Home / Investment / News
Central Retail to invest US$1.1 billion for business expansion in Vietnam
Phi Nhat 21:18, 2021/04/02
Vietnam is forecast to become one of the fastest and most attractive markets in the world.

Thailand’s Central Retail announced its five-year plan to invest US$1.1 billion for its business expansion in 55 provinces and cities in Vietnam. 

 Big C Thang Long supermarket in Hanoi. Photo: Thanh Hai 

The retailer said that Vietnam’s service industry will continue to grow strongly in 2021,

making Vietnam one of the fastest and most attractive markets in the world. It is the reason for the new investment of Central Retail.

The plan focuses on developing multi-sectoral platform to improve customer experience, branding for non-food categories as well as enhancing its presence in urban and rural areas to strengthen its dominance in Vietnam, Philippe Broianigo, CEO of Central Retail in Vietnam, said.

To improve customer experience, the retailer will develop the omni-channel including nguyenkim.com and supersports.com.vn, build e-commerce stores on Lazada, Shopee and Tiki and cooperate with food apps such as Grab, Now, Beamin and Chopp. By the end of 2020, sales revenue from the omni-channel contributed 5% to the retailer’s total revenue. 

After nine years of operating in Vietnam, the food industry is an important category for the retailer which contributed nearly 70% to the total revenue of Central Retail. 

“We plan to promote the food category along with the potential of Vietnam's retail industry. We will continue a suitable and flexible way of doing business towards sustainable development,” emphasized CEO of Central Retail Corporation Yol Phokasub.

With 37 commercial centers and 230 stores with a total area of 1 million m2 in 39 provinces, Central Retail in Vietnam serves an average of 175,000 customers per day.

RELATED NEWS
TAG: Central Retail Big C
Other news
15:31, 2021/31/14
Thai Cafe Amazon expands business in Vietnam
Thai giant calls Vietnam a bright spot for investment amid the global Covid-19 pandemic.
21:18, 2021/18/02
Central Retail to invest US$1.1 billion for business expansion in Vietnam
Vietnam is forecast to become one of the fastest and most attractive markets in the world.
21:01, 2021/01/31
E-solutions help MSMEs speed up digital transformation
The new products will solve problems of four main business areas for enterprises.
22:11, 2021/11/29
AEON Mall Vietnam to build US$190-million shopping center in Bac Ninh
The Japanese group considers Vietnam a key market to expand operations, especially in retail.
15:45, 2021/45/29
FDI commitments in Vietnam surge 18.5% in Q1
Disbursement of the foreign capital inflow rose by 6.5% to US$4.1 billion during the January-March period.
15:30, 2021/30/29
VNR plans expansion of shopping centers at train stations in Vietnam
The railway station area is expected to become the location of amusement parks, supermarkets and services, then earning profits.