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Tag: Central

  • Sean Hill Appointed As New CEO Of De Bijenkorf: A New Chapter For Central Group

    Sean Hill Appointed As New CEO Of De Bijenkorf: A New Chapter For Central Group

    Central Group has announced the appointment of Sean Hill as the new chief executive for the Dutch department store, De Bijenkorf. Hill, a member of the fourth generation of the Chirathivat family, will begin his new role effective immediately.

    Sean Hill’s Background

    A scion of the Chirathivat family, Hill is the eldest grandson of Central Group’s co-founder Samrit Chirathivat. He brings to his new role over 15 years of comprehensive retail experience. His previous positions span several countries and include roles such as retail expansion manager at Rinascente in Italy, and Chief Operating Officer of Germany’s KaDeWe Group. Most recently, Hill served as Managing Director of Central Group Europe, where he was responsible for overseeing investments, managing store development, and handling commercial real estate.

    Upon his appointment, Hill expressed his gratitude and optimism, stating, “It is an honor to build on the foundation laid by the team and the customer-first approach that defines De Bijenkorf. I see many opportunities to develop the business further.”

    Central Group’s Stake in Selfridges

    De Bijenkorf is a part of the Selfridges Group, where Central Group has recently become a shareholder. The corporation’s European operations include Selfridges in the UK, Brown Thomas and Arnotts in Ireland, KaDeWe, Oberpollinger, and Alsterhaus in Germany, Illum in Denmark, Globus in Switzerland, and of course, De Bijenkorf in the Netherlands.

    Questions & Answers

    Who is the new chief executive of De Bijenkorf?
    Sean Hill, a fourth-generation member of the Chirathivat family, has been appointed as the new chief executive of De Bijenkorf.

    What is Sean Hill’s previous experience in the retail sector?
    Hill brings with him over 15 years of experience in the retail sector. His previous roles include retail expansion manager at Rinascente in Italy, COO of Germany’s KaDeWe Group, and MD of Central Group Europe.

    Which other retail stores are part of the Selfridges Group?
    Apart from De Bijenkorf in the Netherlands, the Selfridges Group includes Selfridges in the UK, Brown Thomas and Arnotts in Ireland, KaDeWe, Oberpollinger, and Alsterhaus in Germany, Illum in Denmark, and Globus in Switzerland.

  • Aesop Expands In Bangkok: New Boutique Marries Australian Design With Traditional Thai Architecture

    Aesop Expands In Bangkok: New Boutique Marries Australian Design With Traditional Thai Architecture

    Aesop, the well-known Australian cosmetics brand, has recently expanded its presence in Bangkok by opening its fourth boutique at Central Chidlom.

    Inspiration & Design

    This new boutique boasts a unique design, unlike any other. Aesop’s own in-house design team, based in Melbourne, has taken inspiration from the traditional Thai architecture. The design is marked by curved silhouettes, distinctively characteristic of Thailand’s traditional rooftops.

    The boutique’s interior features an aesthetic infused with bamboo, underscoring the brand’s commitment to local materials and sustainable practices. This design choice is a nod to the enamelled tiles seen on traditional Thai rooftops, which are often supported by wooden frames and trusses.

    Store Features

    Prominent in the store is a standalone terraced display table and several shelving units, all of which are enveloped by bamboo. This common interior material is frequently used across Thailand, reflecting the brand’s integration of local traditions into its store design.

    Product Range

    The most recent addition to Aesop’s portfolio of boutiques will carry the brand’s comprehensive range of products. These include their complete line of skincare, haircare, and body care products, each promising the high-quality experience that Aesop is renowned for.

    Questions & Answers

    What inspired the design of the new Aesop boutique in Bangkok?

    The design of the new boutique was inspired by traditional Thai architecture, particularly the curved silhouettes of the country’s traditional rooftops.

    What materials were used in the construction of the new Aesop boutique?

    The boutique prominently features bamboo in its construction, a common material used throughout Thai architecture and interior design.

    What products will the new Aesop boutique carry?

    The boutique will carry Aesop’s full range of skincare, haircare, and body care products.

