The company is the partner in Thailand of Mango, Calvin Klein, Crocs, Lee, Fila and Marks&Spencer, amongst others and it’s the owner of La Rinascente and Illum.
A new retail giant to go public. The Thailand group Central Retail, partner in its local market with Calvin Klein or Marks&Spencer, is preparing its IPO for next year with a 2 billion dollars valuation, according to Business of Fashion.
Central Group, controlled by the Chirathivat family, is the owner of shopping malls Central and Central Embassy and the store chains Zen and Supersports. Outside of Thailand, Central Group is the owner of department stores La Rinascente in Milan and Illum in Copenhagen and controls the supermarkets Big C.
Central Retail will be the second biggest IPO in the history of Thailand
The company has dedicated the last months for consolidating its operations in Thailand, Vietnam and Italy under the same group. Besides that, the company presented a tender offer for the 46% of Robinson stock it doesn’t already own.
At the same time, Central Retail just invested in the startup Pomelo, also Thai. The company, that was born as a pure player, now has nine stores in Bangkok, Phuket and Singapore and has raised 52 million dollars.
Amongst its investors are also the cofounders of Skype. With this injection, Pomelo has raised a total of 83 million dollars. With this capital, the company expects to boost its retail expansion in Kuala Lumpur, Hong Kong, Manila and Ho Chi Minh City.