Page 35 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

Understanding the changes in customers’ tastes and preferences has always been a key drive of the Company’s
growth since Central Retail was founded as a single small shop house in Bangkok in 1947. Later, Central Retail
introduced Thailand’s first full-scale department store to serve customers’ needs for shopping experiences with a wide
and complex range of products. When Thailand’s household income increased, Central Retail decided to expand
the business beyond Bangkok, starting with its first department store in Chiang Mai in 1992. Until now, Central
Department Store and Robinson Department Store ultimately have owned 74 stores across Thailand (Updated as
of 31 December 2021) Central Retail has become a pioneer in the new retail formats and the distribution business
of specialty products such as electronics, sports apparel, DIY home improvement and decoration, and health
products focusing on vitamins and dietary supplements, etc. In addition, Central Retail has continued its success
with the expansion the multi-format retailing business to Vietnamese with the customer centric strategy. Central
Retail developed retail plazas, hypermarkets and specialty stores to penetrate the market in the urban and rural
areas of Vietnam, and also built the business model distinctive from that of Thailand with the business strategy
to satisfy the needs of Vietnamese customers. For Central Retail’s business in Italy, Central Retail established 2
flagship department stores in Milan and Rome and 2 mini flagship stores in Turin and Florence to cater the needs
of customers with high purchasing power and tourists. Furthermore, Central Retail operates 5 other department
stores in major cities around the country to serve the customers’ need in broader scales with shopping experiences
of a wide variety of products and premium selections. Last but not least, Central Retail has become a pioneer of
omnichannel retailing in all mentioned above countries, emphasizing its strong ambition to offer services through
the customer focused approach.
Central Retail believes it can satisfy the full spectrum of the customers’ shopping needs through comprehensive
merchandise offerings and its diversified portfolio of retail banners. Central Retail’s merchandise mix addresses the
majority of consumer expenditure categories, including consumer staples like food and clothing to discretionary
items like luxury fashion, electronics and home improvement. Through consistent network expansion, Central Retail
has broadened its customer base to encompass all income levels and age groups, and extensive store footprint has
brought Central Retail closer to where the customers live, work and entertain just as they are increasingly seeking
out greater convenience in their shopping experience. Central Retail operates under a diverse slate of retail banners
which can be divided into 4 segments based on business units, including
(1) Hardline banners, such as Thai Watsadu, Baan & Beyond* / BNB Home, Power Buy, OfficeMate, B2S, MEB,
and Nguyen Kim
(2) Food banners, such as Central Food Hall, Tops market, Tops daily, FamilyMart, Big C / GO! Vietnam, Lan Chi Mart
and go!
Note: *Under rebranding to BNB Home
Annual Report 2021 (Form 56-1 One-Report) 35