Central Group, Thailand’s biggest retail conglomerate, has announced the purchase of 49 percent of Vietnamese electrical appliance chain Nguyen Kim to hasten its retail expansion in ASEAN.
"After combining the sales of Central’s Power Buy and Nguyen Kim, we’ll become a strong market leader in the electrical appliance business in Southeast Asia," said Sa-angtip Amornchat, vice-president for marketing at Power Buy Ltd.
Power Buy posted THB18 billion (USD553.1 million) in sales last year, while Nguyen Kim had THB13 billion. Nguyen Kim has 21 branches in Vietnam, while Power Buy has 90 stores in Thailand.
(Source: Bangkok Post)