Customers shop at Big C Thang Long in Hanoi. Photo: Minh Tuan/BizLIVE
Thai retail giant Central Group
has announced a new business plan under which it targets to double the number of supermarkets in Vietnam to around 70 and develop commercial complexes from now to 2021.
The Thai firm plans to spend $30 million to turn 13 current outlets into commercial complexes in the next five years, aiming to double the leasing floor space from 470,000 square meters presently.
Central Group in April 2016 acquired the Big C
chain from French retailer Casino Group for $1.14 billion in an effort to tap into Vietnam’s fast-growing purchasing power. Started in 1998, Big C is one of the largest retail chains in Vietnam, attracting some 50 million customers per year.
Present in Vietnam since 2011, Central Group has been expanding its retail businesses to electronics, sport wear, fashion, e-commerce and hospitality.
The group last year acquired a 49% stake in Vietnamese electronics retailers Nguyen Kim Trading, which has a network of 21 stores across the country.
Earlier this year, the Thai conglomerate announced the purchase of online fashion marketplace Zalora
’s operations in Vietnam.
In addition, it now runs Robins department stores, SuperSports sport fashion stores, Marks and Spencer fashion stores and the Lan Chi Mart chain.