Retail News CRM

Author: Mei Ling Tan

  • Vietnam’s Auto Market Zooms Ahead: 15% Hike in Sales with Hybrids and Imports in the Lead

    Vietnam’s Auto Market Zooms Ahead: 15% Hike in Sales with Hybrids and Imports in the Lead

    The Vietnamese auto market has witnessed a significant growth of 15% in sales during the first half of 2026, as compared to the same period last year. A substantial portion of this growth can be attributed to the robust sales of imported and hybrid vehicles. Cumulative sales during this period amounted to 149,761 vehicles, which presents an increase of 4% from the previous month with total sales reaching 31,104 vehicles, as per a report by the Vietnam Automobile Manufacturers’ Association (VAMA).

    The Uneven Recovery of the Auto Market

    Despite the substantial growth, the auto market recovery in Vietnam appears to be inconsistent. When compared to June 2025, the sales for June 2026 reflect a decrease of approximately 2.7%. The first half of the year marked the sales of over 100,000 passenger cars, around 38,000 commercial vehicles, and nearly 10,865 hybrid vehicles, which witnessed a remarkable growth of 83% year-on-year.

    The surge in the sales of hybrid vehicles suggests a growing preference for fuel-efficient and environmentally friendly vehicles. VAMA reported the sale of 2,347 hybrid vehicles in June alone, marking an increase of 41% from the previous month and nearly double the sales in June 2025, making hybrid vehicles the most rapidly growing sector in the auto market.

    Competitive Landscape and Market Growth Prospects

    Among the brands under VAMA, Toyota secured the leading position with the sale of 6,494 vehicles in June, accounting for nearly 27% of the total sales. They were followed by Mitsubishi with 3,158 units sold, and then Ford with 2,741 units. Kia and Mazda, both distributed by THACO, sold 2,675 and 2,361 vehicles respectively, making it to the top five best-selling brands of June.

    The competition has been intensifying in the market, as reflected by the narrowing gap in sales among the leading brands. It spans across various segments including B-segment sedans, urban SUVs, MPVs, and pickup trucks.

    Industry experts anticipate that the positive performance in the first half of 2026 will lay a strong foundation for greater growth in the second half. Several automakers are planning to introduce new models, expand their hybrid and electric vehicle lineups, and implement promotional programs to boost demand.

    Given the competitive auto loan interest rates, stable supply of vehicles, and a diverse product range, Vietnam’s automotive market is likely to sustain its growth momentum for the rest of 2026. SUVs, MPVs, and hybrid vehicles are expected to continue to drive overall market sales.

    Questions & Answers

    What is the growth rate of sales in the Vietnamese auto market in the first half of 2026?
    The Vietnamese auto market recorded a growth rate of 15% in sales in the first half of 2026.

    Which are the top-performing vehicle brands in June 2026?
    Toyota, Mitsubishi, Ford, Kia, and Mazda were the top-performing vehicle brands in June 2026.

    What type of vehicles are expected to drive overall market sales for the rest of 2026?
    SUVs, MPVs, and hybrid vehicles are expected to be the key drivers of overall market sales for the rest of 2026.

  • Revolutionizing Employee Health: LivWell Broadens Wellness Ecosystem in Vietnam with Innovative InsurTech Solutions

    Revolutionizing Employee Health: LivWell Broadens Wellness Ecosystem in Vietnam with Innovative InsurTech Solutions

    LivWell, a leading Singapore-based InsurTech firm, has announced plans to broaden its OneHealth employee benefits scheme in Vietnam. The expansion includes the development of specialized insurance solutions, focused on various health conditions.

    The company’s decision to expand its services and offerings was announced during a strategic conference held in Ho Chi Minh City, where LivWell also revealed new partnership agreements with InSmart and DiaB.

    Revolutionising Health and Wellness Benefits

    LivWell aims to transform OneHealth from a traditional employee benefits solution, primarily focused on medical expense reimbursement, into a comprehensive healthcare platform. This integrated platform is aimed at consolidating preventive care, financial protection and long-term health support.

    This all-inclusive platform combines numerous elements of health, including insurance, healthcare services, wellness incentive programs, and health monitoring tools, all within a single application.

    For employers, OneHealth delivers a unified view of workforce health and benefits utilization, aiding benefits management. Meanwhile, employees can use the LivWell app to monitor their health indicators while availing themselves of health screenings, workplace wellness activities, and healthcare services.

    Emphasizing the need for proactive health management, Nikhil Verma, Co-Founder and Group CEO of LivWell, said, “We aim to help organizations cultivate healthier workplaces where health is proactively managed and every employee gets the necessary support throughout their wellness journey.”

    Enhancing Workplace Productivity and Reducing Out-of-Pocket Expenses

    LivWell cited studies to illustrate that a staggering 70% of adults believe wellness programs boost workplace productivity. However, Vietnamese households continue to pay nearly 39.5-40% of healthcare expenses out of pocket, despite having public and private health coverage. This figure starkly contrasts with the World Health Organization’s recommended out-of-pocket expenses in the range of 15-20%.

