Thailand's Central Group Expects Online Surge Through JD Pact
- Central Group seeking to become Thailand’s e-commerce leader
- JD.com will be Central Group’s gateway back to Chinese market
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The company with the biggest grip on Thailand’s brick-and-mortar retail market is expecting a partnership with China’s JD.com Inc. to help it do the same in online sales.
Central Group, which controls Thailand’s biggest operator of shopping malls and department stores, expects online sales to account for as much as 15 percent of its revenue in five years, from 2 percent now. The partnership with JD will help it compete in Southeast Asia’s booming e-commerce market and also open up businesses opportunities in China, Chief Executive Officer Tos Chirathivat said in an interview.