HCMC – Thailand’s retailer Central Retail, which is known for its US$1-billion takeover of the Big C supermarket chain, has announced an injection of an additional VND20 trillion into the Vietnamese market in the next five years.
The firm’s plan is aimed at boosting sales in the local market in the 2022-2026 period to VND65 trillion. The firm is moving towards creating a multi-channel platform in the food and shopping mall fields in Vietnam.
With its additional investment, Central Retail is set to multiply the number of points of sale nationwide, expanding its reach from 40 cities and provinces to 50.
Olivier Langlet, general director of Central Retail Vietnam, said that after 10 years of doing business in Vietnam, the group’s retail sales of food have surged and accounted for 22% of Central Retail’s total revenue.
Vietnam is one of the company’s key investment destinations, he added.
Central Retail is one of the largest foreign-invested multi-sector retailers in Vietnam, running over 300 stores and 39 shopping malls in the country.
Last year, despite the hardship induced by the Covid pandemic, the group’s total retail sales of goods in Vietnam inched up 0.2%.
Central Retail Vietnam is operating such retail brands as GO! Shopping Mall; Tops Market; Go! Hypermarket; Big C, Go!; Lan Chi Mart; Nguyen Kim; Supersports; LookKool; Kubo; Hello Beauty and Robins.