Vietnam Latest News - Inside Retail Asia

Vietnam online shopping rises

Data released by the Vietnam eCommerce and Information Technology Agency (VECITA) shows Vietnam online shopping was worth US$2.97 billion in 2014.

Prada Vietnam makes debut

Prada Vietnam has opened its first official store – in the capital city of Hanoi.

Jollibee to open 330 stores

Jollibee Foods will open 330 new stores in 2015 on the back of a solid boost in sales and profit last year.

Struggling Vietnam mall offers free space

The Hoa Binh Company says it has “reserved” 25,000sqm of space in its Hoa Binh Green City shopping mall in Hanoi, free for Vietnamese retailers.

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…

Hooters in major Asian roll-out

Hooters of America has signed an extensive development agreement to open 30 new Hooters QSR restaurant locations throughout Southeast Asia over the next six years.

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…