LA RINASCENTE Department Stores go global

Thailand’s Central Retail Corp. Ltd. plans to strengthen La Rinascente brand and make it global, Chief Executive Officer Tos Chirathivat told Corriere della Sera in an interview. New openings are planned in Venice and Rome, Chirathivat told the newspaper, adding that the company will export the brand to the major cities of Eastern Europe, Middle East and China.

Central Retail Corp.’s goal is to place Italian premium department store brand La Rinascente among the first five luxury department-store chains in the world, the newspaper quoted the CEO as saying. La Rinascente SpA investors approved a sale of the company to Central Retail Corp. on May 27.

Last week, minority shareholder Borletti has filed a legal suit condemning the sale transaction.