Thailand’s Central Retail to Invest $3 Billion to Double Revenue
Shoppers ride escalators at the CentralWorld shopping mall in Bangkok, Thailand.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
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.