Thailand’s Central Retail reported Vietnam revenues of nearly THB24.6 billion (US$756.7 million) in the first half of 2025, The Investor has reported → view source.
This is down 7 percent year-on-year when measured in Thai baht but up 2 percent in Vietnamese dong, according to its Q2 financial results.
Vietnam contributed 20 percent of the group’s THB121.6 billion (US$3.74 billion) global earnings.
Key details:
- FX impact: Thai baht appreciated 8 percent against the dong in H1, creating the discrepancy in reported figures.
- Revenue breakdown: THB22 billion (US$677 million) from food, THB4 million (US$123,050) from fashion, and THB2.6 billion (US$80 million) from hardline goods.
- Market rank: Vietnam remains Central Retail’s second-largest market after Thailand (THB87 billion, US$2.68 billion). Competitors include Bach Hoa Xanh (VND22.6 trillion, US$858.8 million) and WinCommerce (VND17.9 trillion, US$688 million).
- Expansion: Opened a Hung Yen mall in July, plans another in Yen Bai later in 2025, plus upgrades for Big C Hanoi and Dong Nai.
- Investment: Committed THB45 billion (US$1.38 billion) through 2027 to expand in Thailand and Vietnam, where it runs 330 stores across 26 provinces and cities.
See also: Vietnam’s Retail Industry 2025: Market Trends and Key Insights