Asia
Central Retail Forms Step-Down Subsidiary for Lacoste Product Distribution
Central Retail Corporation (BKK:CRC) has formed a step-down subsidiary named Heritage Croc (Thailand) to expand its fashion business portfolio and enhance the growth potential of the business, according to a Tuesday filing to the Thai stock exchange.The company's shares were down over 1% in Wednesday's trade.The new entity is under Central Trading, which is wholly owned by the company. It has been formed to import and distribute fashion products under the Lacoste Brand in Thailand.Central Trading owns an 80% stake in the new company, while I.C.C. International holds the remaining 20% stake.
BKK:CRC
