Central Retail Corp, a retail arm of Central Group, is set to embark on online business through a share swap with OfficeMate Plc.
Under the deal announced today, CRC will end up holding 75 per cent in OfficeMate.
"We want to expand our business into the online area, in which OfficeMate is excellent," said Tos Chirathivat, CEO of CRC. "Our aim is to boost online revenue to 30-40 per cent of total revenue in the next few years, from the nearly-zero base now."
OfficeMate operates B2S bookstore chain, Office Depot and Trendyday.com. According to Tos, starting from office supplies, the online channel would further offer other products like books, electronics products and others which are made available by CRC.
After the share swap, CRC also plans to move OfficeMate from Market for Alternative Investment to the main stock trading board.