After forming a partnership with Xiaomi Inc. of China, the Digiworld Joint Stock Company opened the first Mi Store in Vietnam in early January to distribute Xiaomi products like mobile phones, smart watches, portable chargers, LED lamps and vacuum cleaners. Mi Stores are expected to be present in 15 big cities nationwide by late 2018. Customers shopping at a Vinmart supermarket in Hanoi GS25 also opened its first store in District 1, Ho Chi Minh City, last month after establishing a joint venture with Sonkimland to become the first Korean brand to enter the fierce competition among convenience stores in Vietnam. It plans to open more than 2,500 stores in the country in the next 10 years. The market has also witnessed several big mergers and acquisitions (M&As) in the retail sector in recent years, including the respective purchases of the Metro Vietnam and Big C Vietnam supermarket chains by Berli Jucker and Central Group of Thailand. Aside from M&As, many … [Read more...] about Local retail market charms foreign investors
Maximark mall ho chi minh
Bản in : Space remains for local retailers in domestic market
Vietnam’s retail market has recently witnessed the emergence of numerous foreign businesses as they make acquisitions and expand operations. While some fear the loss of Vietnamese brand names, others believe there is still substantial room for local firms to develop. Thai billionaire Sirivadhanabhakdi’s retail conglomerate Berli Jucker last year announced its plan to buy all 19 supermarkets of Vietnam’s Cash & Carry wing of the Germany Metro AG for nearly 880 million USD, the biggest retail acquisition in Vietnam’s history. Metro Cash & Carry Vietnam generated more than 690 million USD in revenue in 2013. In late 2014, the Central Group of Thailand’s richest family, Chirathivat, declared that its Power Buy Company had purchased 49 percent stake in the NKT New Solution and Technology Development Investment JSC, which owns the Nguyen Kim electronic shopping centre chain – one of the top Vietnamese retailers with 21 supermarkets nationwide. … [Read more...] about Bản in : Space remains for local retailers in domestic market