Jump to content








  • Topics

  • Latest posts...

    1. 45

      Reasons of change

    2. 45

      Reasons of change

    3. 45

      Reasons of change

    4. 93

      Why Are You Even Here? The Surprising Attitudes of Some Expats in Thailand

    5. 112

      Thai Police Bust Multi-Million Baht Sex Toy Smuggling Ring

    6. 45

      Reasons of change

    7. 45

      Reasons of change

    8. 6

      Thai woman sends husband to prison for raping 13 year old niece

    9. 45

      Reasons of change

    10. 10

      Why Doesnt "Me Too" Apply to Democrats?

    11. 123

      Why Do You Even Drink?

    12. 93

      Why Are You Even Here? The Surprising Attitudes of Some Expats in Thailand

Thai Retail Group Eyes Expansion After Italy Deal


Recommended Posts

Thai retail group eyes expansion after Italy deal

BANGKOK, May 30, 2011 (AFP) - The Thai retail giant buying Italian department store chain La Rinascente said Monday that it planned to expand the upscale brand in overseas markets including Asia.

"We will make La Rinascente a global brand, and will promote it in China, Japan, Hong Kong and the Middle East," said Tos Chirathivat, chief executive of Central Retail Corp.

"Central is a long-term player, and it will be our long-term asset."

He said two planned new stores in Venice and Rome would help the Thai company recoup the cost of its purchase of La Rinascente, announced on Friday, for 205 million euros ($293 million).

La Rinascente, a historic brand that traces its roots back to 1865, already has 11 department stores in Italy's main cities.

The company became one of the symbols of Italy's post-war economic miracle and was at one point owned by iconic auto giant Fiat. It has since sold its food outlets and closed down several major department stores.

It now sells mainly womenswear and high-end cosmetics and accessories.

The heir of the chain's founders, Maurizio Borletti, who holds a four percent stake in La Rinascente, had tried to oppose the sale but a court in Milan earlier rejected his attempt to block it.

afplogo.jpg

-- (c) Copyright AFP 2011-05-30

Link to comment
Share on other sites


Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...