SET-listed Central Retail Corporation (CRC), the retail arm of Central Group and the country's biggest mall operator, has realigned the Central and Robinson Department Store brands to better suit changing customer profiles at each location, starting at the Megabangna complex.
The move is part of a consolidation of Central Group's retail businesses that began last year by bringing Robinson under CRC's umbrella.
Natira Chirathivat Boonsri, president of Central Department Store, said the company chose Megabangna as the first location for store realignment. Robinson Department Store will be transformed into a Central Department Store.
Bang Na-Trat Road is considered a golden area, as it is an economic zone and a gateway to the eastern provinces of Chachoengsao, Chon Buri and Rayong.
The Yellow Line and the Bang Na-Suvarnabhumi light rail line will open later, further driving growth in this area, Mrs Natira said.
There are also many large industrial estates on Bang Na-Trat Road, with 18 housing projects and Suvarnabhumi airport a short drive away.
The area is growing more populated, leading the group to prepare itself to battle in this emerging market, as new large-scale retail projects from the Mall Group and Seacon Development, the operator of Seacon Square malls, also have big expansion plans in this area.
The Mall Group is developing The Bangkok Mall on a 100-rai plot at the intersection of Bang Na-Trat and Sukhumvit roads with a budget of 20 billion baht, while Seacon Development is about to splash 15 billion to develop a new mall in the area.
According to Mrs Natira, the transformation process will be divided into two phases.
The first phase is a minor change to Robinson and Central Department Store to meet the needs of modern families with high purchasing power. About 400 new brands will be added, including Chanel and Dior, bringing total brands to exceed 1,000.
The second phase will start in the third quarter of next year and be complete in the second quarter of 2022. The retail space of Central Megabangna will be expanded from the existing 13,000 square metres.
CRC has spent 50 million baht on renovations, marketing, promotions and activities for Central Megabangna, which is scheduled to be unveiled on July 2.
The main target group for Central Megabangna is working-age Thais and modern families, as well as expatriates who live and work in the area.
This is a different target group from CentralPlaza Bangna, which focuses on multi-generational families.
"The retail business in eastern Bangkok is expected to see further growth because it is the gateway to the East of Thailand," said Robinson president Wuttikiat Techamongklapiwat.
"In the future, this area will be expanded further and become a landmark of Eastern Bangkok. Revamping the store to Central Megabangna is fitting."
According to Mr Wuttikiat, Robinson Megabangna customers can still visit the nearby Srinakarin, Lad Krabang and Samut Prakan branches of Robinson.
Robinson plans to open 2-3 new stores a year.
CRC runs 74 department stores nationwide.
Of the total, 51 are Robinson Department Stores and Robinson Lifestyle Centres with a combined retail space of 583,300 sq m.
The remaining 23 branches are Central Department Stores.