    LivWell’s partnerships with InSmart and DiaB aim to address these issues. The collaboration allows users to submit insurance claims and monitor benefits through the LivWell app, in addition to providing remote consultations, personalized nutrition guidance, and chronic disease management services.

    Additionally, LivWell announced plans to create insurance products specifically for individuals with certain health conditions, starting with cancer. Noting the financial burden of cancer treatment, the company mentioned that patients often pay up to 70% of the treatment cost by themselves.

    Balakrishnan Ambat, Co-Founder and CEO of LivWell Vietnam, reiterated the company’s commitment to not only providing for treatment costs but also encouraging healthier lifestyles to prevent illness.

    LivWell’s expanded ecosystem and future condition-focused insurance products intend to contribute to the evolution of employee health benefits in Vietnam, by aiding businesses in investing in workforce wellbeing and expanding access to healthcare services throughout different life stages.

    Since 2020, LivWell has served over 320,000 users and supported more than 450 businesses, including small and medium-sized enterprises, with employee benefits and wellness programs.

    Questions & Answers

    What is LivWell’s OneHealth?
    OneHealth is an employee benefits solution by LivWell. The company plans to transform it into a comprehensive healthcare platform integrating preventive care, financial protection, and long-term health support.

    What are some of the features of the OneHealth platform?
    OneHealth combines health insurance, healthcare services, wellness incentive programs, and health monitoring tools within a single application. It provides employees with health screenings, workplace wellness activities, and healthcare services.

    What is the aim of LivWell’s partnerships with InSmart and DiaB?
    The collaborations with InSmart and DiaB will allow users to submit insurance claims and monitor benefits through the LivWell app. They will also provide remote consultations, personalized nutrition guidance, and chronic disease management services.

  • Vietnam Gold Prices Hit Two-Week Downtrend Amidst Global Market Shifts

    Vietnam Gold Prices Hit Two-Week Downtrend Amidst Global Market Shifts

    On Tuesday, Vietnam witnessed its lowest gold prices since the start of July, resulting from a decline in worldwide prices due to escalating tensions in the Middle East. The price of a gold bar from the Saigon Jewelry Company fell 0.88%, to VND147.1 million (equivalent to US$5,604.76) per tael. In Vietnam, a tael is a unit of weight equivalent to 37.5 grams or 1.2 ounces.

    Gold Market Trends

    The price of gold rings also saw a decrease, falling by 0.54% to VND146 million per tael. The drop in gold prices this year has amounted to a 3.7% decrease overall.

    On the worldwide stage, after experiencing a 3% drop on Monday, gold prices made a minor recovery. This was following an announcement by U.S. President Donald Trump that he was re-establishing a naval blockade on Iran. This action led to a rise in oil markets, renewed fears about inflation, and the potential for the longevity of higher U.S. interest rates. As a result, spot gold increased by 0.28% to $4,011.10 per ounce.

    Expert Insights

    Market analyst at Forex.com, Fawad Razaqzada, commented on the situation, explaining that the rally in oil prices was a result of the conflict in the Middle East and suggested policy tightening by the Federal Reserve. He also noted that these developments spelled bad news for assets like gold, which yield no interest.

    Razaqzada further speculated, “If oil prices continue to surge, gold prices might experience a downfall, potentially dropping to the $3,800 level initially. There is also a chance they could drop to $3,500 over time if the selling pressure intensifies.”

    Questions & Answers

    What caused the drop in Vietnam’s gold prices?
    The decrease was primarily due to a dip in global gold prices, spurred by increased tensions in the Middle East.

    How has the global gold market reacted to recent events?
    After a 3% plunge on Monday, global gold prices have slightly recovered following the US President’s decision to reinstate a naval blockade on Iran.

    What impact could rising oil prices have on the gold market?
    According to market analysts, if oil prices continue to surge, gold prices could potentially drop significantly, possibly down to $3,500 over time if the selling pressure increases.

  • US Dollar Takes a Dip against Vietnamese Dong Amid Global Uncertainties

    US Dollar Takes a Dip against Vietnamese Dong Amid Global Uncertainties

    The performance of the United States dollar presented a mixed picture on Tuesday, as it dipped slightly against the Vietnamese dong while maintaining its position against other key currencies. The state-owned Vietcombank recorded a 0.04% reduction in the greenback’s value, with an exchange rate set at VND26,450. However, in contrast, the black market saw the US dollar appreciate by 0.11%, pegged at the same exchange rate.

    Global Performance of the Dollar

    In the wider international scene, the dollar remained relatively stable as markets anticipated the release of U.S. inflation data. Rising tensions in the Middle East provided a boost to oil prices which, in turn, had a knock-on effect on currency exchange rates. The Japanese yen traded in a cautious manner, due in part to potential interventions and recent comments made by policymakers regarding the allocation of state pension funds.

    The dollar index, a tool used to compare the value of the greenback against a selection of international currencies such as the yen and euro, also recorded a slight decrease of 0.04%, resulting in a figure of 101.23.

    Meanwhile, the euro showed a strengthening trend against the dollar, trading at a rate of $1.1388. The British pound also saw a minor gain of 0.07%, resulting in an exchange rate of $1.3355.

