Central Retail is expanding its footprint in Vietnam, planning to open up to 37 new food stores by 2028 as consumer spending and demand for modern retail continue to grow.

The Thai retailer has invested more than THB49 billion (US$1.5 billion) in Vietnam since entering the market nearly 15 years ago. It now operates more than 300 stores and shopping centres across 26 provinces, covering 1.3 million sqm of retail space.

The company plans to add 10-12 Go! hypermarkets and 23-25 Mini Go! supermarkets over the next two years, targeting both major and secondary cities.

“We remain confident in Vietnam’s potential as one of Central Retail’s key strategic markets, supported by strong economic growth, continued urbanisation, and rising consumer purchasing power,” said Suthisarn Chirathivat, CEO of Central Retail Corporation Public Company Limited (CRC). 

Food is the retailer’s main growth driver, with Go!, Tops Market, Mini Go!, and Lan Chi Mart comprising its portfolio. Go! stores are being repositioned around fresh food, with bakery and eatery concepts also being introduced.

“Our strength lies in having a diverse range of store formats, from hypermarkets to supermarkets, allowing us to expand in ways that best suit the potential of each location and consumer segment across both major and secondary cities,” said Stephane Coum, CEO of Central Retail Food Group. 

“This is a key strategy that enables CRC to grow flexibly while reaching a broader base of consumers.” 

Central Retail is also expanding its loyalty program, The 1 Vietnam, which has attracted more than 7.4 million members since launching less than a year ago.

The retailer said more than 90 per cent of products sold in its Vietnamese stores are locally sourced, and it works with more than 2000 domestic suppliers.

• Further reading: How is Central Retail reshaping its sprawling retail empire?