Central Retail buys la Rinascente – No 1 Italian Department Store

31 May '11

5 min read

The flagship store is in Milan, the world fashion capital city and the main shopping location of Europe, where fully provided with top world-class brand names such as Louis Vuitton, Christian Dior, Fendi, Gucci, Bottega Veneta, Balenciaga, Valentino, Dolce & Gabbana, Armani, Zegna, Chloe, Miu Miu, Marc Jacobs and etc. Moreover, Rinascente also creates “Design Supermarket” - a department where various new trendy and chic designed products are best selected. The merchandizing emplacement is designed in form of “Shop in Shop” and clearly categorized so that it can make all products be dazzling. Customers coming to shop in Design Supermarket will get back the innovative shopping experience. It can be said that Design Supermarket is the alluring section of Rinascente.

In 2010, Rinascente generated revenues of €350 million or equivalent to THB 15,000 million. With the remarkable products and brands selection including the modern design facelift, it makes Rinascente persistently grow up. Due to the excellent business administration of efficient and skilled management team led by Mr.Vittorio Radice – Chief Executive Officer, renowned and experienced in the field of international department stores more than 20 years. From his success in strategy planning, turnaround management in merchandizing, sales, operation as well as marketing for Selfridges Department Store in U.K. increasing constantly their revenues and profits, he was approached to join Rinascente. In addition, he also occupied Executive Director of Marks & Spencer and Managing Director of Habitat International.

Another high-qualified and experienced management behind the rising of Rinascente is Mr.Alberto Baldan – Managing Director, has worked with Rinascente since 1969. He has ever been Managing Director of Conforma Italy and he also experienced in hypermarket industry for more than 10 years. Thanks to a renovation strategy implemented by current management starting in 2005, characterized by the pursuit of innovative design and the continuous update of the commercial offer, Rinascente is today the international point of reference for quality shopping.

Mr.Tos finally concludes that “The purchase 100% of Rinascente is in accordance with our business expansion strategy by Mergers and Acquisitions that will make Central Retail readily advance. We are still looking for investment opportunity like this both in Thailand, China, other ASEAN and European countries. We aim for never-ending growing, developing and expanding our business. Central Retail Corporation Ltd. reaches to the world competition from now. We assure to offer our customers new and innovative products and services which no one cannot be incomparable.”

Central Retail Corporation Ltd (CRC)

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