Central Group triples its stores in Vietnam

Central Group, Thailand’s largest retail conglomerate, plans to spend US $500 million to triple the number of its Vietnamese stores (from 250 to 750 units) over the next five years.

The group also intends to expand its range of goods in response to growing consumer demand for non-food items and is testing the viability of brands such as the cosmetics shop Hello Beauty and the DIY store Home Mart.

Central Group has been present in Vietnam since 2011 and is the largest foreign retailer in the country, where it aims to expand by exploiting the fast-growing economy.

According to the World Bank, Vietnam’s middle class currently accounts for 13% of the population but is expected to rise to 36% by 2026.