central retail Archives - Indo Thai News Channel - Travel l Culture l News & Event l Food

Central Retail Becoming the World’s Leading “Digital Retailer”

Indo Thai News — Thu, 07 Jul 2022 08:22:13 +0000

Bangkok: July 7^th, 2022 – Central Retail Corporation Public Company Limited, or CRC, continues to drive business on a global level, constantly reinforcing its market presence as Asia’s leading retailer in pioneering innovation. The Group’s success is guaranteed by 7 prestigious awards in different aspects such as omnichannel and O2O customer experience, Central App (Retail App of the Year), and Tops market (Supermarket of the Year), from 2 international institutions: International Finance Awards and Retail Asia Awards. This demonstrates the company’s success in digital transformation to enhance the business and deliver flawless customer experience.

Being led by a vision that strives to strengthen business, Central Retail has witnessed a solid performance owing to a strong potentiality in its adaptability, proactive work approach, elevated omnichannel platform, and keen eyes for untapped opportunity with partners. The company’s entry into the luxury market corresponds well with universal trend and current consumers’ interest. Its achievement is proven by sales thriving amidst the face of challenges and uncertainties. Consequently, Mr. Yol Phokasub, Chief Executive Officer of Central Retail was recognized with Luxury Retail CEO award by International Finance, UK leading financial and business magazine,to commend accomplishments of firms and executives from various industries across Europe, Asia, and the Middle East.

Central Retail, with its CRC Retailligence strategy, has comprehensively transformed and incorporated the ‘Digital First’ mindset and culture into its operation. As an omnichannel first mover, the company truly knows the 5.0 Omni-customers and never ceases to improve its ‘Customer-Centric Omnichannel Platform’, connecting offline store with the digital platform to meet customers’ ever-changing needs. It also revamps services at all touchpoints, expands new branches, and enhances the stores to modernize offline channels, hoping to deliver a seamless shopping experience. As a result, Retail Asia, Singapore’s leading business magazine, has endorsed this organizational excellence and awarded Central Retail in 2 categories:

O2O Customer Experience of the Year: reflecting the company’s omnichannel leadership and its ambition in reaching the Next-Gen Omnichannel and being the world’s #1 Omni-Centric Retailer.
Digital Initiative of the Year: Central Retail’s blockchain-based digital currency C-Coin project was initiated to encourage employees in adopting new technology, and further developed into internal recognition award. The employees awarded with the C-Coin can use the reward to pay for products or services at participating stores under Central Group, positively inspiring a cashless environment within the firm.

From the remarkable commitment in continually enriching customer experience, subsidiaries under Central Retail have also received the other 4 major awards from Retail Asia.

Central Department Store under Central Retail, the #1 department store in Thailand, proudly received Retail App of the Year award for ‘Central App’ – an elevated shopping experience application that links physical department store with the world of digital to respond to each shopper’s lifestyle and preferences.

Tops market received Supermarket of the Year award by uplifting new store format and becoming the #1 premium lifestyle supermarket in Thailand. Quality products sourced and selected from different regions around the globe are displayed creatively to create new shopping experiences and fulfill fast-changing customers’ demands. Besides, Central Food Retail also won Omnichannel Strategy of the year award for creating the seamless shopping experiences through extensive multi-omnichannel platforms as well as physical stores, underpinning its position as leading Thai supermarket retailer acknowledged on an international stage.

Supersports under Central Retail won Sporting Goods Retailer of the Year award, emphasizing its position as a leading sporting goods retailer. It has gained the trust of leading sport brands worldwide, being the center of global brands with a variety of sporting products. Digital technology has been leveraged to transforming its services and omnichannel to reach new generation of customers, providing exercising solutions during COVID-19 pandemic, contributing to Supersports’ leaping growth.

“I would like to express my gratitude to both International Finance and Retail Asia for recognizing our effort. Winning these awards has proven our ability and commitment, which could not have happened without the collaboration from our customers and partners who always lay their trust in us, as well as our employees who have altogether helped driving the business forward. This success is built truly on our determination. As Asia’s leading Digital Retailer, we will continually develop our omnichannel platforms by focusing mainly on our customers, reshaping retail industry as well as moving forward to being the world’s leading ‘Digital Retailer’, under our compliance to corporate good governance, balancing the interests of all stakeholders as well as encouraging the community to sustainably grow with us.” Mr. Yol said.

The post Central Retail Becoming the World’s Leading “Digital Retailer” appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.

