The department store mentality is evolving, with owners seeking growth in new and exciting markets. Leading the way is Thailand’s Central Retail Corporation. RLI talks to CEO Tos Chirathivat about the company’s plans for expansion, both home and abroad.
Founded in 1957, Central Retail Corporation is a Thai company that is at the forefront when it comes to developing innovative and diverse retail formats.
The company is committed to the very highest quality products and services, offering a winning combination of Asian experience and international expertise. What was originally a small family-run company has evolved into a group of experienced professionals; senior managers receive regular training abroad, increasing their knowledge of modern merchandising, marketing and operational techniques.
Central Retail Corporation is a multi-format retailer, with different types of store – including three department stores, a supermarket and six speciality retail store brands – in Thailand, China and Italy.
Brands include the flagship Central department store, and the Zen and Robinson department stores in Bangkok, Thailand.
Founded in 1865, La Rinascente is the leading department store in Italy with 11 locations across the country. Its flagship store, Milano Piazza Duomo in Milan, is a true point of reference for high quality shopping, with ten floors devoted to the best fashion, beauty, accessories, lingerie, houseware, and a gourmet foodhall. The store also features a Design Supermarket offering hundreds of brands, from living
With the acquisition of La Rinascente, Central will continue to grow its current business whilst supporting the expansion of its stores network, starting in Rome and Venice, and into other major cities around
With over 500 stores across its portfolio, Central Retail Corporation is currently enjoying some $5bn in sales, some 50 per cent of which is generated by its department stores alone.
“The past two years have been very good for us. Last year we grew around 20 per cent and this year we’ve grown around 30 per cent, so basically over the last two years we’ve grown at a rate of around 50 per cent,” explains CEO
For the full article, please see the May 2012 issue.