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Thai giant Central Retail plans US$3 billion investment in expansion

(Source: Bigstock.)

Thailand’s Central Retail Corporation says it plans to invest US$3.03 billion in expansion during the next five years, aiming to boost revenue by 2.5 times. 

The company’s plan – named CRC Retailligence’ Strategy – is short on detail, but includes expansion across “all business segments, including food, fashion, hardline, property and new businesses”. 

CRC generates about 72 per cent of its revenue in Thailand, the remainder coming from a fast-growing retail business in Vietnam, and shopping centres in Italy. Parent Central Group last month confirmed the $5 billion purchase of upscale UK department-store business Selfridges. 

CEO Yol Phokasub said most of the investment will be used for physical store expansion and upgrades with the balance spent on technology. 

“Central Retail will continue to lead in reshaping the retail industry by leveraging the ‘CRC Retailligence’ strategy and the CRC Data Ecosystem to fulfil consumer needs, both in the physical and virtual world,” he said in a statement. 

“By offering products and services through hyper-personalised experiences, Central Retail leverages data to unlock customer insights to deliver ‘Now Moment’ experiences in real-time, creating more personal experiences and inspiring moments. And by delivering experiences that merge online and offline worlds via Next-Gen Omni Retail, we aim to be the retailer who truly knows and understands our customers, shaping the future of retail in a way that’s never been done before.”

No details were offered about which retail chains or Central businesses would be expanded or where, but the company did refer to a “new concept” under development.

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