Central Retail refocuses Vietnam strategy with Nguyen Kim exit

December 24, 2025 | 15:01

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Central Retail has fully divested from Nguyen Kim Electronics as it refocuses on its core food and property businesses in Vietnam.

Central Retail refocuses Vietnam strategy with Nguyen Kim exit

The company announced on December 23 that it had entered into a share purchase agreement with PICO Holdings JSC, a Vietnamese electronics retailer, to dispose of its entire direct and indirect investment in Nguyen Kim Electronics.

Central Retail's investment in NKT New Solution and Technology Development Investment JSC and its subsidiaries, wholly owned by NKT, will be disposed at enterprise value of $36 million. NKT is the holding company for the electronics retail business operated under the Nguyen Kim brand in Vietnam.

Central Retail said it will record a one-time, non-cash impairment charge of approximately $190 million in the fourth quarter of 2025. The company added that its financial position remains solid and that the impairment will not have a material impact on operations, assets, financial condition, or dividend payments.

The divestment forms part of Central Retail’s strategy to optimise its business portfolio in Vietnam by reallocating resources to improve operational efficiency, accelerate expansion, and enhance returns across its two core businesses in the country–food and property. The transaction will be completed once all conditions precedent are met or waived, including approvals from relevant authorities and business partners.

Central Retail targets expansion in Vietnam over next three years

Thai retail giant Central Retail unveiled its three-year plan on June 24, setting aside THB45 billion ($1.38 billion) for stronger synergy and full-speed expansion in Vietnam and Thailand.

Central Group spends over $100 million on full takeover of Nguyen Kim

In its latest financial statement, Thailand's Central Group has announced spending VND2.66 trillion ($115.65 million) to complete the acquisition of Nguyen Kim, after five years of holding a 49 per cent stake in the electronics retailer.

Electronics traders bemoan bleak results

Owners of electronics and electrical appliance stores in Vietnam have been driven to deadlock, with a high volume of unsold products despite solid discounts and various promotional programmes.

By Thanh Van

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