Vietnam expansion supports Central Retail growth in 2025

The company recorded core profit for 2025 of $231.2m.

Central Retail Corporation has continued expanding its presence in Vietnam in 2025 as part of its strategy to drive long-term growth across Southeast Asia.

The company recorded core profit for 2025 of $231.2m (Baht 7,432m), down 6% year-on-year (YoY), whilst fourth-quarter core profit rose 17% year-on-year to $84.9m (Baht 2,729m).

The group reported performance from continuing operations, excluding Italy, generating total revenue for 2025 of $7,875.2m (Baht 253,165m), a 4% YoY increase, whilst fourth-quarter revenue reached $2,213.6m (Baht 71,162m), up 12% YoY.

The company expanded its retail footprint with two new GO! Malls in Vietnam and renovations of two flagship branches, as part of efforts to strengthen its market presence.

Central Retail also launched The 1 Loyalty Platform in Vietnam in November 2025, aiming to strengthen customer engagement and gain deeper consumer insights.

In Thailand, membership of The 1 loyalty platform has grown to more than 23 million members.

During the year, Central Retail continued expanding and upgrading its retail network across its markets.

The company renovated Central Department Store Bangrak, opened nine new TOPS branches, upgraded three branches to TOPS FOOD HALL, and launched four new GO Wholesale branches. It also expanded Thaiwatsadu with three new branches.

Central Retail also accelerated the rollout of new retail models designed to reach broader customer segments, including the expansion of AUTO1 with 13 new branches nationwide, the rollout of the TOPS DAILY Hybrid model, and Power Buy’s “Tech Retail Experience” concept store.

Panet Mahankanurak, chief financial officer of Central Retail, said the company maintained profitability despite a challenging business environment for the retail sector.

“In 2025, Central Retail continued to deliver consistent profitability despite the overall wholesale and retail sector facing significant challenges and multidimensional pressures from global economic factors and weakened domestic purchasing power," he said. "Nevertheless, Central Retail effectively navigated volatility across all dimensions, supported by the strength of the CRC Ecosystem under the ‘New Heights, Next Growth’ strategy, alongside its multi-category, multi-format model and fully integrated omnichannel platform spanning Fashion, Food, Hardline, and Property."