  • Thai retail giant to invest $1.45B in Vietnam

    Thai retail giant to invest $1.45B in Vietnam

    Thailand’s Central Retail Corporation has announced it will double the number of its Vietnam stores with its largest ever local investment of 50 billion baht (US$1.45 billion).

    The chain’s number of stores will jump to over 600 in 57 of 63 cities and provinces with the new investment over the next five years.

    Central Retail CEO Yol Phokasub said the Vietnamese market has immense potential for continued economic growth.

    He predicted the country would post GDP growth of 6.7% this year and 7.2% next year, compared with Thailand’s average of 3.5% a year. “This will make Vietnam the fastest-growing market in Southeast Asia,” he said.

    Central Retail Vietnam has reported that in this year alone it will invest 6 billion of the baht in developing its businesses nationwide with a focus on food to reinforce its leading position in the nation’s hypermarket segment.

    The Thai company also plans to renovate 10-12 Nguyen Kim chain electronics supermarkets while opening 3-5 new supermarkets and Go! Hypermarkets.

    Central Retail Vietnam currently operates more than 340 stores. Its revenue surged from 300 million baht ($8.7 million) in 2014 to 38.6 billion baht ($1.12 billion) in 2021.

    A Central Retail manager said that in 2022 despite the impact of the economic recession, rising goods prices, and a consumer cut in spending, its sales grew in double digits thanks to its “always low price” policy.

    Japan’s Aeon plans to operate 100 supermarkets across Vietnam by 2025. South Korean retail giant Lotte has also said it will open more supermarkets in Vietnam.

    After gradually withdrawing from China, Lotte now regards Vietnam as its third most important market after South Korea and Japan.

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  • Central Retail reports solid growth in Thailand, Vietnam and Italy

    Central Retail reports solid growth in Thailand, Vietnam and Italy

    Mr. Yol Phokasub, Chief Executive Officer of Central Retail Corporation PCL (CRC), announced “Central Retail has achieved success hitting record-high in Q4/2021 performance, with a revenue of THB 58,765 million +15%. EBITDA THB 8,031 million +42% and a net profit of THB 2,464 million +124%. We ended 2021 on a high note with profit of THB 277 million. EBITDA THB 20,059 million and a total revenue of THB 195,654 million. Despite the ongoing challenges posed by the spread of COVID-19 for extended periods across Thailand, Vietnam and Italy, Central Retail achieved profitability and generated positive returns to shareholders, with dividend payment of THB 0.30 per share.

    Thailand: Sales in 2021, excluding tourist spendings, returned higher than pre-pandemic levels. Accounting for this achievement is Central Retail’s Multi-Category Platform, providing portfolio flexibility and adaptability to changing customer needs. The focus in 2021 was the hardline segment, which aligns with consumer trends during the pandemic, enabling the segment to rapidly grow and drive sales to levels higher than the pre-pandemic era by 26%. The company launched 5 new Thai Watsadu branches and new store formats under go! WOW banner of total 15 branches within three months in 2021, of which was positively received by customers, underlining the company’s leadership position in Omnichannel Home Improvement Platform. Additionally, Central Retail successfully acquired COL, including OfficeMate and B2S, and is prepared to list MEB, the leader in the e-book business and novel website for Thais, in the stock exchange of Thailand in 2022. For the food segment, Central Retail maintains its #1 position as The Best Food Destination in Thailand, driving business expansion in 2021 by opening 46 branches to reinforce its leadership position in the category. Tops Supermarket also received the Top Influential Brands award from Influential Brand Singapore and Neo Target, a leader in corporate reputation consultancy in Thailand. The company also implemented fixed prices of consumer goods from the end of last year until the first quarter of this year to alleviate financial burdens of consumers during turbulent times. For the fashion segment, the company drove the highest levels of growth in the fourth quarter when compared to previous quarters in the last two years and the segment is still strong in momentum.

    Vietnam: Despite the impact from COVID-19, Central Retail charged ahead with investment plans, including renovations and business expansion to strengthen its leadership in the hypermarket and lifestyle mall segment across urban and rural areas. The company also expanded into the food segment by launching new store format mini go! that targets mass consumers, as well as Tops Market to serve every customer segment in Vietnam. Although Vietnam faced a difficult situation during the pandemic that forced stores to close during the second and third quarters, our sales grew by 8% higher than 2019 whilst EBITDA grew 9% compared to the previous year.

