Look at the kingdom of “Central Retail” in Vietnam A milestone that many companies invest in Many people may not know that the Central Retail Group has been operating in Vietnam for more than 11 years with more than 340 stores, generating sales of over 40,000 million baht!!
The Thumbsup team had the opportunity to visit Central Retail Group in Vietnam. and find interesting stories with a very successful Thai company in Vietnam
“Central Retail Vietnam” with leapfrog growth
Vietnam is a country with a very high growth rate, with over the past four years having the highest GDP growth rate in ASEAN. And twice as much as Thailand, which is not surprising that many businesses are interested in Vietnam.
- Central Retail has opened its business in Vietnam since 2014, starting with 22 stores with sales of 300 million baht. Up to the latest year, there are more than 340 stores and sweeping up sales of 38,592 million baht.
- This growth has continued. And there was a turning point: in 2019, it acquired all Big C businesses in Vietnam. and was rebranded as GO! Malls.
- At present, Central Retail Vietnam is ranked No. 1 in the Hyper Market and No. 2 in the Lifestyle Mall category.
- In 2022, more than 66 million purchases were made from customers.
- Central Retail Vietnam employs more than 15,000 people and has a total service area of more than 1,200,000 square meters.
- Despite the exponential growth But the brand has not forgotten the principle of the business “Central to Life”, which has given back to society. both in education, social and environmental aspects
Set an additional investment target of 50,000 million baht and set a sales target of over 150,000 million baht by 2027.
Despite being No. 1 in Vietnam’s hypermarket market, Mr. Olivier Langlet, CEO of Central Retail Vietnam, revealed his goal this year that he was ready to grow the food business across the country, strengthening the food business. property, enhance and increase Nguyen Kim’s market share and develop a loyalty platform to support more than 66 million customers.
Khun Yol Phokasub, Chief Executive Officer of Central Retail Corporation (CRC), has revealed a 5-year roadmap aiming to inject more than 50 billion baht in investment in Vietnam to generate sales of 150 billion baht and double the number of stores to 600 stores. Covering a total of 57 provinces out of 63 provinces across the country.
Investing for 5 years, 50,000 million baht, to build on the leadership in Vietnam Set a sales target of 150,000 million baht by 2027.
Bangkok, February 17, 2023 – Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC, said, “Central Retail sees Vietnam as a key market from the potential of the country that is ready in many aspects. and has continued economic growth Therefore, we have been expanding our business vigorously in Vietnam for the past 11 years. At present, Central Retail Vietnam has more than 340 stores with a total area of more than 1,200,000 square meters in 40 provinces, accounting for 85% of Vietnam’s GDP. And create a leap of sales growth from 300 million baht in 2014 until 2021, with sales of 38,592 million baht and the latest in 2022, sales in Vietnam accounted for 25% of Central Retail’s total sales. As a result, Central Retail has become the largest foreign retailer in Vietnam. Which is ranked No. 1 in Hypermarkets and No. 2 in Lifestyle Shopping Malls.
For the 5-year roadmap of Central Retail Vietnam, we are still moving forward to fully expand our business. This is in line with the economic trend that continues to grow. Ready to set a goal to compress a five-year investment budget in Vietnam of more than 50,000 million baht to generate sales of 150,000 million baht and double the number of stores to 600 branches covering a total of 57 out of 63 provinces nationwide. according to the goals set To become number 1 in omni-channel in food group and number 2 in property group in Vietnam by 2027
Mr. Olivier Langlet, Chief Executive Officer of Central Retail Vietnam, said, “Vietnam’s overall growth shows a continuous positive trend. Even in the face of the volatile and uncertain global economic situation. This year, Vietnam’s GDP is expected to grow at 6.7%, the fastest growth in Southeast Asia. coupled with the rapid expansion of the population in the city expansion of modern trade and the increasing number of tourists This is a positive sign that makes Central Retail continue to grow continuously in all 3 business groups that can fully meet the lifestyles of Vietnamese people. which consists of food groups including GO! Hypermarkets total of 38 branches Tops Market total of 10 branches Mini go! Supermarkets total of 3 branches and Lanchi Mart total of 24 branches Property Group includes GO! total of 39 branches and non-food groups, namely Nguyen Kim, Super Sport, Kubo and Robins.
With the determination to continuously accelerate the business expansion, Central Retail Vietnam is preparing to invest more than 6,000 million baht in 2023 to expand the empire to cover all over Vietnam. with the following business plans
- Create growth in the food business covering the country: Emphasizing its leadership as the No. 1 hyper
market by rebranding and renovating GO! hypermarkets totaling 10 branches and expanding Tops
Market and Mini go! increased 8-10 branches to serve consumers thoroughly As well as strengthening the Fresh and Non-Food groups to attract more new consumer traffic. - Strengthening the property business: GO! Total of 10 branches to be more modern and prepare to open more new branches in the future as well as creating a good experience for customers with stores in the center diverse meet every lifestyle
- Upgrade and increase Nguyen Kim’s market share: Renovate 10-12 Nguyen Kim stores and expand 3-5 Nguyen Kim stores, both standalone and expanded. Enter the GO shopping center! to fully meet the needs of consumers
- Develop a Loyalty Platform to support the number of customers who use the service for more than 66 million people: enhance the efficiency of the Loyalty Platform. In order to understand customer insights and deliver products and services that meet the needs Using The 1’s expertise to help develop the platform better.
Mr. Yon added that “Central Retail not only generates business growth. But we also go to raise the community, society and create a good quality of life for Vietnamese people in all dimensions. Whether creating jobs, creating careers, supporting farmers in the community to increase their income by more than 40%, to investing more than 10 million baht in building schools for Vietnamese children. and being an important force to help and support the people of Vietnam during the COVID-19 crisis. With a total donation of more than 20 million baht, at the same time, we are also a bridge between the governments of the two countries. in terms of economy, trade and investment through various activities such as the Vietnamese Week in Thailand that has been held continuously for more than 5 years and the business matching event to support the import and export of goods between the two countries, including signing On behalf of the MOU of the Thai and Vietnamese Retail Association It also brings environmental sustainability into every dimension, such as installing solar cells on the roof of the GO! total of 20 branches, installation of electric vehicle charging stations in shopping centers and reduce the use of single-use plastic bags This is in line with the intent of being a Green & Sustainable Retail, a model retail organization in sustainability towards Net Zero in the year 2050 according to the goals set by Central Retail.”
“With our commitment to doing business Along with raising the level of society and community make the business of Central Retail in Vietnam grow sustainably and accepted by the Vietnamese Including always receiving good support from the Vietnamese government which we will continue to do for the society and people of Vietnam Because our intention is to create prosperity and grow sustainably wherever we do business,” Mr. Yon concluded.
