Local retail group Saigon Co.op has acquired the Auchan Vietnam business. Auchan will transfer its 15 closed store spaces and the three remaining stores still trading in Ho Chi Minh City’s Districts 7 and 1, along with its e-commerce and supply-chain retail system to Saigon Co.op.
According to the arrangement, Saigon Co.op will renovate the closed stores and restore operations under their own brands which include Co.opMart, Finelife and Co.opXtra.
The three stores still trading will maintain their Auchan branding until next Lunar New Year.
In May, Auchan decided to pull out of Vietnam after consistent losses.