Vietnam’s Vingroup buys Fivimart
Vietnamese retail giant Vingroup has fully acquired grocery chain Fivimart, after Aeon ended its partnership.
All 23 Fivimart stores will be converted into Vinmart-branded supermarkets, expanding the network to 100 stores nationwide.
The new Vinmart stores will also sell fresh groceries, products from VinEco, VinMart Cook, and Vinmart Home.
The acquisition was done through Vingroup’s retail subsidiary Vincommerce, which also operates 1400 Vinmart+ convenience stores.
According to Vincommerce GM, Thai Thi Thanh Hai, the company plans to open 100 Vinmart supermarkets and 4000 Vinmart+ stores by 2020.
Until now, Vinmart+ is the largest c-store chain in Vietnam. Its Japanese rival FamilyMart expects to have 300 stores by the end of this year, about the same number as Circle K has in the country, while the newest player from Korea, GS25 has opened 18 stores eight months after it entered Vietnam.