua Thong into hybrid stores, integrating Thaiwatsadu and BnB Home to meet all home and construction needs. Thaiwatsadu’s private label products have grown in popularity, now accounting for 18% of total products sold.
3 . Vietnam:
Central Retail reaffirms its position as Vietnam’s top mall and hypermarket operator by expanding its GO! malls and GO! hypermarkets with 3 new branches this year. Additionally, renovations of their flagship stores in Hanoi and Ho Chi Minh City are underway, set for completion by the end of 2025. Last year, the renovation of 8 GO! malls resulted in a 12% increase in rental income, showcasing positive outcomes.
Central Retail has also ventured into the lifestyle and fashion sectors by becoming the brand distributor for renowned names like Dyson, Crocs, and FitFlop. This expansion aims to meet the growing demand for lifestyle products among high-income earners, millennials, and the rising number of international tourists in Vietnam.
“These remarkable achievements stem from Central Retail’s robust business strategy anchored in the concept of Leading Excellence and Advancing Sustainability. This establishes Central Retail as a leader in the retail and wholesale industries, delivering exceptional performance across all business segments while advancing our sustainability initiatives. Central Retail remains committed to the continued growth of our businesses, striving to deliver the best possible experiences to our valued customers and stakeholders across Thailand, Vietnam, and Italy,” concluded Mr. Yol.