    Questions & Answers

    What was the exchange rate of the US dollar against the Vietnamese dong?
    The state-owned Vietcombank listed an exchange rate of VND26,450 for the US dollar, showing a minor drop of 0.04%.

    What influenced the performance of the Japanese yen?
    The Japanese yen was affected by several factors, including potential interventions and recent policy-related comments on state pension fund allocations.

    How did the euro and the British pound perform against the US dollar?
    Both the euro and the British pound displayed a strengthening trend against the dollar. The euro traded at a rate of $1.1388, while the British pound gained 0.07%, resulting in an exchange rate of $1.3355.

  • World Cup Fever Ignites Retail Boom: How Vietnamese Consumers Score Big with Huge Discounts

    World Cup Fever Ignites Retail Boom: How Vietnamese Consumers Score Big with Huge Discounts

    In Vietnam, the excitement of the 2026 World Cup has sparked a shopping frenzy, as consumers eagerly take advantage of retail promotions. With retailers offering substantial discounts on household appliances and fashion items, Vietnamese shoppers have been quick to seize the opportunity.

    Major Discounts on Household Appliances

    One shopper, Hang, who resides in Ho Chi Minh City (HCMC), had been monitoring prices for a few months. In early June, she successfully purchased a slow juicer at half its regular price, thanks to a World Cup promotion. She excitedly shared how previous discounts on the product, which only ranged from 10-20%, hadn’t been enticing enough. However, with the price slashed by over half, she made the purchase immediately.

    Another Ho Chi Minh City resident, Lan Anh, also capitalized on the ongoing promotions to purchase a variety of household appliances, including a television and a vacuum cleaner. Anh noted that aside from the significant markdowns, retailers were also providing additional incentives such as vouchers and gifts as part of interactive match prediction programs.

    The World Cup’s influence also extends to the electronics retail market. Several electronics retailers in HCMC have been actively promoting televisions in light of the football event. Various TV models have been discounted significantly, with some prices reduced by as much as 61%. This has been described as the most substantial price-cutting campaign for TVs to date, with large-screen models being heavily discounted to meet the tournament-driven demand.

    Boost in Retail Sectors Beyond Electronics

    While electronics retailers are witnessing a surge in sales, other consumer goods retailers haven’t been left behind. Saigon Co.op, for example, offers discounts of up to 30% on almost half of their snack, beer, and beverage bundles, targeted at football fans. They are even rewarding customers making large purchases with gifts.

    Fashion retailers are also leveraging the World Cup frenzy to their advantage. Pierre Cardin Shoes and Oscar Fashion reported the simultaneous launch of their World Cup’s Vancouver 2026 collection in six markets: Vietnam, Cambodia, Myanmar, Thailand, Laos, and Canada. Since the campaign’s inception, store traffic has reportedly increased by more than 55%, and sales have reached approximately 65% of the campaign’s target.

    The World Cup’s impact on global retail activity is projected to be highly positive, with predictions suggesting it could contribute up to $41 billion to global GDP by stimulating tourism, services, and consumption.

    Questions & Answers

    Q: How have Vietnamese consumers reacted to the World Cup retail promotions?
    A: Vietnamese shoppers have been quick to take advantage of the significant discounts offered by retailers during the World Cup, leading to a shopping frenzy.

    Q: Which sectors have seen a boost in sales due to the World Cup?
    A: The electronics sector, particularly TV sales, has seen a substantial boost, along with other consumer goods retailers and the fashion industry.

    Q: What has been the impact of the World Cup on global retail activity and GDP?
    A: The World Cup is expected to have a highly positive impact on global retail activity and could potentially contribute up to $41 billion to the global GDP by boosting tourism, services, and consumption.

  • Jaspal Ropes in Globally-experienced Damien Corcoran as New CEO to Bolster International Expansion

    Jaspal Ropes in Globally-experienced Damien Corcoran as New CEO to Bolster International Expansion

    Renowned Thai retailer Jaspal has announced the appointment of Damien Corcoran as their new Chief Executive Officer with immediate effect. Corcoran boasts an impressive background in international leadership, with extensive experience in retail and consumer sectors spanning Europe, the Middle East, and Asia.

    A Proven Leader

    Corcoran’s most recent role was at the helm of the Isle of Man Meat Company, serving as chairperson. Earlier, he demonstrated his leadership prowess as the CEO of Grandiose Supermarkets and Catering in Dubai. Corcoran also held the position of international vice-president at Whole Foods Market, where he guided the company through expansion into international markets in the wake of its acquisition by Amazon.

    His expertise lies in a number of areas, including business transformation, retail operations, commercial strategy, and international growth – all skills that will prove invaluable in his new role.

    Steering Jaspal Towards Future Growth

    As Jaspal’s new CEO, Corcoran will spearhead the business’s ongoing efforts to solidify its market position and extend its international reach. Jaspal’s portfolio is home to 19 brands, showcasing popular in-house labels such as Jaspal, CPS, Lyn, CC Double O, Lyn Around, Jelly Bunny, and CPS Coffee.

