Central Retail invests US$1.45b in Vietnam operations

The company plans to generate some US$4.3b in sales by 2027.

Central Retail invested THB50b, approximately US$1.45b, in Vietnam as it aims to become a market leader. 

“Central Retail sees Vietnam as a high-potential key market that has shown continuous economic growth. We first entered the market as a fashion retailer with only a few branches, and since then have been expanding our business in Vietnam for 11 years,” Yol Phokasub, Chief Executive Officer of Central Retail or CRC, said. 

Read more: Central Retail invests US$836m to drive sustainable growth

“Today, Central Retail Vietnam has more than 340 stores with a retail space of over 1,200,000 square meters across 40 provinces which covers 85% of Vietnam’s GDP. The company has achieved leaping growth from THB 300 million in 2014 to THB 38,592 million in 2021.”

With the new investment, Central Retail targets achieving a total of THB150b (US$4.3b) in sales by 2027. 

Central Retail also plans to double the number of its stores  to 600 across 57 of Vietnam’s provinces.