Central Retail publishes a 5 year vision “CRC OMNI-Intelligence” pushing business towards The Next Era, targeting revenue growth of 11% in 2024.
Mr. said Yon Phoksap, CEO of Central Retail Corporation Public Company Limited or CRC, “Central Retail continues to generate strong growth. Even in the face of disruption from consumer Behavior technology, the advent of Generative AI and the Climate Crisis, but with the perfect ecosystem of Central Retail. flexible Ability to adapt quickly in any situation Strong financial stability from cost control and effective cost management Including being a model organization in sustainability in Asia. It was selected to be a member of the DJSI Dow Jones Sustainability Index and received the ESG SET Score for 2023 at the “AAA” level, which is the highest level in Thailand from the Stock Exchange of Thailand. This makes Central Retail successful and able to maintain leadership in all business groups. In 2024, Central Retail has determined a strategy based on the concept of Leading Excellence and Promoting Sustainability, which is the management of all Central Retail business groups, reinforcing its situation. as number 1. With excellent operational results and performance (Performance Excellence) in all dimensions, including strategies for creating sustainability. to the next level of intensity (Advance Sustainability)”
Central Retail is moving forward into The Next Era with the CRC OMNI-Intelligence vision by bringing AI into every business process, such as creating a Next-Gen Omnichannel that combines Offline and Online platforms together . In order to provide the best user experience It also fully expands the ecosystem from B2C to B2B and integrates AI with HI (Human Intelligence) to enable employees to work faster and more efficiently, such as having Expertise at the forefront your fingers, including Creating an Impact focused on Profit and Planet to grow together sustainably. .
By CRC OMNI-Intelligence includes 5 important strategies (5R) as follows.
1.Revolutionise Core Strength is to improve the strength of the core business. Multi-Format, Multi-Category and Multi-Market, focusing on high growth businesses. Including raising the level of Synergy and doing M&A to add long-term value to the business.
2. Strengthening Financial Soundness means making the financial position strong. and has the most efficient cost control to get better returns and has financial flexibility Based on the 3C management principle (Cash, Cost, Capex)
3.Reinvent Beyond Retail expands the business beyond the retail business, such as becoming an important part in various communities in each category to create a network and long-term value for the Central Retail business, including expanding the ecosystem of B2C to full B2B Ready to keep growing
4.Reimagine Human Capital develops the potential of employees. By combining AI and HI Intelligence together To expand the ability to work customer data analysis and exponential improvement to the omnichannel platform.
5. The Green Impact Rally is about raising the level of the Green Transition by joining the government, the private sector, customers and business partners. Let’s work together to solve the Climate Change problem so as not to lead to a Climate Crisis by reducing energy consumption. Reduce inequality and create a green world to pass on to future generations
From the CRC OMNI-Intelligence vision that Central Retail has identified, it has been expanded to a 2024 plan with performance targets of 9-11% revenue growth, 15-17% EBITDA growth, and capital expenditure. 22,000-24,000 million baht, with operational plans for 2024 as follows:
1.Fashion Group: Development of a flagship Central Department Store, Chidlom branch, to become a World Class Luxury Destination, including expansion of 2 additional branches, renovation and upgrade of 4 more department stores, as well as plans to add quality brands worldwide. and bring brands in Thailand to expand to Vietnam
2. Food Group: Continue to expand GO Wholesale to 7 more branches to become a new destination, The New Choice for Everyone, for all entrepreneurs. Ready to set a goal to expand a total of 40 branches within 5 years and become number 1 Omni B2B in the HoReCa group. There is also a plan to expand a total of 10 Tops branches in Thailand. For Vietnam, there is a plan to open 3 GO! supermarket branches and go! (Mini Go!) 9 more branches, which are considered a Proven Format which has received a good response.
3. Hardline Group: Move forward with the expansion of 9 branches of Thai Watsadu, the renovation of 4 more branches, and the transformation of Nguyen Kim in Vietnam to a more complete level.
4.Property Group: Robinson Lifestyle Shopping Center The branches are continuously developing and improving. As for shopping center GO! In Vietnam, there are plans to expand 3 more branches, aiming to close in 2024 with 42 branches, covering 42 provinces out of 63 provinces nationwide.
“In addition to creating business excellence Sustainability is another core aspect that Central Retail has always given importance to. This year we will take sustainability to the next level. Through operations based on the CRC Care philosophy that is ready to drive the business forward. and taking care of all sectors to grow sustainably together in 360 degrees, such as upgrading secondary cities Be part of building a strong foundation for the Thai economy, uplifting communities and the environment. Through our ongoing projects, improve collaboration with partners. and suppliers Coming together to create sustainability across the ecosystem, etc. All this is key to reinforcing the Central Retail Brand Purpose, which is to be Central to Life, the center of everyone’s life forever,” Mr Yon concluded.
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