CRC flourishes early this year, closing COL deal kicking off 1st project - "B2S Think Space" at Central Chidlom

Tuesday 23 February 2021 10:36
Central Retail Corporation Public Company Limited (CRC) closed its deal to acquire the business of COL Public Company Limited (COL) on 22 February 2021. The 12.16-billion-baht acquisition will help enhance competitiveness in the hardline segment of Central Retail. The company also boasted its position as the market's first mover by launching the new concept store, "B2S Think Space", at Central Chidlom, as the exciting landmark that caters for all lifestyles of customers of the new generation.
CRC flourishes early this year, closing COL deal kicking off 1st project - B2S Think Space at Central Chidlom

Yol Phokasub, Chief Executive Officer, Central Retail Corporation Public Company Limited, said, "Central Retail's acquisition of COL is an important move to further strengthen the retail comprehensiveness of Central Retail. COL has been the established leader in the business of office supplies, books, entertainment media, lifestyle products and e-books under the brands of OfficeMate, B2S and meb e-book with numerous sales channels namely stores, websites, Line Store, Drive Thru, Call Center, mobile application and e-ordering. It will help boost the growth target via Central Retail's omnichannel platform. Besides, COL's strong customer base which covers new generation customers (B2C) and corporate customers (B2B) through over 500,000 local companies that have subscribed to OfficeMate catalogues makes perfect the retail platform of Central Retail that can now meet all demand of all groups of customers.

Under Central Retail's management, the first and grand project was launched by kicking off the new form of concept stores, "B2S Think Space". The flagship store in an area of over 1,000 square meters on the 6th floor of Central Chidlom department store creates the new phenomenon of shopping. It features the book zone with the "BOOK CAVE" concept, the large landmark cave storing more than 10,000 book items for customers to explore. It is also the hub of stationery and art tools that fulfill the requirements of all lifestyles. Customers can conveniently purchase any of over 60,000 product items via an e-ordering system that delivers products directly from warehouses. This year, Central Retail expects the sales of B2S to grow by 20-30 per cent and plans to turn main B2S branches out of 130 branches in Bangkok and major cities into B2S Think Space to offer new experiences to customers, provide communities with learning centers and expand its customer base.

"This is only one part of forward steps to expand the business of Central Retail. In 2021, the company will further widen the variety of its products and services and develop the omnichannel platform to meet customers' demand as much as it can. Besides, I would like to take the opportunity to welcome staff of OfficeMate, B2S and meb e-book to be the members of our loving family of Central Retail, who will collaboratively strengthen Central Retail and bring it to sustainable growth," Yol concluded.

About Central Retail
Central Retail Corporation Public Company Limited (Central Retail) is the retail leader in Thailand and the flagship company at the roots of Central Group. It has a network of 3,831 branded stores (as of 30 September 2020) offering Multi-category products through Multi-format channels such as department stores, convenience stores, specialty stores, supermarkets, hypermarkets, plazas and online sales through omnichannel platforms. Central Retail business covers fashion, including Central Department Store, Robinson Department Store, Robinson Lifestyle Center, Supersports, Central Marketing Group (CMG) and Rinascente. Hardline comprises Thai Watsadu, Baan and Beyond, Power Buy and Nguyen Kim. Food comprises Tops Market, Tops Daily, Tops Plaza, Central Food Hall, Family Mart, Big C/GO! and Lanchi Mart. As of 30 September 2020, Central Retail has a presence in 3 countries, comprising Thailand, with a total 1,952 stores in 55 provinces and operations in Italy and Vietnam adding another 136 outlets (as of 30 September 2020).

Source: FleishmanHillard Thailand