Central Retail launches Tops Vita
It is considered Thailand’s first O2O vitamins retail.
Central Retail Corporation (CRC) has launched Tops Vita, the first offline to online vitamins retail in Thailand.
Tops Vita is poised to capture the THB200b market in the country with its O2O strategy.
“We see Thai consumers’ growing interests in health and beauty, especially during the spread of Covid-19, which has significantly accelerated the growth of the vitamins and supplement market,” Ty Chirathivat, CFO of CRC, said.
“Central Retail anticipated investment opportunities in the health and wellness category, leading to a THB200m investment to launch ‘Tops Vita’, the comprehensive vitamin and supplement store to serve the needs of consumers seeking for best choices in holistic healthcare.”
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CRC noted it plans to expand Tops Vita across 40 locations, including 30 in-supermarket branches, and 10 branches within Tops Care. By 2027, it targets to achieve sales of up to THB1.5b.
To date, Tops Vita has launched 20 branches in Thailand, including in-supermarket formats in Central Food Hall at Central Chidlom, CentralWorld, Tops market Central Rama 9.
“The company aims to expand to a total of 40 branches within this year and expects to launch a total of 150 branches by 2024 across the nation. ‘Tops Vita’ is considered one of Central Retail’s strategies in the constant exploration of new growth engines, paving way for Central Retail’s #1 position in Thailand within the health and wellness segment,” Ty said.
“Moving forward, Central Retail continues to expand and invest in new business formats, driving leaping growth across segments and reinforcing its leadership position in every category as the smart retailer inspiring a strong and sustainable future.”