    Italy: Central Retail initiated renovations of Rinascente across 3 flagship stores, including Milan, Florence and Rome. The renovations took place during the lockdown in Italy and were completed in time for the border reopening in mid-2021, which has successfully attracted a growing number of customers, resulting in strong business growth. The spending power from domestic customers along with the return of European tourists boosted sales growth in the fourth quarter, matching 99% of sales during the pre-pandemic era. The company’s annual sales in Italy saw a strong growth of 30% compared to the previous year and has achieved a fourfold increase in EBITDA compared to the year before.

    Property: Renovated and launched new branches across Thailand and Vietnam, including the opening of GO! lifestyle mall in Vietnam and Robinson Lifestyle in Thailand, totaling 6 branches. Robinson Lifestyle maintained an occupancy rate of over 90% and the number of customers has been increasing consistently. By the end of 2021, Central Retail has a total of 69 branches across Robinson Lifestyle, Tops Plaza and GO! lifestyle malls with total net leasable space over 650,000 square metres, a 10% increase from the previous year.

    Technology and Digital: Central Retail enhanced technology integration across the organisation and its people by adopting a digital-first culture and building on the most comprehensive omnichannel platforms, securing Central Retail’s unique leadership in omnichannel retailing. These efforts resulted in omnichannel sales accounting for 20% of total sales, and a 109% growth. The company also built on the CRC Data Ecosystem and developed new techn

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  • Thai giant Central Retail plans US$3 billion investment in expansion

    Thai giant Central Retail plans US$3 billion investment in expansion

    Thailand’s Central Retail Corp. plans to invest 100 billion baht ($3 billion) over the next five years in a bid to become a top Asian retailer and more than double its revenue and profit.

    The new investment will help Central Retail grow its revenue by 2.5 times, earnings before interest, taxes, depreciation and amortization by 3.5 times, and propel its market capitalization by 2.5 times by 2026, according to Chief Executive Officer Yol Phokasub. Thailand’s largest retailer will invest in new digital technologies to expand omnichannel platforms in all its business segments and scout for acquisitions, he said.

    Central Retail is controlled by the Chirathivat family, which owns a host of industries from real estate and retailing to hospitality and restaurants. The Central Group in December agreed to buy British department store operator, Selfridges in a joint venture with Austria’s Signa Holding for $5.4 billion, expanding the group’s overseas portfolio.

    Digital technology will play a greater role in Central Retail’s new growth strategy after it saw online sales boom during the pandemic, Yol said. “By delivering experiences that merge online and offline worlds” Central Retail expects to boost the business of its more than 3,600 branded stores, he said.

    “We have already surpassed pre-Covid sales in 2021, and this is without tourists. Once tourists return, any sales we make will only be a bonus,” Yol said, adding the company will look to leverage new technologies across all its businesses in Thailand, Vietnam and Italy to boost sales.

    Shares of Central Retail have rallied almost 16% this year on expectations that easing Thai Covid restrictions and reopening of borders to foreign tourists will help it return to profit. The company reported a net loss of 2.3 billion baht for the nine months ended Sept. 30, more than double from a year earlier. It’s yet to report full-year earnings for last year.

  • Central Retail sales rebound to 90 per cent of pre-Covid levels

    Central Retail sales rebound to 90 per cent of pre-Covid levels

    Thai group Central Retail says it achieved 90 percent of its pre-Covid sales performance in the March quarter, the result of what CEO Yol Phokasub described as “thriving on steadily regaining balance” during a time of challenges and uncertainties”.

    First-quarter sales were down 9.7 percent to US$1.56 billion, however, net profit was down 48.4 percent to $14.65 million.

    In a statement, the company said that considering the semi-lockdown situation resulting from the second and third waves of the pandemic – when most businesses stopped trading – the impact on the retail market was more severe than the previous year.

