Central Retail Corporation Public Company Limited (CRC) has announced impressive first-quarter results, with total revenue reaching THB 67.255 million, marking a significant 6% year-over-year (YoY) increase. This strong performance has set the stage for accelerated growth and expansion across the company’s diverse business portfolio.

• – Garmin shows record revenue growth of over 49,680 million baht
• – McDonald’s breaks records, raking in 7.2 billion baht in revenue

According to Mr. Yol Phokasub, CEO of Central Retail, the company’s robust ecosystem and flexible portfolio have been key drivers of this success. Omnichannel platforms have played a crucial role, contributing 19% of total sales and highlighting the growing importance of integrated online and offline shopping experiences.

Luxury Fashion Takes Center Stage

Central Retail’s fashion business has experienced a remarkable transformation, with significant investments aimed at establishing the company as a global leader in luxury retail. Central Chidlom, known as “The Store of Bangkok,” has undergone a THB 4 billion renovation, emerging as a world-class luxury destination. The store now boasts an extensive collection of renowned brands, including Bottega Veneta, Burberry, Celine, and Louis Vuitton, among others.

The recent “Luxe Night Out” event showcased the store’s impressive offerings, attracting fashion icons from across Thailand. The event also marked the launch of “Shoes Avenue,” Thailand’s first dedicated luxury footwear destination, featuring brands like Christian Louboutin, Gucci, and Jimmy Choo.

Central Marketing Group (CMG), a subsidiary of Central Retail, has further strengthened the company’s luxury portfolio by securing distribution rights for iconic British fashion brand Paul Smith and renowned Korean makeup artist brand Jung Saem Mool.

Wholesale and B2C Growth

Central Retail’s wholesale and B2C businesses have also demonstrated impressive growth. GO Wholesale, launched just seven months ago, has already opened seven branches and established itself as the “King of Fresh” among consumers. The brand’s success is attributed to its focus on fresh products, exceptional service, and a convenient shopping experience. With plans to open four more branches in the second half of the year, GO Wholesale is poised for continued expansion.

Thaiwatsadu, Thailand’s leading omnichannel DIY home retailer, has expanded its reach to 100 branches nationwide. This year, the company plans to accelerate its growth by opening nine additional branches and remodeling flagship stores into hybrid concepts that combine the strengths of Thaiwatsadu and BnB Home.

Expansion in Vietnam

Central Retail has reaffirmed its position as Vietnam’s leading mall and hypermarket operator, with plans to open three new GO! malls and GO! hypermarkets this year. The company is also investing in renovations of flagship stores in Hanoi and Ho Chi Minh City, aiming to enhance the shopping experience for customers.

In addition to expanding its physical presence, Central Retail has also entered the lifestyle and fashion sectors in Vietnam, becoming the brand distributor for global brands like Dyson, Crocs, and FitFlop. This strategic move caters to the growing demand for lifestyle products among high-income earners, millennials, and the increasing number of international tourists in the country.

Continued Commitment to Growth and Sustainability

Central Retail’s outstanding Q1 performance is a testament to the company’s robust business strategy, which focuses on leading excellence and advancing sustainability. The company remains committed to delivering exceptional experiences for customers and stakeholders across Thailand, Vietnam, and Italy.

As Central Retail continues to expand its operations and explore new opportunities, the company is well-positioned to maintain its leadership position in the retail and wholesale industries. With a strong emphasis on innovation, sustainability, and customer-centricity, Central Retail is poised for continued success in the years to come.

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