Central Group has revealed its expansion strategy to invest about US$30m in Vietnam over the next five years, doubling its network to around 70 by 2021.
An investment spree
Central has been on an acquisition spree to gain a strong foothold in Vietnam since 2013. Last year, Central Group acquired a 49 percent stake in major Vietnamese electronics retailer Nguyen Kim, which has a network of 21 stores and posted sales of US$400m in 2014. In April, France’s Casino Group sold its hypermarket chain Big C Vietnam to Central for US$1.14bn. It also acquired online fashion marketplace Zalora's operations in Vietnam.
Expansion in Thailand
Central Food Retail, the group's retail arm in Thailand, operates 205 outlets in various formats, including 85 Tops Market , 51 Tops Daily and seven Central Food Hall stores, among others. The company's medium and small formats Tops Market and Tops Daily will be the area of focus for the expansion plan as they are more flexible in terms of store location and operation.
Want to know more about Central Food Retail?
Check out our report on "A day with Central Food Retail" HERE and Central Food Hall store visit HERE