    In addition, Jaspal holds distribution rights for a number of international brands like Fred Perry, Asics, Diesel, Puma, Melissa, Marithé + François Girbaud, and Satur. The company operates over 400 retail outlets and points of sale globally, complemented by its robust e-commerce platforms.

    Jaspal expressed that Corcoran’s appointment marks a significant stride in its long-term growth strategy, aimed at bolstering its competitive stance and opening up new avenues of opportunity across the region.

    Questions & Answers

    Who is the new CEO of Jaspal?
    Damien Corcoran has been appointed as the new CEO of Jaspal.

    What previous roles has Damien Corcoran held?
    Corcoran has previously served as the chairman of the Isle of Man Meat Company, CEO of Grandiose Supermarkets and Catering in Dubai, and international vice-president at Whole Foods Market.

    What is Jaspal’s growth strategy under Corcoran’s leadership?
    Under Corcoran’s leadership, Jaspal aims to strengthen its market position and expand its global presence.

  • Adidas Unveils Experiential Lifestyle Hub in Bangkoks Songwat District: A Fusion of Fashion, Street Culture & Community

    Adidas Unveils Experiential Lifestyle Hub in Bangkoks Songwat District: A Fusion of Fashion, Street Culture & Community

    Adidas has recently inaugurated a flagship store in the Songwat district of Bangkok, further broadening its experiential retail strategy. This engaging destination seamlessly meshes fashion, street culture, and community involvement.

    A Blend of Retail, Customization, and Community Space

    The two-level establishment unifies retail, food, drink, product customization, and cultural offerings all under one roof. A carefully chosen collection of Adidas Originals merchandise is featured on the ground floor. Meanwhile, the upper level is graced by the specialty coffee brand, % Arabica, which aims to promote longer visits and social engagement.

    The store is further embellished with a Maker Lab for product personalization, a photobooth, and an exclusive Graphic Tee Collection. This collection is the result of a collaboration with local artists and can only be found at this particular Songwat store. It takes inspiration from the district’s rich heritage and presents it through a modern perspective.

    According to Adidas, the design and layout of the store are in line with their Originals’ strategy of transforming brick-and-mortar retail into creative hubs. These spaces not only accommodate commerce but also foster creativity, culture, and a sense of community.

    This opening comes on the heels of the introduction of Adidas’ flagship store at Jewel Changi Airport in Singapore last year. That location also featured experiential zones that drew inspiration from the local culture and storytelling.

    Questions & Answers

    What does the new Adidas store in Bangkok offer?
    The new Adidas store in Bangkok’s Songwat district offers a blend of retail, food and beverage, product customization, and cultural experiences. It also features an exclusive Graphic Tee Collection created in collaboration with local artists.

    What is the strategy behind the design and layout of the Adidas store?
    The design and layout of the store reflect Adidas Originals’ strategy of transforming physical retail into destinations that foster creativity, culture, and community, in addition to commerce.

    What is unique about the Graphic Tee Collection at the new Adidas store?
    The Graphic Tee Collection, which is exclusively available at the Songwat location, is a collaborative work with local artists. It draws inspiration from the neighborhood’s heritage and presents it through a contemporary lens.

  • Fast-Fashion Leader Shein Secures Approval for High-Profile Hong Kong IPO after Setbacks

    Fast-Fashion Leader Shein Secures Approval for High-Profile Hong Kong IPO after Setbacks

    Fast-fashion retail giant Shein has received authorization for its much-anticipated Initial Public Offering (IPO) process in Hong Kong, bringing it one step closer to a listing after unsuccessful runs in both New York and London. This news came from the China Securities Regulatory Commission (CSRC) on Friday, offering Shein the endorsement it has been seeking for over a year.

    Shein’s journey to the IPO stage has been hindered by a variety of factors, including weak investor sentiment and conservative spending habits among lower to middle-income consumers. The retailer’s journey to the stock market is therefore noteworthy, with many other consumer brands opting to postpone their IPOs in the current financial climate.

    Shein’s Journey to the IPO

    Shein was established by Sky Xu, a Chinese-born entrepreneur, in 2012. The IPO approval was contingent upon approval from the highest echelons of the ruling Communist Party in China, due to various controversies surrounding the brand. The controversies included a scandal involving a sex doll in France and allegations of poor labor standards in its supplier factories in China.

    Despite these scandals, Shein has shown resilience. The IPO’s confidential nature and the company’s decision not to make the filing documents public suggests that the retail giant is embracing its Chinese origins, rather than distancing itself. This is contrary to the strategies of many Western fashion companies, which have sought to reduce their Chinese exposure.

    Shein’s Current Financial Status

    Shein was valued at a staggering US$100 billion in 2022. However, as the online shopping boom brought on by the pandemic began to wane and a customs duty loophole for e-commerce parcels in the US was closed, the brand’s value decreased. In the latest fundraising round in May 2023, Shein was valued at just $66 billion.

    Shein’s IPO goal is speculated to be between $40 billion to $50 billion. The company plans to sell up to 8 percent of its shares, but the final stake sold is expected to be lower, thus generating low single-digit billions of dollars.

