Thailand's Central Group became a strategic partner of electronics retailer Nguyen Kim Trading Joint Stock Company, purchasing a 49 percent stake for an undisclosed sum under a contract signed early this week.
Nguyen Kim seeks to develop into a strong electronics retailer in the proposed ASEAN common market, with a range of initiatives geared towards strengthening its market position and improving its digital marketing strategy.
Among its plans are to offer new lifestyle shopping centres and product categories beyond electronics.
Nguyen Kim is looking to expand from its current 21 stores to more than 50 across the nation in 2019 to retain its market leadership. Digital marketing is set to play a key role in the plan, with the company hoping to increase online sales by 50 percent in 2015.