Many families fail to pass their prosperity on to the next generation, faced with a highly competitive market, mismanagement, disruptive technology and a rapidly changing business landscape.

But Central Group breaks the mold, with its business expanding from one generation to the next, having achieved success beyond expectations. 

Starting from a small shop selling imported fashion and other wares on Si Phraya Road, Central has become a retail empire with different formats in Thailand and abroad, from East to West.

Yuwadee Chirathivat, executive director of retail, says that each successive generation has seen continual, sustainable growth. 

Their business ideology was originally instilled by founder Tiang Chirathivat, and then honed by Samrit Chirathivat, Mr Tiang’s eldest son, and Wanchai Chirathivat, Mr Tiang’s second son.

“We had our family foundations ingrained in us through education. Living and working as a family, we’ve created close ties that give us a sense of togetherness as we move forward, having a clear strategy and focus on what we do, always looking to the future,” said Mrs Yuwadee, one of the pillars of the third generation.

Each generation brings innovative ideas and experiences that allow the group to develop into previously unknown areas, both holding onto what initially made the company relevant while breaking new ground in an ever-changing world.

The generation before laid the foundations, developing a solid customer base and a network of partners to expand with. This generation is continuing to grow its base throughout Thailand and beyond.