    Shein’s unsuccessful attempts to list in New York and London indicate the challenges faced by Chinese-linked companies due to geopolitical tensions. Despite moving its headquarters to Singapore in 2022, Shein is still subject to Chinese IPO rules as its products are largely manufactured by third-party suppliers in China.

    Questions & Answers

    What controversies has Shein faced?
    Shein has been involved in several controversies, including a scandal involving a sex doll in France and allegations of substandard labor practices in its supplier factories in China.

    What is the projected worth of Shein’s IPO?
    Shein is targeting an IPO valuation of between $40 billion and $50 billion.

    Why has Shein’s valuation decreased since 2022?
    Shein’s valuation has decreased due to the diminishing online shopping boom brought on by the pandemic and the closure of a customs duty loophole for e-commerce parcels in the US.

  • Onitsuka Tiger Unveils Worlds Biggest Flagship Store in Tokyo, Offers Immersive Retail Experience

    Onitsuka Tiger Unveils Worlds Biggest Flagship Store in Tokyo, Offers Immersive Retail Experience

    Onitsuka Tiger, a renowned Japanese fashion label, has inaugurated its most expansive flagship store globally in Tokyo’s Shinjuku district. This notable move precedes the brand’s impending transformation into a distinct, independent subsidiary.

    The flagship outlet, sprawling over 1837 square meters and distributed across four floors, provides a comprehensive display of Onitsuka Tiger’s product collection. This includes their Heritage line, the Contemporary range that spotlights runway collections from the prestigious Milan Fashion Week, and The Onitsuka formal footwear series.

    Unique to this store is the brand’s debut in-store entertainment area, alongside proprietary merchandise and engaging retail experiences. The store’s design, masterminded by the Milan-based Studio Dini Cataldi, incorporates a ‘vertical narrative’ theme. Each floor distinctly showcases a variety of materials, hues, and aesthetics, derived from a fusion of Japanese artistry and Italian design elements. The building’s defining architectural feature is its Tiger Yellow concrete facade.

    Onitsuka Tiger aspires for their outlets to serve as destinations where visitors can delve into the brand’s ethos and history. The new flagship store epitomizes both the brand’s rich legacy and its innovative spirit. Being the largest global flagship store, it amalgamates all product categories under one roof, offering a novel brand experience to visitors worldwide.

    This grand opening is closely followed by the announcement from the parent company, Asics, of its plans to transition the Onitsuka Tiger business into a fully owned subsidiary, the OT Group, effective from January 1 of the coming year. This strategic restructuring aims to provide the fashion label with increased operational autonomy, thereby facilitating quicker decision-making and bolstering its global expansion aspirations.

    Questions & Answers

    What does the new Onitsuka Tiger flagship store in Tokyo’s Shinjuku district offer?

    The massive flagship store showcases the brand’s full range of products, including their Heritage line, the Contemporary collection featuring highlights from Milan Fashion Week, and The Onitsuka formal footwear series. The store also debuts the brand’s in-store entertainment area, exclusive merchandise, and immersive retail experiences.

    What is the concept behind the store’s design?

    Conceptualized by Milan-based Studio Dini Cataldi, the store design incorporates a ‘vertical narrative’ theme, with each floor distinctly showcasing diverse materials, colors, and aesthetics. This is inspired by a blend of Japanese craftsmanship and Italian design, culminating in its signature Tiger Yellow concrete facade.

    What is the purpose of the brand’s restructuring?

    The restructuring, announced by parent company Asics, is set to transform the Onitsuka Tiger business into a wholly-owned subsidiary named OT Group. This strategic move is intended to grant the fashion label greater operational independence, thereby enabling faster decision-making and supporting its global growth ambitions.

  • Five Guys Joins US Fast-Food Frenzy in China with First Beijing Outlet Opening

    Five Guys Joins US Fast-Food Frenzy in China with First Beijing Outlet Opening

    Five Guys, an American burger chain, is set to open its first outlet in Beijing in the coming month, joining a surge of American fast-food brands either entering or rapidly expanding within China. This comes on the heels of the establishment of the brand’s first Chinese outlet in Shanghai in 2021. According to a statement made by the company last week, it is aiming to open three outlets in Beijing’s prime shopping centers, primarily targeting younger consumers. Construction activities are already underway, indicating that the openings are not far off.

    American chains like Wendy’s, Chili’s, Texas Chicken, and Popeyes are all vying for a piece of the world’s second-largest consumer market as they face oversaturation in their domestic markets, according to industry analysts. Sandy Lim, a China consumer analyst at S&P Global Ratings, stated that some smaller American chains are exploring possibilities in China to counterbalance the oversaturation in their domestic markets.

    Lim elaborated, “Despite fierce competition, there are still pockets of demand within China’s large catering market.” She explained that unlike previous foreign brands that depended on direct operations overseen by overseas headquarters, exposing them to profits, losses, and market volatility, many American brands nowadays prefer franchising models.

    Wendy’s, listed on Nasdaq, announced in May its plans to open up to 1,000 stores across China in the next decade. As per its first-quarter earnings report, the company has entered into a new franchise agreement with an experienced local restaurant operator, who remains unnamed.

    In the first quarter, the burger chain’s sales, in the same stores, fell by 7.8% year on year, while its system-wide sales in international markets rose by 6% from the previous year.

