Thailand’s Central Retail Corporation will open its first flagship store in Jakarta at Grand Indonesia Shopping Town, the Indonesian retail center said on Thursday.
The partnership agreement between the chief executive of Grand Indonesia and the Central Department Store was signed in Jakarta on Thursday.
“ We believe Central Department Store will be able to give new excitement and variation for our customers and also support our position as the most successful integrated complex,” Grand Indonesian chief executive Tessa N. Hartono said after the signing.
She said that the first outlet of the Thai department store would cover an estimated space of 21,000 square meters and the total investment value would reach up to $19.5 million.
Khun Yuwadee Chirathivat,CEO of Central Department Store, said that the store was expected to open in September 2014.
“Now we are preparing our impressive store design, exciting merchandising, which is young, fun and easy to navigate. This will be our flagship store in Indonesia,” Chirathivat said.
She said that as Southeast Asia’s largest economy, it was only natural for Central Department Stores to expand in the country. She vowed that the flagship store would be different but did not elaborate.
Central Group, to which the Central Department Store belongs, is one of Thailand’s five largest business group.