Thai retail powerhouse lands at No. 2 in FORTUNE’s inaugural Southeast Asia 500 list, highlighting the region’s dynamic consumer market and the company’s people-centric approach.

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Central Retail Corporation (CRC), Thailand’s leading retail conglomerate, has solidified its position as a dominant force in Southeast Asia’s retail landscape, securing the second-highest ranking in the retail sector on FORTUNE magazine’s prestigious “Southeast Asia 500” list. This accolade underscores the region’s thriving consumer market and Central Retail’s unwavering commitment to its employees and stakeholders.

The newly launched “Southeast Asia 500” list ranks the region’s largest companies by revenue, providing a snapshot of the economic powerhouses driving growth and innovation. Central Retail’s inclusion at number 42 overall and number two in the retail sector is a testament to its robust business model and strategic expansion across Thailand, Vietnam, and Italy.

“We are incredibly proud to be recognized among the top retail companies in Southeast Asia,” said Yol Phokasub, President and CEO of Central Retail. “This achievement is a reflection of our dedicated team, our loyal customers, and our commitment to delivering exceptional retail experiences across diverse markets.”

Central Retail’s success story is rooted in its “people-first” philosophy, encapsulated in its “CRC Care” program. This initiative emphasizes the well-being and development of its employees, recognizing them as the driving force behind the company’s growth. By fostering a positive and supportive work environment, Central Retail has cultivated a workforce that is both highly skilled and deeply committed to the company’s vision.

“Our people are our greatest asset,” Phokasub emphasized. “We believe that investing in our employees is not only the right thing to do, but it’s also essential for our long-term success. When our employees are happy and engaged, they deliver exceptional service to our customers, which in turn drives our business forward.”

Central Retail’s strong performance on the “Southeast Asia 500” list also signals the resilience and dynamism of the region’s consumer market. Despite global economic headwinds, Southeast Asia’s burgeoning middle class and increasing digital connectivity have fueled a surge in consumer spending. Central Retail has capitalized on this trend by expanding its online presence and diversifying its product offerings to cater to evolving consumer preferences.

The company’s ambitious growth strategy includes plans to further expand its footprint in Southeast Asia, leveraging its strong brand recognition and operational expertise. Central Retail is also committed to sustainability, implementing initiatives to reduce its environmental impact and promote ethical sourcing.

As Southeast Asia continues to emerge as a global economic powerhouse, Central Retail is well-positioned to play a leading role in shaping the region’s retail landscape. With its unwavering focus on its people, customers, and communities, Central Retail is poised for continued success in the years to come.

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