    Texas Chicken, another American fast-food chain, plans to open its first Chinese outlet in Shanghai this summer. In an April statement, the company announced its partnership with Deke Shengtang, a well-established local operator with several quick-service restaurant brands, to develop a minimum of 600 restaurants across the country over the coming years.

    Chili’s, yet another American chain, opened its second store in Beijing in May. Meanwhile, the Louisiana-based fried chicken brand, Popeyes, made a comeback to Beijing in April, nearly twenty years after it left China in 2003. This chain currently has over 80 outlets in Shanghai.

    Adapting to the Chinese Market

    Fu Yifu, a special research fellow at Su Merchants Bank, noted that inflation continues to affect household spending in the U.S., while the presence of Western fast-food brands in China continues to grow.

    Early market entrants like KFC, McDonald’s, and Starbucks have developed localized franchising models to mitigate risks. Five Guys is positioning itself to appeal to quality-conscious consumers in first-tier cities. Fu emphasized that Chinese consumers are not automatically attracted to foreign brands anymore. To succeed, these brands must offer differentiated products and adopt localized operations.

    Questions & Answers

    What is Five Guys’ expansion plan in China?
    Five Guys plans to open three stores in Beijing’s popular shopping centers, targeting younger consumers. This follows the opening of its first China outlet in Shanghai in 2021.

    What strategy are American fast-food chains employing in China?
    Many American fast-food chains are opting for franchising models in China, partnering with experienced local operators. This model reduces their exposure to market volatility compared to direct operations managed by overseas headquarters.

    What approach is Five Guys taking to appeal to Chinese consumers?
    Five Guys is targeting quality-focused consumers in first-tier cities. As Chinese consumers are not automatically attracted to foreign brands, the company is focusing on offering differentiated products and adopting localized operations.

  • Home Credit Vietnam Triumphs Again: Wins Coveted Finance and Sustainability Awards for 2026

    Home Credit Vietnam Triumphs Again: Wins Coveted Finance and Sustainability Awards for 2026

    Home Credit Vietnam has been awarded ‘Finance Company of the Year’ for the second consecutive year, and also received the ‘Sustainability Initiative of the Year’ at the Asian Banking & Finance Retail Banking Awards 2026. The awards acknowledge the company’s robust business performance, as well as its endeavors in financial inclusion, promoting environmentally friendly consumption, and fostering community development.

    Striving for Sustainable Growth

    The FiinGroup’s Vietnam Consumer Finance Report 2026 indicates that Vietnam’s consumer finance market is evolving, with a shift in focus towards the quality of growth, operational efficiency, and risk management in the wake of a period of market instability. In this context, Home Credit Vietnam has consistently invested in augmenting its governance capabilities and integrating technology into its operations and customer service. The company has fortified its credit assessment models and digital systems, which has facilitated quicker processing of applications and honed loan portfolio management.

    Moreover, the company has crafted financial solutions tailored to diverse customer segments, considering their repayment capacity, and has enhanced the transparency of product information and loan terms to aid customers in making more informed borrowing decisions. These efforts have culminated in Home Credit Vietnam receiving the ‘Finance Company of the Year’ award, which acknowledges financial institutions based on their operational performance and adaptability to fluctuating market conditions. The company’s 2025 financial statements reveal a 36.8% increase in total assets compared to the start of the year, with an after-tax profit of VND2.077 trillion (US$79 million).

    Embedding Sustainability in Business Practices

    Pham Ngoc Khang, the Chief Strategy Officer and Chairman of Home Credit Vietnam’s ESG Steering Committee, emphasized that sustainable development forms a key part of the company’s long-term strategy. He asserted that a company’s growth should align with the interests of customers and communities, as financial solutions are truly meaningful only when they improve the quality of life and broaden people’s access to financial services.

    The company’s sustainability strategy, which was recognized by the ‘Sustainability Initiative of the Year’ award, centers on increasing access to responsible finance, promoting green consumption, and supporting community development. In 2025, Home Credit Vietnam launched preferential financing packages for electric motorcycles to spur the use of zero-emission transportation. They also broadened their financial literacy initiatives. By the end of 2025, the company’s Home Smart online platform had reached over 21 million people, and they had organized personal finance management workshops for over 4,000 students and women.

    Questions & Answers

    What awards did Home Credit Vietnam receive at the Asian Banking & Finance Retail Banking Awards 2026?
    Home Credit Vietnam was recognized as ‘Finance Company of the Year’ for the second year in a row and also received the ‘Sustainability Initiative of the Year’ award.

    What are some of the initiatives Home Credit Vietnam has undertaken to promote sustainable growth?
    The company has been investing in enhancing its governance capabilities, integrating technology into its operations, and crafting tailor-made financial solutions for diverse customer segments. They have also increased the transparency of product information and loan terms to aid customers in making informed decisions.

    What is the focus of Home Credit Vietnam’s sustainability strategy?
    The sustainability strategy of the company involves expanding access to responsible finance, promoting green consumption, and supporting community development. They have launched financing packages for electric motorcycles and extended their financial literacy initiatives to promote responsible lending.

