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
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. The company is also growing internationally, securing leadership status in Italy, and becoming one of the leaders in Vietnam. Central Retail is a pioneer in Omnichannel retailing in Thailand, complementing its retail store network and merchandise offerings with leading positions among store-based retailers in online traffic.

Central Retail’s business is organized into 5 business units: Fashion, Food, Hardline, Property, and Health & Wellness. As of August 2023, Central Retail has a presence in 3 countries, comprising 59 provinces in Thailand, 41 provinces in Vietnam, and 8 major cities across Italy.

The company is working towards its vision and mission to be the best, most sustainable, and most admired customer-centric omnichannel retailer wherever it operates.

Corporate Culture & Company Activities

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 ( the creation of new products, welcoming every opportunity and challenge to improve quality and produce more effective performance), CUSTOMER (the focus on customers, to provide excellent service with care and attention for internal and external customers), ALLIANCE (the value of work as a team for the progress of the business group), RELATIONSHIP (the importance of valuing and respecting differences and diversity in demographics to promote a workplace where care, sincerity, flexibility and consideration of colleagues, business partners, and society are key factors), and ETHICS (the respect of ethics in business operations).

At Central Retail, everyone is progressing through their everyday work with an awareness of the impact they have on the people and planet. A way to generate prosperity under good governance is to practice and view peace and partnership with the understanding that humans are all mutually dependent.

Central to Life.

Achievements and Impact

In the first half of 2023, Central Retail achieved continuous growth in revenue of THB 123,208 million (+9% YoY) and net profit of THB 4,002 million (+37% YoY) from flexible and agile management and portfolio, including the success of expanding its portfolio to cover all business groups in Thailand, Vietnam, and Italy, enabling the company to fully meet the needs of customers. Also becoming a retail platform that fulfills the potential of partners and suppliers perfectly, including effective cost and expense management. All of this allows Central Retail to create continuous growth in every situation.

Central Retail’s conviction to build a promising future for the generations to come by reinforcing its position as Thailand’s first Green & Sustainable Retail. The company is committed to following the United Nations Sustainable Development Goals: SDGs, promoting BCG (Bio-Circular-Green Economy), and driving the ESG (Environmental-Social-Governance) agenda. The company has used these universal blueprints as a foundation for the development of the CRC ReNEW strategy, driving leaping growth for the business by operating with the highest standards of sustainability practices.

Supporting this strategy, the company has set long-term goals to reach Net Zero by 2050 along with short-term 2030 goals. These include reducing greenhouse gases by 30%, navigating societal wellbeing by generating an income of THB 5,400 million per year for local communities, 100% implementation of eco-friendly packaging across the business, and managing and reducing food waste by 30%.

Future Direction

For the second half of 2023, Central Retail is preparing to accelerate revenue from a strong business plan by launching GO Wholesale, which will be one of the key drivers for CRC’s food business and will be the new choice for all customers.

The company plans on reinforcing retail leadership in the tourist area focusing on Phuket province, which is the province with the highest tourist income and ranks number one in Thailand. Central Retail plans to open Robinson Lifestyle Shopping Center, Chalong Branch, which will be the second in Phuket Province. This will bring the shopping center to a total of 33 branches all over Thailand. At the same time, the company is also preparing to open the Robinson Department Store, Chalong Branch in the Phuket Province.

In Bangkok, which ranks as the number one tourist city in the world, Central Retail is ready to expand business in the West Zone of Bangkok after the successful launch of the Robinson Lifestyle Shopping Center Ratchaphruek Branch. This November, Central Retail will celebrate the opening of the Central Department Store Westville Branch which is considered the 76th department store branch of Central Retail to be a new landmark, answering the needs of Bangkok’s New CBD. In addition, by the end of 2023, Central Retail will celebrate the opening of 80 Thai Watsadu branches throughout Thailand and a total of 39 branches of the “Vietnam, GO!” shopping centers and hypermarkets nationwide.

COMPANY MILESTONES