THE WHAT? Thai retailer Central Group has revealed ambitious expansion plans for both its home market and neighbouring Vietnam, according to a report published by Nikkei Asia.
THE DETAILS The owner of Rinascente and Selfridges’ retail unit, the aptly name Central Retail, has earmarked THB30 billion to invest in Vietnam, to transform its current 10 retail brands and 340 malls and stores into the country’s biggest food and property retail platform, with sales of THB100 billion by 2027.
THE WHY? Analysts have predicted strong growth for Vietnam as it emerges from the pandemic, with retail forecast to grow 9 percent per year to hit a value of US$150 million.