Central Retail unites food businesses across Thailand, Vietnam under new CEO
Thailand’s Central Retail Corporation Public Company Limited (CRC) has announced the integration of its three flagship food business units, including Central Retail Vietnam, under the unified leadership of Central Retail Food Group.
According to CRC's announcement last week, Central Retail Vietnam, which operates GO! malls, GO! hypermarkets, mini go! stores, Tops Market, and Lan Chi mart, is merged with Central Food Retail Company Limited (operating retail brands including Tops, Tops Food Hall, Tops Daily, Tops Online, Tops Care, and MatsuKiyo) and Central Food Wholesale Company Limited (operating Go Wholesale).
A GO! mall in Vietnam. Photo courtesy of Central Retail.
Following the restructuring effective from March 1, Stephane Coum was appointed as CEO to oversee CRC’s entire food business portfolio.
Speaking of the restructuring, Suthisarn Chirathivat, CEO of CRC, said that the strategic integration of the three flagship food units under Central Retail Food Group is another milestone for CRC under its “new heights, next growth” strategy.
The food business is a vital growth engine for Central Retail, consistently driving growth across retail and wholesale formats in both Thailand and Vietnam, he stressed.
In the first nine months of 2025, Central Retail posted revenues of nearly THB35.48 billion ($1.09 billion) in Vietnam, down 6.6% year-on-year due to exchange rate fluctuations.
The total Vietnam revenues included THB31.6 billion ($975.18 million) from food products, THB7 million ($216,080) from fashion products, and THB3.88 billion ($119.77 million) from hardline products such as home appliances and electronic items.
According to CRC's three-year strategy, capital expenditure for Vietnam will double compared with the previous plan, supporting the rollout of 10-12 new GO! shopping malls and 23-25 go! supermarkets over the next three years.
Central Retail is targeting annual growth of more than 10% in the market. The goals represent a significant upgrade from its earlier targets of opening 4-6 malls, 12-15 supermarkets, and achieving 5-6% growth.
The retailer currently operates 330 stores across 26 provinces and cities in Vietnam.
- Related News
- Read More
Vietnam banks chase record profits despite tighter credit caps squeezing growth
Vietnam’s 2026 annual general meeting (AGM) season for banks is closing with a clear paradox: lenders are targeting record profits worth tens of trillions of dong (VND10 trillion = $379.38 million), while the key growth driver – credit expansion – is being tightened.
Banking - Mon, April 27, 2026 | 1:23 pm GMT+7
Goertek Vina injects extra $20 mln into northern Vietnam plant
Goertek Technology Vina Company Limited, a subsidiary of Chinese electronics giant Goertek, plans to pour an additional over VND527 billion ($20 million) into its project in Vietnam's northern province of Bac Ninh.
Industries - Mon, April 27, 2026 | 1:04 pm GMT+7
SK Group eyes AI data center tied to $2 bln LNG power project in central Vietnam
South Korea’s SK Group is stepping up its presence in Vietnam with plans to develop an AI data center linked to the Quynh Lap LNG-to-power project in Nghe An province, as it pushes its “AI full-stack” strategy overseas.
Industries - Mon, April 27, 2026 | 9:45 am GMT+7
State divestment from Viglacera to be delayed
The Ministry of Construction will postpone plans to divest state capital from Viglacera (HoSE: VGC) - Vietnam's leading construction material producer and industrial real estate developer, citing valuation challenges and the need to safeguard state assets, a senior official said.
Companies - Mon, April 27, 2026 | 8:05 am GMT+7
Many Vietnamese firms post surging Q1 profits, some up dozens of times year-on-year
First-quarter 2026 earnings at many Vietnamese companies rose sharply despite market volatility, with some firms reporting profits dozens of times higher than a year earlier.
Companies - Mon, April 27, 2026 | 8:00 am GMT+7
Central Vietnam province approves conversion of production forest land for Sun Group's $254 mln urban project
Authorities of Quang Ngai province have approved the conversion of nearly 83 hectares of production forest land for the development of an urban area project backed by real estate giant Sun Group.
Real Estate - Sun, April 26, 2026 | 1:46 pm GMT+7
Ex-banking tycoon Tram Be re-emerges in infrastructure projects in southern Vietnam
Tram Be, once a famous banking tycoon in Vietnam, has resurfaced in the corporate arena, appearing as a representative of Ham Giang Construction Co. Ltd. at a working session with Vinh Long province authorities on Thursday.
Companies - Sun, April 26, 2026 | 8:09 am GMT+7
Techcombank keeps real estate bad debt below 1%, fully recovers principal: chairman
The chairman of Techcombank said the lender has maintained non-performing loans (NPLs) in the real estate segment below 1%, with full principal recovery even on impaired loans.
Banking - Sun, April 26, 2026 | 8:00 am GMT+7
Posco invests $282 mln in battery materials plant in northern Vietnam
South Korean conglomerate Posco will invest a $282 million battery materials project in Vietnam's northern province of Thai Nguyen, marking its first overseas project in the artificial graphite segment.
Industries - Sat, April 25, 2026 | 10:13 pm GMT+7
Hyundai Rotem eyes Vietnam's North-South high-speed railway project
South Korea’s Hyundai Rotem is seeking to expand its footprint in Vietnam’s rail sector, including potential participation in the country’s planned North-South high-speed railway.
Infrastructure - Sat, April 25, 2026 | 6:58 pm GMT+7
Masan shares undervalued by 60%: CEO
Masan Group’s MSN shares are trading at a steep discount to intrinsic value and the corporation targets stronger cash generation over the next decade, said CEO Danny Le.
Companies - Sat, April 25, 2026 | 2:33 pm GMT+7
Vietcombank aims to complete private placement in 2026
The chairman of Vietcombank said the state-controlled lender is working with potential investors and is in detailed negotiations, with a view to executing a private placement in 2026, subject to market conditions.
Banking - Sat, April 25, 2026 | 9:35 am GMT+7
PVOIL targets 30% profit hike, expands into aviation fuel and EV charging
PVOIL, a subsidiary of state-owned Petrovietnam, has set a target of stronger profit growth in 2026 as it diversifies beyond traditional fuel retail into aviation fuel and electric vehicle (EV) charging infrastructure.
Companies - Sat, April 25, 2026 | 8:17 am GMT+7
Foxconn accelerates investment in Vietnam, moves toward humanoid robot manufacturing
Taiwan’s Hon Hai Precision Industry (Foxconn), a major Apple supplier, is signaling a deeper expansion in Vietnam as it pushes beyond traditional electronics manufacturing into higher-value automation, including industrial humanoid robots.
Industries - Fri, April 24, 2026 | 6:44 pm GMT+7
Century Synthetic Fiber Corp. targets 38% profit growth, bets on recycled fiber
Century Synthetic Fiber Corporation (HoSE: STK) aims for a 37.7% increase in 2026 pre-tax profit to VND128.5 billion ($4.88 million), driven primarily by its recycled fiber segment and a newly operational plant invested by its subsidiary Unitex.
Companies - Fri, April 24, 2026 | 5:31 pm GMT+7
Vietnam developer TTC Land eyes steady cash flow with sister firm acquisition
Saigon Thuong Tin Real Estate JSC (TTC Land), a subsidiary of multi-sector conglomerate TTC Group, is moving to secure stable, recurring revenue through the acquisition of Thanh Thanh Nam (TTN), another TTC Group member.
Companies - Fri, April 24, 2026 | 3:31 pm GMT+7