    Phokasub said the company was able to take advantage of a broad portfolio of retail brands which enabled business agility during the Covid crisis, including synergy between the Central and Robinson department stores. It also benefited from the expansion of the Tops Market both within Thailand and in Vietnam, its Go! Malls concept in Vietnam and the recent acquisition of the B2B omnichannel books and stationery business.

    He said that during the year ahead Central Retail plans to increase work efficiency and productivity through technological development and strong cash flow while looking for new business ventures to diversify its portfolio.

    “Central Retail’s long-term vision and business plan before the Covid-19 pandemic remain unchanged, and that is to achieve sustainable and profitable growth.”

  • Central Retail Vietnam revenues surpass US$1.1 billion after rapid expansion

    Central Retail Vietnam revenues surpass US$1.1 billion after rapid expansion

    Thai retail conglomerate Central Group plans to cover 90 percent of Vietnam’s provinces within five years via subsidiary Central Retail.

    Central launched in Vietnam in 2012, initially with fashion merchandising before taking stakes in local electrical appliance chain Nguyen Kim (which it now owns 81.5 percent of) and Lanchi Mart supermarket in 2015.

    As of last month, Central Retail Vietnam operates 35 malls (most anchored by Big C hypermarkets) and 230 stores across 39 out of the nation’s 63 provinces. It is the largest multinational retail company operating in Vietnam with a customer base of about 12 million and revenues of US$1.17 billion last year. The country already accounts for about 20 percent of the parent company’s sales.

    The company’s new Go! brand already encompasses 32 hypermarkets (Hyper Go!) and seven supermarkets (Super Go!). Six more Go! hypermarkets are scheduled for Tra Vinh, Quang Ngai, Buon Ma Thuot, Ben Tre, Ba Ria, and Thai Nguyen, while four more Big C stores will soon be rebranded to Go!”

    Central Retail Vietnam CEO Philippe Jean Broianigo says Central Retail will continue to focus on growth via outlet expansion.

    The company is bullish about its prospects in Vietnam which recorded 3.82-per-cent economic growth in the first quarter of this year despite a four-week shutdown of most retail from late March. No community transmission of Covid-19 has been recorded since April 16.

    The plan includes technology and omnichannel platform developments and achieving business synergies with leading partners such as Grab and GrabMart to launch delivery services for customers.

    “Central Retail will have a full multi-format platform that can seamlessly reach customers via offline and online channels,” said Broianigo.

    Central Retail CEO Yol Phokasub said the company is “constantly seeking expansion” and will continue to invest in Vietnam because it foresees the size of the potential.

    “By staying true to our vision, we will drive the country’s prosperity simultaneously with improving the quality of life of Vietnamese people.”

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  • Central Food Hall employs robot in coronavirus fight

    Central Food Hall employs robot in coronavirus fight

    Thai supermarket Central Food Hall has begun using UV-C Disinfection Robots to sterilize stores in a move to combat coronavirus transmission.

    The firm is the first supermarket in the region to implement disinfection robots, certified by the WHO and CDC to sanitize areas around 360 degrees to destroy more than 99.99 percent of all pathogens within seconds.

    The robot is currently being deployed at Central Food Hall Central Chidlom while the store is closed. Plans are afoot to introduce robots at other Tops Market and Central Food Hall branches in the interests of employee and customer safety.

    UV-C light is considered to be without harmful side effects on the food and products in the store. The technology has been in use for more than three years in Thai hospitals, factories, companies, hotels, schools and other places that need effective disinfection.

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  • Thailand’s Central Pattana to waive the rent for retailers

    Thailand’s Central Pattana to waive the rent for retailers

    Thai retail property developer Central Pattana is to waive rent for tenants affected by the government’s shutdown order.

    The company said in a statement that it will waive the rent for tenants who have been ordered to shut by authorities and offer rent reductions ranging from 10 percent to 50 percent for stores that remain open.

    “We are confident that with complete cooperation from all parties we will overcome this challenge together,” said Precha Ekkunakul, president and CEO of Central Pattana. “We are ready to support every business to resume its normal operations and to help coordinate government aids for all sectors who have been affected during this crisis.”

    The company has also organized call centers, pick-up counters and drive-through pickup points to support its food-and-beverage partners and customers.

