Central Retail announces 5-year vision “CRC OMNI-Intelligence” pushing business towards The Next Era, targeting 11% revenue growth in 2024.
Mr. Yon Phoksap, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC, said, “Central Retail continues to create strong growth. Even in the face of disruption from technology Consumer behavior, the arrival of Generative AI and Climate Crisis, but with Central Retail’s perfect ecosystem. flexible Able to adapt quickly in any situation Strong financial stability from cost management and control costs effectively Including being a model organization in sustainability in Asia. It was selected to be a member of the Dow Jones Sustainability Index DJSI and received the SET ESG Rating 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 every business group. In 2024, Central Retail has set a strategy based on the concept of Leading Excellence and Advancing Sustainability, which is the management of all business groups of Central Retail, reinforcing its position as number 1. With excellent operating results and performance (Excellence Performance) in every dimension, including strategies for creating sustainability. to the next level of intensity (Advance Sustainability)”
Central Retail moves forward towards 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. To provide the best experience to consumers 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, like having Expertise at your fingertip, including Create Impact that focuses on both Profit and Planet to grow together sustainably.
By CRC OMNI-Intelligence consists of 5 important strategies (5R) as follows.
1.Revolutionise Core Strength is to enhance the strength of the core business. Multi-Format, Multi-Category and Multi-Market, focusing on businesses with high growth. Including raising the level of Synergy and doing M&A to add long-term value to the business.
2.Reinforce Financial Resilience means making the financial position strong. and have the most efficient cost management to get better returns and has financial flexibility Based on the 3C management principle (Cash, Cost, Capex)
3.Reinvent Beyond Retail is expanding 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 Central Retail’s business, including expanding the ecosystem from B2C. to full B2B Ready to continue scaling up
4.Reimagine Human Capital is developing the potential of employees. By combining the Intelligence of AI and HI together To expand the ability to work customer data analysis and exponential enhancement of the omnichannel platform.
5.Rally Green Impact is about raising the level of Green Transition by joining forces with the government, 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 use. Reduce inequality and create a green world to pass on to future generations
From the CRC OMNI-Intelligence vision that Central Retail has laid out, it has been expanded into a 2024 plan that has performance targets of revenue growth of 9-11%, EBITDA growth of 15-17% and investment budget. 22,000-24,000 million baht, with operational plans for 2024 as follows:
1.Fashion Group: Development of Central Department Store Flagship store, Chidlom branch, to become a World Class Luxury Destination, including expansion of 2 additional branches, renovation and upgrade of another 4 department stores, as well as plans to add world-class brands. and bring brands in Thailand to expand to Vietnam
2. Food Group: Continuing to expand GO Wholesale to another 7 branches to become a new destination, The New Choice For All, 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! hypermarket branches and go! (Mini Go!) another 9 branches, which are considered Proven Format that have received a good response.
3. Hardline Group: Move forward with the expansion of 9 Thai Watsadu branches, renovate another 4 branches, and transform Nguyen Kim in Vietnam to a more complete level.
4.Property Group: Robinson Lifestyle Shopping Center There is continuous development and improvement of branches. As for the GO! shopping center In Vietnam, there are plans to expand another 3 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 To be a part in building a strong foundation for the Thai economy, uplifting communities and the environment. Through our ongoing projects, enhancing cooperation with partners. and suppliers To come together to create sustainability throughout the ecosystem, etc. All of which is the key to reinforcing Central Retail’s Brand Purpose, which is to be Central To Life, the center of everyone’s life forever,” Mr. Yon concluded.
2024-02-12 06:19:15
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