  • VinFast Vietnam Doubles Capital to $388M, Streamlining Global Auto Design and Sales

    VinFast Vietnam Doubles Capital to $388M, Streamlining Global Auto Design and Sales

    VinFast Vietnam, a budding organization specializing in the design and sale of VinFast vehicles, recently increased its capital funds substantially. The company doubled its capital from VND5.18 trillion to VND10.18 trillion, equivalent to US$388 million, by issuing 500 million preference shares. This significant financial move was announced on July 13 via the National Business Registration Portal. Alongside this, it was revealed that foreign ownership within the company has seen a decline from 10.4% to 5.3%.

    Company Restructuring and Roles

    The creation of VinFast Vietnam was initiated on June 19, following the sale of the automaker’s manufacturing operations, VFTP, to Tuong Lai Company. This company is financially backed by billionaire Pham Nhat Vuong along with a group of investors. VinFast Vietnam has been assigned the responsibilities of global research and development, managing after-sales services, and overseeing sales operations.

    The managerial roles within VinFast Vietnam have been clearly delineated. Pham Nhat Vuong, the founder of the parent organization, serves as the company’s CEO. On the other hand, Thai Thi Thanh Hai, a seasoned executive from Vingroup, has been appointed as the chairwoman.

    Questions & Answers

    What led to the creation of VinFast Vietnam?
    The company was established after the sale of automaker manufacturing operations, VFTP, to Tuong Lai Company.

    What are the primary responsibilities of VinFast Vietnam?
    The company is in charge of global research and development, after-sales services, and sales operations.

    Who are the key executives of VinFast Vietnam?
    Pham Nhat Vuong serves as the company’s CEO, while Thai Thi Thanh Hai is the chairwoman.

  • Techcombank Leverages Digital Finance to Tap into Vietnams $100 Billion Infrastructure Nexus

    Techcombank Leverages Digital Finance to Tap into Vietnams $100 Billion Infrastructure Nexus

    Techcombank, Vietnam Technological and Commercial Joint Stock Bank, is strategizing to bridge global capital with Vietnam’s escalating investment needs. The bank is placing digital financial infrastructure at the forefront, seeing it as a pivotal factor for the country’s next economic growth stage.

    Techcombank is expressing its aspiration to be instrumental in channeling both local and global capital towards Vietnam’s economic progression. In furtherance of its goals, it co-hosted the Vietnam Financial Forum 2026 (VFF 2026) from July 9th to 10th in Danang. The forum attracted over 350 attendees, including policymakers and executives from domestic and international financial institutions and companies.

    Modernizing Vietnam’s Capital Markets

    The forum centered on the modernization of Vietnam’s capital markets, bolstering the country’s financial infrastructure, and enhancing corporate access to capital. The country’s government aims to achieve double-digit economic growth from 2026 through to 2030.

    Digital and green finance took center stage at the forum. Delegates deliberated on how new technologies and the digital transformation of the financial infrastructure could ease capital flow and bolster Vietnamese companies.

    Techcombank CEO, Jens Lottner, in his keynote speech, pointed out that the bank’s role goes beyond conventional financing. He stated, “We are constructing the digital infrastructure that allows capital, data, and financial services to flow smoothly through the economy.” The CEO also revealed Techcombank’s goal to be Vietnam’s most reliable financial platform and to help efficiently channel domestic and international capital into sectors generating sustainable economic value.

    $100 Billion Investment Goal

    The funding of Vietnam’s rapidly expanding infrastructure needs was a key focus of the forum. Techcombank executives and representatives of their partner ecosystem discussed potential areas for the next $100 billion investment. The conversations included infrastructure, energy, and industrial development, as well as tactics to draw capital from global institutional investors.

    Techcombank emphasized mechanisms for luring foreign investment and steering international capital towards strategic Vietnamese projects. Lottner mentioned that Techcombank is ready to share its experience in developing digital ecosystems and utilizing data and technology to connect citizens, companies, investors, and public services.

    Techcombank aims to contribute its financial resources, tech expertise, and global network to the development of a more modern and transparent financial ecosystem through its participation in the Vietnam Financial Forum. The bank currently services around 18 million retail and corporate clients and operates one of Vietnam’s top digital banking platforms.

    Questions & Answers

    What is Techcombank’s primary aim in Vietnam’s economic development?
    Techcombank aims to facilitate the efficient allocation of both domestic and international capital into sectors generating sustainable economic value, leveraging digital financial infrastructure.

    What were the key areas of focus at the Vietnam Financial Forum 2026?
    The forum focused on modernizing Vietnam’s capital markets, strengthening the country’s financial infrastructure, and improving corporate access to capital. Other areas of focus included digital finance, green finance, and the role of technology in facilitating capital flow.

    What is Techcombank’s strategy for meeting Vietnam’s growing infrastructure needs?
    Techcombank intends to attract and steer international capital towards strategic projects in Vietnam. It also aims to share its experience in developing digital ecosystems and using data and technology to connect various sectors, including citizens, companies, investors, and public services.

