Central Retail Corporation Public Company Limited (SET: CRC) continues to drive its CRC Retailligence strategy in full force by accelerating its expansion in the health and wellness portfolio. Central Retail has invested 240 million baht to drive OfficeMate, the #1 retailer of office supplies, IT products, furniture, and B2B products, via the strategic partnership with MP Synergy, a leader of ergonomic furniture, under a well-known brand Ergotrend. Holding 60% of the shares, Central Retail is equipped to strengthen its presence in the ever-growing health and wellness industry, and to gain a bigger share in the furniture market valued at 43 billion baht as Thailand’s #1 retailer in ergonomic furniture.
Mr. Ty Chirathivat, Chief Financial Officer of Central Retail Corporation Public Company Limited or CRC said, “Central Retail is committed to drive continuous growth in the health and wellness business. Beyond Tops Care and Tops Vita, the leading drugstore and supplement store, the partnership with MP Synergy will further expand our health and wellness portfolio through the launch of a new product line including ergonomic chairs and furniture. The partnership comes at a time when the health and wellness market is to witness growth driven by the work-from-anywhere trend and the rise of health-conscious consumers. It is a great opportunity for us to seek a high-potential business like the Ergotrend brand to not only strengthen Central Retail’s current health and wellness portfolio but also to enable OfficeMate to further expand its hardline business to B2C customers and fully enter into the ergonomic furniture industry.”
Mr. Pansit Chitsaardkul, Managing Director of MP Synergy Company Limited, said, “MP Synergy is delighted to partner with Central Retail, the #1 retailer in Thailand, to drive ergonomic furniture and products to another level. We are confident that our expertise in ergonomic furniture with a strong brand like Ergotrend, coupled with Central Retail’s competitive strengths including the powerful ecosystem with strong customer base, partnership network, and omnichannel platform – we will be able to expand our business, branch out our distribution channels for other brands, and fully introduce our products to B2B customers. This will generate significant opportunities for us to grow.”
This joint partnership combines unique strengths and builds on the market-leading positions for both Central Retail and MP Synergy. MP Synergy is a leader in ergonomic furniture and has a strong brand like Ergotrend which is based on ergonomic designs, offering chairs, desks, and other products for customers of all ages who are conscious about their health and wellbeing. The products are reasonably priced, and the company has its own manufacturing facility to allow customization, which appeals to OfficeMate’s B2B customers. Additionally, the company is also a representative of #1 children’s ergonomic furniture brand in South Korea, COMFPRO, and many other home and office furniture brands. This partnership will expand OfficeMate’s furniture offerings and cater to its B2C customers.
With Central Retail’s key strength in operating the strongest omnichannel platform in Thailand, it will help Ergotrend and other brands under MP Synergy in terms of distribution channels. The target is to increase its offline branches from 6 to 37 branches within five years. Ergotrend’s online and omnichannel platforms will also be transformed to better cater to its customers anywhere, anytime. MP Synergy is also utilizing OfficeMate’s strengths in having large companies and SMEs in all industries as its customers, an extensive network of partners and suppliers, wide-reaching platforms including 77 offline stores nationwide, online channels via its website, telesales, direct sales, and omnichannel platforms, as well as a modern logistics and smart warehouse system. This equips OfficeMate to bring Ergotrend products and services to customers more effectively.
“We are confident that this partnership will result in inclusive growth and further strengthen our ecosystems that enable end-to-end supply chain capability from production to delivery. In the future, we have plans to expand our product lines and introduce Ergotrend products to other businesses under Central Retail such as Central Department Store, Thai Watsadu, and B2S, as well as other furniture services to complete the experience and offer the best to our customers. We will also continue to seek growth opportunities in the health and wellness segment to power Central Retail forward as the #1 retailer of the future,” Mr. Ty added.
