Robinson Public Company Limited and its subsidiaries operate department stores and shopping malls across the country under the name “Robinson”. The Company currently has 44 stores in Thailand, comprising of 11 stores in Greater Bangkok and 33 stores in the upcountry and 2 stores in Vietnam.
To profitably grow our market share
Robinson became the first department store company listed on the Stock Exchange of Thailand on 3 January 1992.
The Central Retail Corporation group joined Robinson as a major shareholder and was jointly established CR Thailand Co., Ltd. in order to develop provincial department stores under the "Robinson" brand. Later, the Company proceeded to open new stores up to 20 stores.
Robinson integrated its supermarket business with Central Group and formed a joint venture with Royal Ahold Co., Ltd. a Netherlands based supermarket operator. The resulting company, CRC Ahold Co., Ltd. began operating supermarkets under the "TOPS SUPERMARKET" brand. In December 1996 and May 1998, the Company sold its shares to Royal Ahold Co., Ltd.
The Company was approved for the asset transfer transaction to Power Buy Co., Ltd. and CRC Sport Co., Ltd. respectively. Also, the Company granted right to those companies to utilize space in each branch in order to operate electrical appliance stores and sport accessories stores. The Company received income from those companies as income sharing on percentage of sales or fixed charge per square meter. In April 1998, the Company purchased 40% shareholdings in both companies.
The Company announced a debt moratorium as a result of the sharp depreciation of Baht following the sudden floatation of the currency on 2 July 1997.
On 2 May 2000, the Central Bankruptcy Court ordered rehabilitation of the Company as well as appointed Robinson Planner Co., Ltd. as a Planner and as a Plan Administrator on 20 December 2000. The Company also decided to close its Don Muang branch due to unacceptable of return on investment.
The Company closed its Victory Monument branch since lease agreement had terminated as well as this branch attributed an unacceptable of return on investment. This left the Company with a total of 18 stores. Of these 9 stores were in Bangkok and 9 in provincial locations. The Company also issued Notes to the unsecured financial creditors with a total value of Baht 4,766.7 million for principal and interest.
The Company successfully implemented major steps set forth in its Rehabilitation Plan i.e. increasing its capital from Baht 1,480.8 million to Baht 14,808.8 million, proceeding the debt-to-equity conversion, proceeding 25% capital reduction capital, and forgiveness of remaining debt. This achievement prompted the Stock Exchange of Thailand to consider approving resumption of trade in the Company's ordinary shares in Commerce sector, effective 26 November 2002.
In March, the Company waived the right to purchase new issuance shares from capital increase of CRC Sports Co., Ltd. as its proportion. As a result, the Company's shareholding in CRC Sports was reduced to 29.19%. In May, the Company re-launched its campaign to promote a new image using the concept of "Robinson…Your Life Vitalizer". In December, the Company gained Court approval for an amendment of its Rehabilitation Plan to facilitate the repurchase of Notes under the VDRP.
In January, Robinson SPV Co., Ltd. (SPV) signed a loan agreement with two financial institutions to secure funding for repurchase of Notes under the VDRP. The long-term loan was for up to Baht 2,700 million. At year-end 2004, the Company repurchased 15,899,277 units of Notes under the VDRP program, equal to 77.04% of total outstanding Notes. In addition, on 22 March, the Creditors' Meeting ordered by the Court, passed a resolution to elect three new directors representing unsecured financial creditors to replace resigning directors. On 8 December 2004, the Company acquired the remaining balance of shares from its local partner in CR Ratchaburi (Thailand) Co., Ltd, thereby increasing its shareholding from 49.99% to 99.99%. The acquisition stemmed from the need to improve management flexibility.
The Company continued to run its "Robinson…Your Life Revitalizer" campaign in its retail businesses with the aim of generating continuous sales growth. The Company also launched a new store, at Rattanathibet, while continuously renovating and modernizing its existing stores across the country to create a more colorful and lively ambiance. In addition, product selections with variety of assortment were readjusted to tie in with Robinson's target customer groups and reflect its new image. On 19 December 2005, the Company has proceeded the early redemption on remaining notes which resulted in the completion of the Company's rehabilitation plan.
The Bankruptcy Court considered the petition and ordered the termination of the Company's rehabilitation plan. On April 2006, the Annual Ordinary General Meeting of shareholder was firstly held after the Company resumed the ordinary business operation. The Meeting unanimously approved the appointment 10 directors as the Company's Board of Directors, comprising of 3 independent directors. In November, the new store Robinson Ayutthaya was official opened as the 20th store of Robinson, the investment cost was approximately Baht 347 million.
