Big C Vietnam to change name next year

By Bangkok Post, Toan Dao June 12, 2016 | 07:57 pm PT

Thailand’s Central Group plans to change the name of its recently acquired Big C Vietnam next year, according to a report on Bangkok Post Monday.

“Central is in the process of changing the name of Big C discount stores in Vietnam next year even though it has the rights to carry the Big C name for another decade,” the daily said while reporting its interview with Central’s CEO Tos Chirathivat.

The company wants to add its other retail businesses such as Robins department stores and Nguyen Kim electrical appliance stores to be able to utilize space and become new anchors at Big C stores in Vietnam, Bangkok Post said.

A taxi driver waits for his customers next to the logo of Big-C department store in central Bangkok, March 4, 2016. Photo by Reuters/Athit Perawongmetha

Central Group runs eight business categories in Vietnam with its retail business posting sales of Baht 40 billion ($1.13 billion) in 2015, on par with sales in Europe.

"Twenty years ago, the Vietnamese economy was only 10 percent of the Thai economy. It grew to 30 percent of the Thai GDP 10 years ago. Now its economy is half of ours and they will be equal over the next decade," Tos said. He added that Vietnam now has a lot of opportunities in retail sector and Central will focus more on the country as Europe is a mature retail market. As a result, the company will temporarily delay its plans to acquire new retail stores in Europe.

In the latest move, Central sold its 25 percent stake in Big C Supercenter Plc in Thailand for Baht 50 billion ($1.42 billion) in a bid to focus on the operation of Big C Vietnam.

Central announced on April 29 that it had bought Big C’s operations in Vietnam from France's Casino Group at a cost of 1 billion euros ($1.14 billion).

Another Thai company, the consumer goods group TCC Holding Co. Ltd, in January this year completed its acquisition of the Vietnamese operations of Metro for 655 million euros (US$704.1 million).

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