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Thailand's Central Retail eyes metaverse in $3bn drive to double sales

Bangkok-listed company pours investment into both real and virtual stores

Central Retail plans to invest 100 billion baht over the next five years to expand its business. (Photo by Akira Kodaka)

BANGKOK -- The retail arm of Thailand's Central Group will spend more than $3 billion over the next five years to better reach shoppers both online and at stores, with the aim of boosting sales 2.5 times.

The group's listed store operator Central Retail is also experimenting with selling products on the metaverse and will spend up to a quarter of the 100 billion baht ($3.04 billion) investment on technology, CEO Yol Phokasub said as the company releaseda five-year plan Tuesday.

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