Central Group Thailand eyes Turin store

Thailand’s Central Group says it is planning to open a new department store in the Italian city of Turin within the next two years.

Central Group Thailand is already engaged in a steady international expansion plan, having last year opened its first department store in Indonesia and this year having confirmed it is in negotiations to buy an unidentified German department store.

Tos Chirathivat, the group’s CEO, was quoted by the Bangkok Post newspaper saying the company is negotiating the rental of 10,000sqm in an undisclosed Turin site where it will open a La Rinascente department store. Central owns 11 La Rinascente department stores in Italy and has a 12th under construction in Rome, which would make Turn its 13th location.

Central Group Thailand also owns the Illum store in Denmark, currently under renovation.

Tos told the Bangkok Post La Rinascente sales grew 13 per cent to euro 600 million in the first quarter of this year. About one third of the sales are to tourists, largely Chinese.

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