In the first nine months of the year, Central Retail – the leading retail group from Thailand – recorded nearly VND 29,000 billion (approximately USD 1.1 billion) in revenue from its Vietnam operations.

According to its Q3 financial report, Central Retail generated 35.3 billion baht in Vietnam (around VND 29,000 billion), a 6% decrease year-on-year mainly due to currency fluctuations. However, when measured in Vietnamese dong, revenue actually increased by about 7%.

This performance is lower than Bach Hoa Xanh’s VND 34,400 billion, but still surpasses Masan’s WinCommerce at VND 28,400 billion.

The food segment remains Central Retail’s largest revenue driver, contributing 31.6 billion baht (~VND 25,175 billion). The home appliance and electronics segment contributed 3.9 billion baht, with the remainder coming from fashion.

Central Retail currently owns several well-known retail brands in Vietnam, including GO!, Tops Market, Lan Chi Mart, Nguyen Kim, and Supersports. The group is operating 42 GO! shopping centers and 13 Mini GO! stores nationwide.

According to its expansion plan announced in June, Central Retail aims to develop 4–6 new GO! shopping centers and 12–15 department stores, each with an average floor area of around 4,500 m², with food accounting for 70% of products. Mini GO! stores will continue expanding into smaller cities, averaging 1,700 m² and focusing primarily on non-food items.

Mr. Suthisarn Chirathivat, CEO of Central Retail, stated that Vietnam is a dynamic market with a large population and significant long-term potential. However, he also noted that average income levels remain modest, making it not yet the ideal time to introduce high-end department store formats. In the next three years, Thailand and Vietnam will remain the group’s two priority markets.

Source: Vietnambiz