Central Retail hits record-high performance in Q4 yielding THB 0.30 in dividends

Indo Thai News — Sat, 26 Feb 2022 05:54:59 +0000

Central Retail hits record-high performance

Central Retail hits record-high performance in Q4, turning 2021 into a profitable year and yielding THB 0.30 in dividends. Chief Executive Officer of Central Retail Corporation PCL (CRC) Mr. Yol Phokasub announced “Central Retail has achieved success hitting record-high in Q4/2021 performance, with 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 a profit of THB 277 million. EBITDA THB 20,059 million and 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.”

Central Retail’s 2021 achievements

Thailand

Sales in 2021 were greater than pre-pandemic levels, excluding tourist spending. Central Retail’s Multi-Category Platform, which provides portfolio flexibility and adaptation to changing client demands, is responsible for this success. In 2021, the hardline category was the emphasis, as it aligned with consumer tastes during the pandemic, allowing the segment to rapidly increase and boost sales to levels that were 26% higher than pre-pandemic levels. Five new Thai Watsadu locations have opened, as well as new store formats. WOW banner of 15 branches in three months in 2021, all of which were well greeted by clients, highlighting the company’s leadership position in the Omnichannel Home Improvement Platform. In addition, Central Retail has completed the acquisition of COL, which includes OfficeMate and B2S, and is planning to list MEB, the market leader in the e-book sector and a novel website for Thais, on the Thai stock exchange in 2022. Central Retail retains its #1 status as Thailand’s Best Food Destination and plans to expand its company by establishing 46 new locations in 2021 to further solidify its leading position in the category. Influential Brand Singapore and Neo Target, a pioneer in corporate reputation consultancy in Thailand, also gave Tops Supermarket the Top Influential Brands award. From the end of last year to the first quarter of this year, the corporation established fixed prices for consumer items to relieve consumers’ financial difficulties amid difficult times. When compared to prior quarters in the last two years, the company’s fashion section had the highest levels of growth in the fourth quarter, and the category is currently growing well.

Vietnam

Despite the impact of COVID-19, Central Retail continued to invest in renovations and company expansion to maintain its position as a leader in the hypermarket and lifestyle mall industry in both urban and rural locations. The firm also entered the food industry by creating the small go! store concept, which is aimed at mass customers, as well as Tops Market, which caters to all client segments in Vietnam. Despite the fact that Vietnam had a challenging scenario during the pandemic, which led stores to close in the second and third quarters, our sales increased by 8% in 2019, and our EBITDA increased by 9%.

Italy

Rinascente’s three flagship stores in Milan, Florence, and Rome were renovated by Central Retail. The modifications took place during the Italian shutdown and were finished in time for the reopening of the border in mid-2021, which drew an increasing number of consumers and resulted in great company development. Domestic consumers’ buying power, along with the return of European visitors, bolstered sales growth in the fourth quarter, matching 99 percent of pre-pandemic levels. In Italy, the company’s yearly revenues increased by 30% year over year, while EBITDA increased fourfold.

Property

Renovated and opened new branches in Thailand and Vietnam, including GO! lifestyle mall in Vietnam and Robinson Lifestyle in Thailand, for a total of six locations. The occupancy rate at Robinson Lifestyle was above 90%, and the number of consumers has been steadily growing. By the end of 2021, Central Retail will have 69 locations throughout Robinson Lifestyle, Tops Plaza, and GO! lifestyle malls, totaling approximately 650,000 square meters of net leasable space, up 10% from the previous year.

Technology and Digital Transformation

By implementing a digital-first mindset and developing on the most complete omnichannel platforms, Central Retail improved technological integration across the organization and its employees, safeguarding Central Retail’s distinctive leadership in omnichannel retailing. As a consequence of these efforts, omnichannel sales now account for 20% of overall revenues, representing a 109 percent increase. To enable rapid growth and consolidate its position as the retailer of the future, the firm expanded on the CRC Data Ecosystem and established new technology platforms for every business category.

“2021 was the year that put Central Retail through rigorous-resilience tests. With antifragility in the DNA, we were able to thrive amid the widespread uncertainty to emerge first and stronger. Through this, we have proven that the ability of the organization and our people to adapt and move quickly is key in overcoming obstacles. I would like to express my gratitude to our customers, partners, and our employees who joined forces in driving leaping growth for the company. We are ready to charge ahead with the CRC Retailligence strategy in full force by harnessing the power of digital technologies to enhance our omnichannel platforms, and accelerating business growth in Thailand and internationally. We also aim to move ahead in unity with world-class partners to seize new business opportunities and tap into changing consumer needs and global trends. And in everything we do, we stand by the commitment to inclusive growth, driving collective and sustainable success with all our partners,” concluded Mr. Yol.

The post Central Retail hits record-high performance in Q4 yielding THB 0.30 in dividends appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.