The Company made the first dividend payment after the order the termination of rehabilitation plan from The Bankruptcy Court, at the rate of Baht 0.32 per share. Pursuant to the resolution of the Extraordinary Shareholders' Meeting1/2007 which held on June 19, 2007 that the Company decreased its capital through reducing par value from Baht 10 to Baht 3.55, an share premium and partial of retained earnings were transferred to set aside share discount according to the Federation of Accounting Professions (FAP) Announcement. On September 13, 2007, Department of Business Development of Ministry of Commerce completed amended the Company registered capital and Memorandum of Association. In September, the new branch Robinson Ocean Jungceylon was opened as the 21st store of Robinson, the investment cost was approximately Baht 132 million.
The Company closed Silom Branch in June 2008, as a result from Silom Asset Co., Ltd.,'s Baht 230 million purchase of rental rights and assets from the Company. Afterwards, following the Shareholders Meeting 1/2551 in October 2008, the meeting approved to make a related transaction in case of Srinakharin land, between Robinson Srinakharin Co., Ltd., and Central Pattana PCL, totaling of Baht 387 million of rental fee which will pay 4 installment payments. Moreover, the meeting also approved to make an adjustment in the Company's rule with regards to share repurchasing policy, and approved to commence its share repurchase program for financial management under the maximum Baht 536 million credit and not allowed to exceed 10% of the Company's already distributed shares; the program has commenced on November 24, 2008 and will run until May 22, 2008.
Robinson Department Store launched two new branches in Chonburi Province and Khonkaen Province as its 22nd and 23rd branches respectively. With a total of over 1,200-millionbaht budget invested, these two grand-scale branches boast a total area of approximately 32,000 square metres. In addition, the company has also carried on its share repurchase program for financial management which was fully completed on 22 May 2009. As a result, the company was able to repurchase a total of 6,765,000 shares, making 0.61% of issued and paid-up share capital. The company's board of committees thereby approved to sell these repurchased shares by means of selling them in the Stock Exchange of Thailand (SET). The selling period of repurchased shares lasts from 23 November 2009 to 22 May 2012.
Robinson Department Store launched a new branch in Trang Province as its 24th branches. With a total of over 650-million Baht budget invested, it is considered as "Robinson Lifestyle Center", the new business model of Robinson. Moreover, on 12 March 2010, the Company received the repayment from the loan agreement from an associated company, which had borrowed long time ago, in an amount of Baht 448 million and the Company recorded an allowance for doubtful account for the full amount of principal and interest receivable since 1998. Regarding the Board of Directors' resolution to resell the repurchased share in 2009, the Company began the resale on 18 August 2010. As of 31 December 2010, there are 3,674,800 repurchased shares which have not been disposed of yet.
Robinson Department Store launched 3 new branches in both Bangkok and upcountry i.e. Chiangrai branch, Phitsanulok branch, and Rama 9 branch, of which total investment budget is over Baht 2,145-million. The Rama 9 branch is now the new flagship store of the company in Bangkok with an area of more than 20,000 square meters. Furthermore, the company has finished reselling all of the remained repurchased shares on 28 April 2011. In addition, the company's stock has been selected to be one of the stocks for calculating SET 50 Index of the Stock Exchange of Thailand since January 2011. Moreover, the company was ranked by Forbes Asia as one of the 200 companies in the Asia Pacific region having continuous growth and strong financial position with a revenue less than 1,000 million US dollar or known as "Asia's 200 Best Under a Billion for the first time. There were only 5 Thai companies which were ranked this year.
The Company started its aggressive store-expansion plan by opening new five stores, in Bangkok and upcountry. The stores are Suphanburi branch (under the Lifestyle Center project), Bangna branch, Suratthani branch, Bangkae branch and Lam Pang branch. Hence, at the end of 2012, the Company had 30 stores nationwide i.e.: 11 branches in Bangkok, and 19 branches in upcountry. Moreover, the Company received interim dividend from its two associates, Power Buy Company Limited and CRC Sport Company Limited, in a total amount of Baht 1,385 million.
Robinson Department Store has continued its proactive approach in branch expansion. As such, five new stores were inaugurated, including four Lifestyle Centres in Kanchanaburi, Sakonnakorn, Saraburi, Surin and one branch in a shopping mall in Ubonratchathani. Having closed down its Ratchadapisek branch on 26 March 2013 due to the rental contract expired, Robinson Department Store therefore has a total of 34 stores nationwide as of 2013 yearend - 10 in Bangkok and 24 in provincial areas. In addition to that, Robinson Department Store was ranked among the prestigious list of top 200 Asia-Pacific companies with a consistent growth and consolidated financial status. Having been ranked among the Asia’s 200 Best Under a Billion list in 2013, it is considered the second time after the Company was first ranked by Forbes Asia in 2011.
