Thailand's Central makes powerful presence in Vietnam

Powerbuy, a member of the Central Group of Thailand, is now strategically placed to make its presence felt in the Vietnamese market.

The Thai electrical goods and home entertainment operator’s parent company, Central, is said to have bought, for an undisclosed amount, a 49% stake in Nguyen Kim, a leading Vietnamese electrical goods company. The purchase was made through Central’s investment in NKT New Solution and Technology Development Investment JSC, Nguyen Kim Trading’s parent company.

Nguyen Kim is the highest profile electrical goods trader in Vietnam. It has 23 stores nationwide and a solid brand strength accounting for some 40% of the market.

PowerBuy itself is a strong player in Thailand, with 80 stores across the country, including fl agships in Central Group malls such as Central World in Bangkok, reportedly Asia’s largest shopping centre.

Other than its investment in Nguyen Kim, the Central Group also recently expanded its operations in Vietnam. It opened the second of two department stores under the Robins brand, an abbreviation of its Thai Robinson brand. One is located in Hanoi and another in the Ho Chi Minh expat suburb, District 7.

Other than its investment in Nguyen Kim, the Central Group also recently expanded its operations in Vietnam. It opened the second of two department stores under the Robins brand, an abbreviation of its Thai Robinson brand. One is located in Hanoi and another in the Ho Chi Minh expat suburb, District 7.

The Central Group also has a strong presence via its SuperSports retail business, Crocs footwear chain and New Balance athletic stores there.