    Central Pattana said it plans to adjust its upcoming projects and is working on a plan to resume business operations after the crisis is resolved, in order to ensure its growth and return shareholders’ investment.

    Central Pattana has temporarily closed all of its 15 shopping centers in Bangkok and 13 out of 18 shopping centers in the provinces. Essential services including supermarkets, pharmacies and convenience stores remain open during the closure.

  • Thailand’s Central Retail Group confirms IPO launch

    Thailand’s Central Retail Group confirms IPO launch

    Central Group subsidiary Central Retail Corporation, aims to raise up to THB81.1 billion (US$2.7 billion) in an initial public offering (IPO), which will be Thailand’s largest yet.

    Central Retail’s IPO price will range between THB40 to 48 per share. The company will sell up to 22.1 per cent of its stock or 1.69 billion shares with an overallotment option of 169 million shares. Investors can subscribe from February 6.

    Central Retail’s planned offering would be Thailand’s largest on record ahead of the BTS Rail Mass Transit Growth Fund, which raised US$2.1 billion in 2013.

    Funds raised will be used to expand its domestic and international businesses and to pay off debt, according to a spokesperson.

    As part of its listing plans, Central Group will delist its retail subsidiary Robinson PCL and offer a share swap to Robinson’s existing shareholders with no cash alternatives. The share swap will start in late January.

    Central Retail achieved sales of $3.46 billion in the six months to June. Some 43 per cent of that came via its food business, 34 per cent from fashion and the remainder from hardware.

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  • Sephora Hong Kong Reopening Soon

    Sephora Hong Kong Reopening Soon

    Makeup superstore Sephora has confirmed its widely anticipated return to Hong Kong in physical store form.

    The LVMH-owned cosmetics retailer will sublease a 4000sqft space in the Zara store at IFC Mall in Central, nine years after it closed its last store in the territory.

    Despite its physical absence in the market, Sephora Hong Kong has continued to sell products online to loyal customers.

    The last Sephora Hong Kong store traded for just two years in Mong Kok, closing in 2010. At the time, retail commentators said the brand failed due to poor store location, lacklustre marketing and high rents.

    Sephora is popular in Mainland China and has stores across Southeast Asia trading profitably, especially in Singapore and Malaysia.

    According to news reports in Chinese media, Sephora has subleased the space from Zara for HK$2 million (US$254,800) per month.

  • YSL opens pop-up store to celebrates Valentine’s Day

    YSL opens pop-up store to celebrates Valentine’s Day

    YSL launched a limited store for Valentine’s Day 2019 in Central, Hong Kong, featuring on WhatsApp sticker, photo booth, and games. Obviously, pink and cosmetics are many girls’ favourite. So pink lovers will fall in love with YSL latest limited pop-up store in Central as the store is fully decorated in pink. Not only visitors will have the opportunity to get the cosmetics products, but they will also be able to take Instagrammable photos in front of different props and beautiful background.

    To participate in this event, visitor only need to register online to get a designated QR code and go during the reserved time slot. In addition to taking pretty pictures, visitors can also try YSL new collection of perfumes, blush, and lipsticks.

    One of the most attractive activities is to tailor-made unique WhatsApp stickers.

    In addition, making WhatsApp stickers, printing photos or buying any products in the pop-up provides points for playing the YSL’s clip doll machine. The higher the points, the more opportunities, so you can clip away YSL cosmetics products and take them home.

    The pop-up closes its doors just after Valentine’s Day.

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  • The most expensive place to rent an office in the world

    The most expensive place to rent an office in the world

    Central, Hong Kong’s frenetic business and retail heart, crammed with skyscrapers, swanky malls and luxury hotels, is the most expensive district for renting office around the world. Although the office rent in Hong Kong’s Central district is already the world’s most expensive, and there are more and more companies moving out of the city centre to cheaper locations, prices are likely to remain sky high, or even higher.

    Hong Kong is the key financial centre in Asia, and Central is still the most important financial district in the city. Thus, the office rent in Central district is predicted to increase continuously.

    According to Raymond Chow, the Executive Director for Commercial Property at Hongkong Land, Central’s largest office landlord, “Central is still the home to the city’s most influential institutions, such as the Securities and Futures Commission, The Stock Exchange of Hong Kong and Hong Kong Monetary Authority, the connectivity of Central remains a magnet for leading players” he added,  “It is in a way that other districts cannot compare.”

