Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Vietnam retail sector.

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Parkson profits slump

Parkson Retail Asia has reported a 24.6 per cent slump in net profit – largely attributed to new store establishment costs. The Singapore-based department store operator has reported a second quarter trading profit of S$10.23 million. The company’s biggest problem markets appear to be Malaysia and Vietnam where same store sales are showing negative growth. And in Vietnam the company accrued costs relating to the closure of a store in the capital city, Hanoi. Total sales revenue was fl…

Thais’ bold plan for Vietnam chain

Having bedded down its acquisition of 49 per cent of Vietnam’s Nguyen Kim electrical goods retailer, Thailand’s Central Group has now revealed the partnership has a five year business plan. The companies say they want Nguyen Kim to become “the top consumer electronics retailer in Vietnam and the Southeast Asian region”. That plan includes expanding the store network from the current 20 nationwide to 50 by 2019. The two did not reveal ambitions for the brand outside Vietnam, but Cen…

Aeon buys stake in Vietnam supermarkets

Japan’s Aeon has taken strategic shareholding in two Vietnamese supermarket chains, extending a strategic alliance established last year. The company has bought a 49 per cent stake in Citimart which has 27 supermarkets, mostly in Ho Chi Minh City. And it has taken 30 per cent of Fivimart, another chain with 20 stores in Hanoi, the capital. Aeon formed strategic alliances with both chains last year, supplying its house branded products to all the stores, which added the Aeon logo to its s…

Counterfeit appliance business exposed

Vietnamese authorities have cracked a counterfeit appliance retailing business passing off cheap Chinese appliances as branded European goods. Thanh Nien News reports that a company called Romal Vietnam was selling gas ranges, electric stovetops, ovens and blow dryers inside supermarkets, online and at shopping centres in many provinces and cities across the nation. A nationwide crackdown has now been launched by teams of inspectors from the National Steering Committee for Combating Smuggl…

Good to be old

In suburban Ho Chi Minh City, a unique ‘collectibles boutique’ draws stock from all over the world.

Thailand’s Central expands Vietnam footprint

Thailand electrical goods and home entertainment operator PowerBuy has made a strategic investment in Vietnam. PowerBuy’s parent Central Group, has bought a 49 per cent stake in Nguyen Kim, the highest profile electrical goods trader in Vietnam, which has 23 stores nationwide. Nguyen Kim is known for its high profile locations, noisy store-front promotions and generally high prices amongst Vietnamese consumers. But its brand strength has given it solid market share – as high as 40 per ce…

Berli Jucker’s Vietnam Metro deal stalls

Thai company Berli Jucker’s plan to buy German Metro Group’s Vietnam unit has stalled after shareholders voted down the necessary resolution at an extraordinary meeting. BJ’s shareholders unanimously rejected the plan to spend  €655-million (25 billion baht), fearing the company would face high financial and litigation risks due to additional conditions relating to the settlement of the deal. Last August, BJ reached an agreement with the German business to buy its Vietnamese opera…

Parkson committed to Vietnam

Malaysian department store operator Parkson has shrugged off negative publicity about its Vietnam operations saying it remains committed to the market. Today, (Monday January 11), Parkson opens its 10th store in the market, in the fast-growing beachside city Danang. “Parkson remains positive on the retail market in Vietnam as can be seen in the opening of Parkson store in Danang… as part of our expansion plans,” CEO Toh Peng Koon said on Friday. Earlier this month Parkson closed o…

LuLu plans SE Asian money shops

LuLu Group, the Emirates-based retail group, is looking to open a network of money exchanges in southeast Asian countries. According to media reports in the Gulf, Lulu Group plans money exchanges in Thailand, Vietnam and the Philippines, where it opened a liaison office late last year. The company had already announced plans to open hypermarkets in Malaysia and Indonesia and now, according to reports, Hong Kong is on its radar also. LuLu Group had earlier scheduled its first Malaysian h…

Parkson closes Vietnam store

Parkson has closed one of its Vietnam department stores. Concessionaires inside the Parkson Landmark 72 centre in Hanoi were reportedly told to remove their stock by January 3 and the store has ceased trading. According to Vietnamese media reports, Parkson cited poor sales in the centre for its demise. “Since the store opened in 2011, Parkson Landmark’s performance has not a day been registered with any sales that could achieve our expectation and we also understand that your counte…

Mobile giant plans major boost

Vietnam’s largest player in mobile phone retailing plans massive expansion of its ‘mobile supermarket’s format in 2015. Mobile World, trading as The Gioi Di Dong with its distinctive bright yellow retail stores, and online as Thegioididong.com and Dienmay.com, has about 350 stores throughout Vietnam having added 125 last year. This year it says it will open another 123, taking its network to 473 and anticipates achieving US$1 billion in sales. The new stores will increase its shar…

Dairy Queen in Taiwan, Vietnam roll-out

US-based fast food chain Dairy Queen has re-entered Taiwan and opened its first store in Vietnam. Its Taiwan partner, Jolly Brands, has opened a Dairy Queen location in the Tianmu neighbourhood of Taipei. The company plan to open 45 stores throughout the country within the next five years. In Vietnam, Dairy Queen has signed a multi-unit deal with QSR Vietnam Trading One Member Company to open its first store in Ho Chi Minh City. The store is located in Nguyen Thi Minh Khai in a part of the…