Sumitomo Corporation is accelerating its expansion plan for its FujiMart grocery supermarket chain in Vietnam, eyeing about 50 new stores by 2028 through its extended partnership with BRG Group.
The retail chain aims to open five to 10 stores per year from FY2022, including new stores in Ho Chi Minh City. FujiMart offers a product range, sales floor design, and freshness management tailored to local needs that are based on Japanese-style supermarket operations.
“In recent years, the overall grocery retail market in Vietnam has been expanding rapidly due to rising personal incomes and improved living standards bolstered by economic growth,” Sumitomo said in a statement.
“Growing consumer awareness in areas of food security and safety, including hygiene measures taken to fight Covid-19 infections, has led to a shift from traditional retail outlets run by individual proprietors to modern stores, such as supermarkets and convenience stores which offer superior levels of safety and convenience.”
Launched in 2018 in Hanoi, FujiMart Vietnam currently operates three stores in the city. Under the partnership, BRG group owns 51 per cent of FujiMart while Sumitomo holds the remaining stake.