Last week, MM Mega Market signed a contract with CMM Marketing Management Pte., Ltd. to export Vietnamese farm products to Singapore. VIR’s reporter spoke with Phidsanu Pongwatana, the company’s managing director, about plans to export Vietnamese agricultural products to foreign markets. Thai-owned wholesaler MM Mega Market will help take Vietnamese agricultural products abroad Your company recently signed a deal with CMM Marketing Management Pte., Ltd. (CMM Singapore) for agricultural exports. Could you please tell us about it? According to the contract signed on August 21, MM Mega Market Vietnam will export fresh vegetables, mushroom, and fruit to Singapore through CMM Singapore to distribute at Sheng Siong Supermarket's 60 stores. Sheng Siong Supermarket is the third-largest retailer in Singapore. This event lays the first foundation for our strategy to export Vietnamese agricultural products to Singapore. Singapore is the second market after Thailand where we … [Read more...] about MM Mega Market to take Vietnamese agricultural products abroad
Mm retail store
In the last four years, Vietnamese market had continuously seen the retreat of several global retailers. Having held high expectation when first landing in Vietnam in 2015, recently, French retailer Auchan with 18 supermarkets in Ho Chi Minh City, Hanoi and Tay Ninh Province has decided to withdraw from Vietnam’s market. The chain generated US$50.4 million in 2018 and is still suffering losses. Therefore, Auchan decided to cease its business in Vietnam to cut loss and is in the progress to negotiate with its partner about handing over its existing outlets in Vietnam. Being a subsidiary of Parkson Holdings Berhad, a member company of Lion Group, Parkson joined the Vietnamese market since 2005 and became one of the first department store operators here. However, several department stores of Parkson were closed one after another, signalling a gloomy future of this network in Vietnam. Metro Cash&Carry is one of the first European retailers entering the Vietnamese market to … [Read more...] about Retailers struggle to survive in Vietnamese market
VietNamNet Bridge - As a fast developing retail market in Asia, Vietnam has attracted many foreign retail giants in recent years. However, Vietnamese retailers still control 75 percent of market share. Vietnam has attracted many foreign retail giants Big C has 35 supermarkets in many cities and provinces, MM Mega Market has 19 retail centers, and Lotte March 13 supermarkets and hypermarkets, while Aeon, which has just arrived, also has four supermarkets. Foreign retail brands have also developed convenience stores. In HCMC alone, there are 1,000 convenience stores with Family Mart, B’s Mart, Circle K, Ministop and Shop & Go brands, which are gradually replacing traditional groceries. The business expansion plans by the foreign brands has caused worries to domestic retailers. Family Mart, for example, stated it will open 1,000 shops by 2020, while 7-Eleven wants to open 1,000 by 2027. A survey by Savills in HCMC in 2017 showed that 17 percent of consumers preferred going to … [Read more...] about Do Vietnamese retailers have the upper hand over foreigners?
Starting as a small cooperative with its first supermarket in the down town of Ho Chi Minh City, Saigon Co.op has gone on to become one of leading retail brands in Vietnam. After 20 plus years, the brand has 100 supermarkets, three hypermarkets, three trade centers and more than 450 Co.op Food and Co.op Smile outlets. In 2017, Saigon Co.op had sales of nearly VND30 trillion ($1.29 billion), up 7 percent against 2016. "To further expand our business, the company will also increase the number of hypermarkets. There will also be a chain of high-end shops selling carefully selected products," said Do Quoc Huy, marketing director of Saigon Co.op. Another big domestic name is Vingroup. In the first nine months of 2018, the group's retail sales reaped revenues of VND4.73 trillion (around $203 million), accounting for 20 percent of its total revenues. In 2017, Vingroup's retail revenues reached nearly VND14 trillion ($600 million). With the aim of having its retail business bring in 50 … [Read more...] about Domestic retailers’ revenue up, foreign firms accumulate losses in Vietnam
Illustrative photo (Photo: VNA) HCM City (VNA) – Domestic retailers must work to outline rational business strategies to gain a competitive edge over their foreign rivals, especially as the local retail market has become more attractive than ever to foreign investors. According to statistics from the General Statistics Office, thanks to strong growth, the Vietnamese retail market has been billed as an apple in the eyes of foreign investors. The retail sale market was valued at 88 billion USD in 2010, which surged to 130 billion USD seven years later, and is expected to reach 179 billion USD by 2020. American consulting firm A.T. Kearney said that Vietnam is now home to 800 supermarkets, 150 shopping malls, 9,000 traditional markets, and some 2.2 million household shops. In the past year, more than 100 convenience stores were opened in the country, most of which are owned by foreign firms and groups. Japanese giant Family Mart has put 130 stores into operation in Vietnam so … [Read more...] about Domestic retailers strive to gain competitive edge