Mr. Olivier Langlet, CEO of Central Retail Vietnam, stated, "Since our initial investment in Vietnam in 2012, we have recognized the potential and business opportunities in the country, which is a strategic point for Central Retail. This is evidenced by our sales in Vietnam, which started from zero and have grown exponentially each year, reaching 38.592 billion baht within just 10 years, accounting for 22% of total sales for the Central Retail Group today."

With a commitment to business development over the past 10 years, Central Retail is now the number one player in both hypermarkets and lifestyle shopping centers in Vietnam, covering 40 provinces nationwide, representing 85% of Vietnam's GDP, and boasting a strong customer base of over 12 million people. Additionally, Central Retail has created the best omni-channel platform in Vietnam, building on the successful model from Thailand, resulting in omni-channel sales accounting for over 8% of total sales for Central Retail Vietnam. The company has also expanded successful brands from Thailand, such as Tops Market, to cater to all customer segments, establishing a strong foundation for the food business and capturing a 62% market share in Vietnam's hypermarket sector. Furthermore, Central Retail continues to expand its non-food and property businesses, solidifying its position as the largest foreign retailer in Vietnam.

Highlighting 3 Key Strategies of Central Retail Vietnam Towards 4 Success Goals in the Next 5 Years By 2026, Central Retail Vietnam is set to invest over 30 billion baht to achieve four success goals:

  1. Become the number one omni-channel platform in the food and property sectors in Vietnam.
  2. Increase sales to 100 billion baht.
  3. Double the proportion of sales through omni-channel to 15%.
  4. Expand operations to cover 55 provinces out of a total of 63 in Vietnam.

Central Retail has established 3 key strategies under the CRC Retailligence framework to achieve these goals, which include:

  1. Continue to expand and cover the country with core business, such as increasing the number of food stores while modernizing and upgrading GO! shopping centers, launching private label products to offer value to consumers, and developing mixed-use projects to enhance the property business.
  2. Develop omni-channel channels to reflect the future retail leader. Central Retail is continuously enhancing its omni-channel platform to provide the best and seamless shopping experience for customers, aiming to double the proportion of sales through omni-channel to 15%.
  3. Explore new business models and continuously seek growth opportunities. The company aims to expand its consumer base and meet the lifestyle needs of Vietnamese customers in various regions, while also looking for M&A opportunities to create new prospects and accelerate business expansion. Additionally, Vietnam will serve as a source of raw materials and products for Central Retail's businesses in Thailand.

"Over the past 10 years of establishing the Central Retail empire in Vietnam, we have grown rapidly and robustly, a result of conducting business with a vision focused on sustainable growth while improving the quality of life for people in every country where we operate. In Vietnam, Central Retail has contributed to community, society, and economic development by employing Vietnamese citizens and supporting local farmers. At the same time, we act as a bridge to strengthen relationships and cooperation between Thailand and Vietnam, facilitating collaboration between the governments of both countries through various activities, such as promoting the Thai Festival at Tops Market in Vietnam, organizing the Taste of Vietnam event in Thailand, and facilitating business matching to promote SMEs from both countries to engage in business discussions. We also support the import and export of goods between the two countries for sale within the business networks of both nations. All of this is driven by Central Retail's commitment to conducting business based on sustainability in every aspect, which will be a core principle as we grow in every area where our business expands," concluded Mr. Olivier.