CEO Yol Phokasub outlined the company’s ambitious plans at the CEO Forum 2024 on Monday.
He said CRC intends to allocate 70% of its 22-billion to 24-billion-baht budget towards enhancing and expanding its retail infrastructure in Thailand. The remainder will be directed towards development projects in Vietnam and Italy, where CRC has already established a strong presence.
In line with its growth strategy, CRC aims to solidify its dominance across various segments by launching 40 mid- to large-format stores and renovating nearly 20 existing stores this year.
The company is also targeting revenue growth of 9-11% and earnings before interest, taxes, depreciation and amortisation (EBITDA) growth of about 15-17%.
Operational plans
Yol also provided insights into CRC’s operational plans for each segment, namely fashion, food, hardware and property.
In the fashion area, CRC will turn its flagship store, Central Chidlom, into a luxury destination by adding world-class brands to the portfolio. It also plans to take Thai fashion brands to Vietnam.
In the food area, he pointed out that CRC will add seven new GO Wholesale branches and 10 Tops supermarkets across Thailand. In Vietnam, three additional GO! Hypermarkets and nine mini go! Supermarkets will be set up after both retail formats won a huge response last year.
As for its home improvement and hardware section, CRC intends to open nine new branches of Thaiwatsadu as well as renovate four others. It also aims to transform its Nguyen Kim outlet in Vietnam to deliver better results.
