Vietnam Archives - Page 3 of 6 - Inside Retail Asia

Hong Kong remains top global retail priority

Hong Kong is still Asia’s most coveted city for global retailers wanting to expand into Asia. A report from property company JLL shows Hong Kong leads Shanghai, with Singapore in third spot. While Hong Kong’s high retail rents make entry into the market difficult, other barriers to entry remain low. Shanghai is popular because retailers see it as a major market, a westernised environment and the perfect launch pad for expansion into greater China. And Singapore appeals because of…

Koreans take Cuckoo to Vietnam

Korean cookware appliance chain Cuckoo Electronics has opened its second branded store in Vietnam. The new store opened in Hanoi Trung Hoa on Saturday. It follows the company’s entry into the nation with a store in Ho Chi Minh City’s expatriate district Phu My Hung in July. A Cuckoo spokesperson said the company proceeded with the second store because of the popularity of the launch store. There is a large expatriate Korean population in Vietnam, largely centred in Ho Chi Minh City, ne…

Swedish homewares chain expands in Vietnam

Swedish home furnishing brand Uma has become Vietnam’s largest furniture retail chain. Uma Vietnam is a joint venture between Sweden’s Uma and local Vietnamese partners. This week the company has opened a store in Ha Noi’s Ba Dinh district, taking the network to 10 with another store scheduled to open in Ha Noi’s Dong Da district in December. Uma sells crockery, furnishings, furniture, storage solutions, office amenities, and other home decorations. t hasa design studio in Vietn…

Filipino group to build Myanmar mall

The Philippines’ giant property developer Ayala Group is to build a new mall in Myanmar in a joint venture with local supermarket operator City Mart. The mixed use project will be constructed in Yangon and follows an earlier commitment by Ayala Group to construct a US$30 million residential project in the fast opening-up nation. “I think what City Mart wants to do is they have properties that they want to convert. If I’m not mistaken, they plan retail establishments in Yangon,” Paolo Bor…

Vietnam cafe heads to Middle East

Vietnamese coffee brand Trung Nguyen is to expand into the United Arab Emirates. Trung Nguyen is Vietnam’s largest manufacturer and distributor of packaged coffee under its own and G7 brands and has one of the nation’s largest branded coffee chains. Dubai-based Global Hotels Management (GHM) has secured franchise rights for the brand in the UAE and will open two Trung Nguyen coffee shops in Dubai within six months. Over the next five years, GMH plans to open about 100 coffee shops t…

Malaysia, Vietnam drag Parkson down

Department store operator Parkson Retail Asia has posted a first quarter profit fall of 33.1 per cent after poor sales in Vietnam and Malaysia. But the company says measured on a same store basis, the decline would have been 8.2 per cent and with currency fluctuation discounted from the result, seven per cent. Its disappointing result came despite a 33.2 per cent increase in sales in its Myanmar store and improved performance in Indonesia where consumer sentiment is on the rise. The com…

Aeon opens second Vietnam mall

Aeon has opened its second shopping mall development in the industrial city of Binh Duong, an hour from downtown Ho Chi Minh City. Aeon Mall Binh Duong Canary boasts some 150 stores (including 40 Japanese retailers, 18 of them new to Vietnam. It is also home to Vietnam’s largest food court yet with more than 60 vendors selling foods from all over the world. This will be Aeon’s second mall in Vietnam followed by Aeon Mall Tan Phu Celadon opened this January which has already proved to b…

German fashionista opens first store: in Vietnam

An edgy German online fashion boutique has opened its first retail store – in Vietnam. Established in Germany as an online store only, Floralpunk has now opened its first physical jewellery store in the heart of Saigon. The concept was founded by Founded by Julia Thuy Linh Doan, a 22 year old Vietnamese living in Berlin “but with my heart in Saigon” and her partner Madox. “I’m a student, blogger, lash extension artist and founder and co-owner of the online shop www.floralpunk.…

Franchise consultant expands to Bangkok

South East Asian specialist franchising and licensing consultancy Vietnam Franchises (VF) has expanded, opening its third office in Bangkok, Thailand. The expansion supports the growing demand for its services in Thailand and ASEAN, it says. According to Sethaphong Phadungpisuth, Vietnam Franchises (VF) country director and MD of Gnosis Company, “the franchising industry in Thailand has been growing rapidly and many international franchises have already entered the Thai market successfully.…

Lotte to sell stores to raise capital

Korea’s Lotte Shopping plans another major sale and leaseback deal to boost cash for expansion. After a successful sale-and-lease-back project in August raised 600 billion won, the company has now identified another portfolio of department stores and discount outlets it will sell, this time hoping to raise another 500 billion won. The Korea Economic Daily quotes an investment banker who says Lotte has appointed Daiwa Securities as underwriter to the new sell-off, which will only affect d…

Apple to ramp up Vietnam presence

Apple is set to announce an official ‘accredited distributor’ in Vietnam. The distributor has been identified by Vietnam’s Tuoi Tre newspaper as FPT, a Vietnamese telco with a chain of retail stores already selling Apple products. Apple phones and computers are widely available in Vietnam, through grey importers and authorised partners. A thriving business is based on importing Apple products bought overseas from a variety of sources and imported in personal baggage. Airline crew are fre…

Dairy Queen still keen on India

Dessert chain Dairy Queen is seeking a partner to expand into India. The US based company, owned by private equity investor Berkshire Hathaway, operates about 6000 Dairy Queen stores in more than 20 countries and is committed to a progressive roll-put strategy in Asia, especially. Its stores sell a range of soft serve ice cream products, but sells some burgers and other fast food lines at outlets branded DQ Restaurant and DQ Grill & Chill. Earlier talks with reliance Retail broke do…