    In June 2018, Central was ranked the most expensive office location in the world for the third year by global commercial real estate firm CBRE, thanks to the strong demand from mainland tenants, who would like to expand their business outside China and seeking Grade A office space.

    Office space in Central now costs USD $306 per square foot, 30 per cent higher than the second highest area, London’s West End, at US$235 per square foot.

    Of the top 10 most expensive premium rental locations, six were in Asia, including Shenzhen, Beijing, Tokyo, and Delhi.

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  • JD.com e-commerce joint venture launches officially in Thailand

    JD.com e-commerce joint venture launches officially in Thailand

    The JD Thai JV with Central Group has been formally launched this week under the brand JD Central.

    “Our partnership with Central Group – a one-of-a-kind union between China’s biggest retailer and Thailand’s strongest retail player – will provide Thai customers with a truly world-class e-commerce experience and guarantee 100 per cent product authenticity,” said Vincent Yang, CEO at JD Central.

    The new online platform officially debuts today, September 28, and will further extend JD’s footprint in the Southeast Asia region, which already includes an established e-commerce platform in Indonesia and a strategic investment in Tiki, Vietnam’s leading B2C e-commerce business.

    Central Group, Thailand’s largest retail conglomerate, offers JD instant critical mass through customer loyalty program and brand recognition, as well as merchandise. The site has been in testing mode since June 18, offering both direct sales and marketplace models. Pre-launch sales were described as having “exceeded expectations”.

    The JD Thai JV site includes categories for electronics, digital products, fashion, home appliances, books and music through to groceries, cosmetics, toiletries, beverages and processed foods.

    During the pre-launch phase, about 80 per cent of shopper accessed the site via phones, with FMCG products, mobile phones and fashion the most popular items purchased. Products from Chinese companies have proved especially popular, with leading brands including Xiaomi, Huawei, OnePlus and Lenovo.

    Yang said the JD Thai JV will “transform the local market and unlock the boundless consumer potential of the nation’s large population, with the ultimate goal of becoming the most trusted brand in Thailand”.

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  • Who’s who of retail CEOs at Consumer Goods Forum

    Who’s who of retail CEOs at Consumer Goods Forum

    Next month’s Consumer Goods Forum to be held at the Marina Bay Sands will feature a ‘who’s who’ of international retail leaders.

    This year marks the first time in a decade the event is being held in Asia. Running from June 12-15, it is themed Consumer Centricity in a Data-Driven World.

    Industry leaders including Alibaba CEO Daniel Zhang, Dairy Farm International CEO Ian McLeod, Coca-Cola Company CEO James Quincey, Majid Al Futtaim Holding CEO Alain Bejjani, Ahold Delhaize CEO Dick Boer, JD international president Winston Cheng, Central Retail CEO Nicolo Galante, Carrefour China president and CEO Thierry Garnier and Metro AG CEO and chairman Olaf Koch are all on the speaking roster.

    Former US Secretary of State Madeleine Albright will deliver a keynote address.

    Consumer Goods Forum MD Peter Freedman says the summit is often described as the most important leadership event on the consumer goods industry’s calendar.

    “The key focus of this year’s conference will be on how to ensure that we continue to keep consumers at the centre of the digital transformation in our industry. In that context we will also be discussing how we can accelerate our work on global positive change, which millennials and younger consumers are so concerned to see. We are delighted to be holding the event in Singapore, one of the world’s leading smart cities, with some of the most digitally sophisticated consumers, and geographically close to so many Asian digital innovations.”

    More than 1000 delegates, from more than 400 leading retailers and consumer goods companies will engage with this year’s theme through sessions focused on stories such as:

    • Investing in the age of disruption;
    • Evolving retail for the smart consumer;
    • The future of work: people & technology;
    • Positive change in action: driving a circular economy;
    • New Retail: creating new value for consumers;
    • Global millennials: the data-driven facts;
    • Executing a digital and omni-channel growth strategy; and
    • Transforming customer experiences through big data.
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