Central Retail Corporation Public Company Limited | APEA - Regional Edition - Asia Pacific Enterprise Awards

Central Retail Corporation Public Company Limited

 

CORPORATE EXCELLENCE CATEGORY

Central Retail Corporation Public Company Limited

Retail Industry
www.centralretail.com
central 1 ce

Information about the Company

Central Retail Corporation Public Company Limited (Central Retail) is the leading multi-format, multi-category retailing platform in Thailand. It is also growing internationally, securing leadership status in Italy and becoming one of the leaders in Vietnam. It has a network of 3,550 sales counters (as of 30 June 2022) such as department stores, convenience stores, specialty stores, supermarkets, hypermarkets, and retail plazas. Central Retail’s business is organized into 5 operating segments based on business units which include hardline, food, fashion, property segments, and health & wellness. As of 30 June 2022, Central Retail has a presence in 3 countries; comprising of 58 provinces in Thailand, 41 provinces in Vietnam, and major cities across Italy.

Corporate Culture & Company Activities

Central Retail knows the world in which you live in is uniquely yours. For life is lived in different rhythms, revolves around different lifestyles and fuelled by different purposes. And in celebration of life and all its diversity, Central Retail exists to be the Central to Life that completes every need and enriches everyday with new experiences.

It is Central Retail’s mission, conviction, and reason of being to create worlds that are central to you and central to everyone.

Central Retail has defined I • CARE as the core values that need to be transferred and instilled in all employees to ensure that its operational goals are aligned, contributing to good organizational culture. I • CARE comprises INNOVATION, CUSTOMER, ALLIANCE, RELATIONSHIP, and ETHIC.

INNOVATION includes the creation of new products, welcoming every opportunity and challenge to improve quality and produce more effective performance. CUSTOMER focuses on customers, determined to provide excellent service with care and attention for internal and external customers. ALLIANCE includes working as a team for the progress of the business group. RELATIONSHIP involves common spirits with colleagues, business partners, and society, for sustainable growth. ETHIC is the respect of ethics in business operations.

Central Retail is progressing its everyday work with an awareness of the impact it has on people and the planet, a way to generate prosperity under good governance practice, and a view of peace and partnership in which everyone is mutually dependent.

Central Retail, Central to Life.

Achievements and Impact

After the reopening of borders in Q3 of 2021, Central Retail has achieved continuous growth to date despite the rising inflation, oil prices, and interest rates along with the uncertainty of Covid-19.

Amidst these challenges, Central Retail marched ahead with unwavering strength and stability, achieving leaping growth powered by its strong foundation and agile DNA that has enabled the company to quickly adapt to every challenge.

Along with the CRC Retailligence strategy, the company has successfully achieved its short-term and long-term goals and remains confident that it will exceed its sales growth target of 15-20% by the end of 2022. Most recently, Central Retail revealed its Q2 performance with a revenue of THB56,826 million (+23% YoY) EBITDA of THB6,912 million (+69% YoY) and a net profit of THB1,605 million (+477% YoY). In terms of sales performance by business category, the food category accounts for 39% of total sales, the hardline category accounts for 36% and the fashion category accounts for 25%. As for omnichannel performance, it has achieved double-digit growth accounting for 17% of total sales. Store and mall traffic within the group has also significantly surged with sales returning to the equivalent of the pre-Covid era although the number of international tourists has not fully returned.

Future Direction

For the 2022 outlook, Central Retail moves full steam ahead to continue its strong performance in an extraordinary year, investing over THB20,000 million to rejuvenate core businesses and accelerate the expansion of new businesses with continuous investments in digital technologies. Along with the CRC Retailligence strategy the company’s key focus is in expanding the CRC Ecosystem and building increasingly customer-centric omnichannel platforms to serve diverse needs, delivering unmatched customer experiences. For the year ahead, Central Retail plans to launch new businesses, products, and services to lead the way for the retail industry in Thailand, Vietnam, and Italy.

For Thailand, the company plans to reinforce leadership as the #1 intelligent omnichannel platform across hardline, food, fashion, and property through renovations, expansions, and the launch of new businesses. For Vietnam, it aims to reinforce leadership in food, mall, and omnichannel retailing after sales in Q1 doubled at 88% compared to the previous year and drove the success of GO! application to become one of the most popular shopping applications in Vietnam. For Italy, it seeks to reinforce leadership in luxury omnichannel retailing with Rinascente’s store refreshment and online development. Renovations are another key focus with aims to modernize spaces to support the increasing traffic from both local and foreign customers after Q1/2022 saw a 58% growth in traffic. Central Retail is confident that sales in Italy will see double-digit growth after the ease of the Covid-19 lockdown and the comeback of international travelers.

COMPANY MILESTONES