Central Retail Corporation (CRC), the country's largest retail operator, has acquired Illum, a Danish famous department store, and plans to invest two billion baht to renovate the Copenhagen store in four years.
CRC chief executive Tos Chirathivat said renovation of the 120-year-old Illum building, situated on the main shopping street, will help boost its income from five billion baht to eight billion baht, through adding of more luxury brands and refining the food and beverage segment.
He said the investment is in line with the company's strategy to have a unique department store.
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