Since 4 January 2014, Mr. Alan George Thomson has been the president of the Company succeeding Mr. PreechaEkkunagul who resigned. Mr. Alan George Thomson has a vision to drive the Company as “To profitably grow our market share”.Moreover, the Company actively expanded its stores by opening new seven stores. Five of them are in Thailand and are under the Lifestyle Center project, i.e. ChachoengsaoStore, Roi-Et Store, SamutPrakanStore, PrachinburiStore and MukdahanStore. The Company, moreover, expanded two stores abroad, particularly in Vietnam i.e. Hanoi Store and Ho Chi Minh City Store. This marks an important step on improving the Company's growth. The resolution of the board of director no. 6/2014 approved the issuance of corporate guarantee in favor of the Hongkong and Shanghai BankingCorporation Limited for loan to Power Buy Company Limited (PWB) in accordance withthe principle of proportionate of shareholders (The Company holds 40% shares of PWB). The guaranteed amount is Baht 1,518 million (or 46 million US dollar). In addition, they also approved the share repurchase program for financial management purposesin an amount of Baht 100 million or not exceed 10% of the total paid-up capital of the Company. This program period is from 26 December 2014 to 25 June 2015.
The company has agreed to establish, a subsidiary company called, Robinson Department Store Vietnam Joint Stock Company. It is to invest in retail business in Vietnam. Our Department Store was officially opened in Hanoi and then Ho Chi Minh City. Also, in Thailand, Robinson opened 5 more Lifestyle Centres : Chachoengsao, Roiet, Samutprakarn, Prachinburi and Mukdaharn. Moreover, Robinson Department Store received award of the outstanding business for labour relations and labour welfare from Ministry of Labor and Welfare.
The Company actively expanded its stores by opening new four stores which are three Lifestyle centers that were Burirum, Srisaman and Maesot and one lifestyle department in shopping mall in Rayong province. In addition, the Company made a continuous refurbishment on its existing branches to be modernized and cater ever-changing demands and diverse lifestyles of customers in each location. Having closed down Robinson Ladya on May 6, 2015 due to rental contract expire. Moreover the Company received award of the outstanding award business for Labour relations and welfare from Ministry of Labor and Social Welfare which was 10 years consecutively.
The Company launched a rebranding campaign, had its logo re-designed with its brand-new, modernized image and launched Robinson’s first mascot. Furthermore, introducing of “Robinson LINE Smart Connect” platform and Line Sticker to best respond to digital trend with the business connect.
For support online business growth, the Company have developed sale channel through Robinson Online Shopping (www.robinson.co.th) and launched “Click & Collect” service. In addition, the Company stock joined in MSCI Global Standard indices. MSCI Indices are benchmarks to measure equity market.
Following a revamp, Robinson Department Store, Rama 9 branch, has unveiled the latest shopping zone, entitled “1 Below” which are new retail format is the ability of millennial customers to shop seamlessly underwear, swimwear, footwear, Ath-leisure and sports collections whilst benefits from latest technology initiatives.
Open Robinson life style department store in Nakhon Si Thammarat, as the 43rd branch of its kind. In addition, with an aim to raise awareness in reforestation and forest watershed conservation, the Company organized a "Robinson Suzuki Green Run" mini-marathon session. Taking “Run for the Tree: One Runner is Equal to One Tree” as its theme, aims to celebrate the auspicious occasion of Her Majesty The Queen Sirikit’s Birthday on 12 August 2016. Well participated by a seething throng of 17,000 joggers at 17 running tracks in lifestyle center in 17 provinces nationwide.
The “Just Buy” one-priced shop has also been revamped to make it more Stylish.In addition, the Company received award of the outstanding business for Labour relations and Labour welfare from Ministryof Labor and Social Welfare which was 11 years consecutively.
The Company has unveiled the concept of “Great Value” which is one Price throughout 365 Days, the Great Value products with an ethical sourcing, comprise of four categories which are Home&Co-household-related items, Active&Co- fitness and sport products, Clothing&Co- men/women’s wear and Kids&Co-kids wear.
Robinson Lifestyle Lopburi was officially inaugurated, marking it as the 44th branch of its kind. Taking “Eat-Shop-Play” as its theme, Marked as the first of its kind to have integrated layout, a water park in Lopburi province and also equipped with a solar panel with an aim for energy efficiency and environmental preservation.