Central Department Store Group Bets on Luxury Sector for 2024 Growth
Renovated Central Chidlom Aims for 30% Sales Boost Fueled by Luxury Offerings and Rebounding Tourism
Central Department Store Group (CDG) is optimistic about expanding in the luxury retail segment, forecasting a 30% sales increase for the upcoming year.
This confidence stems from the comprehensive 4-billion-baht upgrade of Central Chidlom, which has undergone its most significant transformation in 50 years.
Reopening on December 12, the mall is positioned as a one-stop shopping destination focused on affluent consumers, featuring high-end brands like Chanel, Dior, Gucci, and Prada Beauty, alongside 500 fashion labels in its luxury zone.
CEO Natira Boonsri attributes potential growth to a revived tourism industry and diverse customer demographics.
Central Chidlom, during a soft opening phase, already realized 25% higher sales, surpassing sector averages.
With 30,000 daily visitors expected post-renovation, CDG is also setting sights on further boosting its market presence through strategic store renovations and expansions, including transitions of selected Robinson stores to Central.
Catering to affluent Generation Y and Z customers with omni-channel services, CDG aims to maintain its premium market leadership across Thailand.