Thailand’s largest retailer Central Retail Corporation’s further expansion plans will see overseas assets account for half of its portfolio.

Central Retail’s overseas markets, which include China and Italy, comprised seven per cent of its total sales of 115 billion baht (US$3.74 billion) last year. This year, the company plans to double that ratio.

A total of 28.7 billion baht (US$932.72 million) will be invested this year for increasing its current 549 retail locations to 847.

This will include 210 Tops Daily stores, 12 Thai Watsadu stores, eight Homeworks stores, five Robinson department stores, four Power Buy stores and a department store in Chengdu, China, which combined will cost 12.5 billion baht (US$406.24 million).

The company will also spend 10 billion baht (US$324.99 million) for mergers and acquisitions, and more on refurbishments. 

In anticipation of the ASEAN Economic Community (AEC) in 2015, Central Retail will look for opportunities in other ASEAN countries.

“AEC is vital to the growth of the Thai economy in future, and Thai operators should take this opportunity to expand their businesses as well,” said CEO Tos Chirathivat.

The expansions are predicted to take total sales to 39 per cent to 160 billion baht (US$5.20 billion) this year, 34 per cent of which to be driven by supermarkets and 43 per cent by department stores.

GB