Prachachart Turakij, a business newspaper reports, the stock market listed, Central Group, plans to attacked the home furniture market with three bands, adding “baan & BEYOND” as a new brand, consisting of being a modern department store covering home improvement and furniture. Central current brand includes Home Work, for top end furniture market and Thai Vasadu, that targets the low end market. The first two bann & Beyond store will be in Chiang Mai and the Issdan region town Khon Kaen. The store will resemble a combination of Ikea and Index, with investment about US$15 million a store Prachart Turakij reports a fierce battel in the market is set to explode, with large players such as Home Pro and Boon Thaworn, having also set agressive expansion plans.
The Central Group of Companies is a family-owned conglomerate holding company in Thailand that is involved inmerchandising, real estate, retailing, hospitality and restaurants. Among its subsidiaries is Central Pattana, which is the largest developer and operator of shopping centres in Thailand and the Central Retail Corporation, Thailand’s biggest retail conglomerate. Its chief rival is The Mall Group, which owns Siam Paragon and The Emporium and several suburban shopping centres. Central Pattana (SET: CPN) is the retail property development and management arm of the Central Group, Central Pattana was founded on June 17, 1980 with a registered capital of 300 million baht. The company became registered as a public limited company in 1994 and was listed on the Stock Exchange of Thailand in 1995. Central Pattana is currently managing 20 shopping centres, 6 office buildings, one hotel and two residential projects. It planned to expand the shopping malls to oversea. The first will be open in Malaysia, around in 2014, and other plans has expand to Vietnam, China, India and Indonesia.
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