Central Retail Corporation (CRC), the country's biggest mall operator, opened its 27th Robinson Lifestyle Center on Ratchaphruek Road yesterday at a cost of 1.2 billion baht to strengthen its retail business in western Bangkok and cater to high-spending shoppers.
Robinson Lifestyle Ratchaphruek is the third Robinson Lifestyle branch to open this year.
The three-storey building will augment CRC's ecosystem, which has many retail stores in western Bangkok, including Robinson Rattanathibet and Robinson Lifestyle Si Saman, as well as a new Central Department Store slated to open at Central WestVille mixed-use project next year, said Philippe Broianigo, Robinson Lifestyle's chief executive of property and business development.
"Despite a spate of business risks, we remain committed to our investment and under our five-year plan we plan to expand Robinson Lifestyle Stores to cover 49 provinces nationwide, up from 24 provinces now," he said.
"This reaffirms our position as the No.1 shopping centre with the widest presence in the country."
Robinson Lifestyle Ratchaphruek covers an area of 50,000 square metres.
It was built to become a lifestyle and experiential community in Ratchaphruek that will drive the growth of the area's society, economy and environment in the future, said Mr Broianigo.
He said he is confident in the new store because Ratchaphruek, a road in western Bangkok, has high potential, catering to an expanding city thanks to many factors such as convenient transport, mega-projects run by the government and the private sector, and growing high-income communities.
Most of the residents in the area are families and are of working age, meaning there are many residential projects, mostly high-end ones, emerging in this zone, said Mr Broianigo.
The area has potential based on the high purchasing power of its residents, he said.
"The opening should not only stimulate spending in the Ratchaphruek area, but also serve as a flagship store and lifestyle destination that will cater to every customer's needs in the neighbourhood," said Mr Broianigo.
The new store will generate 1,000 new jobs and expects to break even within 4-5 years, he said.