Central department stores to get facelift funding
The Central department stores, seen throughout Thailand and other countries, may be looking a lot less shabby as the retail giant has approved a 15 billion baht makeover for its stores. Central Department Store Co, under Central Retail Corporation, has approved the funding as part of its efforts to expand the retail business from 2023 to 2027.
Oliver Bron, the company’s chief executive, says 80% of the approved funding will go towards renovations of existing department stores. The remaining 20% will go towards IT upgrades and development. Bron says the move to give the stores a facelift is expected to increase sales by 1.7% over the next five years. The company is also marking its 75th anniversary by starting the campaign “ALL AT CENTRAL.” That campaign has been approved to spend 500 million baht, according to Bron.
“From the very first day, Central has never stopped innovating and exploring new ways to create the best shopping experience for our customers. Under our vision to be ‘the department store for all Thais,’ we aim to be the ultimate destination for an authentic and sustainable ‘Thai House of Brands’ where customers can find the best of Thai and international fashion and home products.”
Bron says the Central department store business has the world’s largest international network, spanning 11 countries, 80 cities and 12 locations. And, he emphasises that the company’s 19 crown jewel properties in the heart of major European cities are something in which to be proud as most have been situated for over a century.
He went further to say that Central Group’s European stores welcomed more than 130 million visitors and over 200 nationalities annually, with more than six million of those visitors being “loyalty” members.
“This is a true testament to the success of the company’s luxury business.”
Over the past decade, Bron says Central has cultivated trust and strong partnerships with all major luxury brands that co-invested with Central in transforming stores into iconic retail destinations that are beloved by both locals and tourists.
SOURCE: Bangkok Post
