Thai retail giant Central to invest $500m in Vietnam expansion

Nguyen Hue, Vietnam. Photo: Peter Nguyen/unsplash

Thai retail conglomerate Central Group plans to invest a total of $500 million over the next five years to expand its Vietnam operations.

The retail major is looking at establishing 720 stores in Vietnam by 2022, almost thrice the current 250 stores, according to Thai media reports.

“The digital lifestyle has played a vital role in the rapid growth in its economy, infrastructure and education, and this has resulted in increased domestic household income,” Philippe Broianigo, chief executive officer of Central Group Vietnam and Big C Vietnam, said. “Central Group Vietnam is looking for only the best to serve Vietnam customers across all formats, both offline to online, to meet their needs.”

Established in July 2011, Central Group Vietnam acquired BIG C Vietnam from the French retailer Casino Guichard-Perrachon SA in April 2016. The deal was said to be worth as much as $1.05 billion.

Currently, the group has become the largest foreign retailer in Vietnam with five core units: Big C shopping mall, Food Store, Fashion Store, Hardline Store and Online Platform providing omnichannel and e-commerce services.

It employs more than 17,000 people, serving over 175,000 daily customers in Vietnam.

Also Read:

Thai conglomerate Central Group mulls IPO for retail arm

Vingroup nears deal to acquire Vietnamese mobile retailer Vien Thong A

Vietnam: Central Group takes over Big C ops from French Casino for $1.05b

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.