  • FamilyMart Revolutionizes Retail with Innovative Flagship Store Concept in Tokyo

    FamilyMart Revolutionizes Retail with Innovative Flagship Store Concept in Tokyo

    FamilyMart, Japan’s widely recognized retailer, has launched its first Famima flagship store in Tokyo, marking a significant reimagining of the conventional convenience store as the company gears up for its 45th anniversary.

    FamilyMart’s Next Generation Retail

    Located in Tokyo’s upscale Azabudai district, the 217sqm store is a striking deviation from the traditional convenience store model. It features a unique blend of convenience, lifestyle products, and fashion; an official unveiling of a fresh retail concept. The new store boasts a ‘Convenience Wear’ apparel section, interactive styling tools, and exclusive merchandise. It also provides multilingual support to cater to a diverse customer base.

    The store design goes beyond the indoors, featuring outdoor seating areas, a rooftop garden, and even a takeaway counter.

    This innovative venture is part of FamilyMart’s ‘Next FamilyMart Project,’ an initiative aimed at experimenting with novel store formats, merchandising approaches, and customer experiences, with the potential for successful concepts to be implemented more broadly in the market.

    FamilyMart’s Collaboration and Expansion Strategy

    The store’s concept was conceived in partnership with renowned Japanese creative director Nigo. This collaboration underscores FamilyMart’s growing emphasis on delivering an experience-focused retail model that expertly melds lifestyle products, fashion, and design with the retailer’s staple convenience offerings.

    FamilyMart is expanding its intellectual property strategy with the introduction of a new Famima brand character. Merchandise featuring the new character is making its debut at the flagship store, with plans for a wider rollout across Japan in the future.

    Insights gleaned from the flagship store in Tokyo will influence future store expansions, with the expectation of gradually introducing selected concepts to FamilyMart’s nationwide network.

    FamilyMart’s representative director and president, Tatsuo Odani, stated, “Our new Famima initiative aims to unlock the full potential of convenience stores and bring it to life. Transformation and evolution, with a view to the future, will be necessary for sustained growth. Through collaboration with creators, we aim to infuse even more creativity, enjoyment, and excitement into the convenience store experience.”

    This initiative represents FamilyMart’s broader strategy to redefine the convenience store model in response to evolving customer expectations that extend beyond speed and accessibility to more distinct and unique retail experiences.

    Questions & Answers

    What is the Next FamilyMart Project?
    This is FamilyMart’s initiative to test new store formats, merchandising approaches, and customer experiences that could later be implemented across the market.

    What does the new Famima flagship store offer?
    The store offers a unique blend of lifestyle products, fashion, and convenience, featuring a ‘Convenience Wear’ apparel section, interactive styling tools, exclusive merchandise, outdoor seating, a rooftop garden, and a takeaway counter.

    What’s new about FamilyMart’s intellectual property strategy?
    FamilyMart has introduced a new Famima brand character as part of an expanded intellectual property strategy. Character-themed merchandise has debuted at the flagship store with plans for a broader rollout across Japan in the future.

  • VinFast Shatters Records with Over 115,000 EVs Sold in H1 2026: Dominates Vietnamese Auto Market

    VinFast Shatters Records with Over 115,000 EVs Sold in H1 2026: Dominates Vietnamese Auto Market

    In the first six months of 2026, Vietnamese electric vehicle manufacturer VinFast marked significant growth in the domestic market, reporting a 72% year-on-year increase with a record preliminary domestic delivery of 115,916 electric vehicles (EVs). This impressive performance positions VinFast as the first automotive brand in Vietnam to exceed 100,000 vehicle deliveries within the first half of the year.

    VinFast’s Strong Market Presence

    The month of June alone saw the delivery of 17,955 units, maintaining VinFast’s status as the country’s top automobile brand for the 21st consecutive month. With the Limo Green leading in sales with 3,868 vehicles delivered in June, closely followed by the VF 3 model which saw 3,550 units moving into the hands of customers.

    The success of the VF 5 and its derivative model, the Herio Green, continued with combined deliveries reaching 3,364 units. This was ahead of the VF 6’s total of 2,988 units. The VF 7 and the VF MPV 7 models also had a steady sales performance with 1,437 and 1,254 units delivered respectively.

    Over the span of six months, the Limo Green and the VF 3 emerged as VinFast’s leading models in the Vietnamese market with cumulative deliveries of 27,927 and 23,781 units respectively. Furthermore, the VF 5 and the Herio Green saw a combined delivery of 20,167 vehicles. Other models such as the VF 6, VF MPV 7, and VF 7 also maintained a steady performance with 14,045, 9,177, and 6,849 units delivered respectively.

    New Arrival in the Product Line

    VinFast is not just resting on its laurels. The automaker recently unveiled the VF 2, a compact urban EV, and has opened pre-orders in Vietnam with a price tag of VND188 million (US$7,200). Deliveries to customers are scheduled to begin as early as September.

    Questions & Answers

    What milestone did VinFast achieve in the first half of 2026?
    VinFast became the first automotive brand in Vietnam to surpass 100,000 vehicle deliveries within the first half of the year.

    What are the top-selling models of VinFast in Vietnam?
    The Limo Green and the VF 3 are the top-selling models of VinFast in Vietnam, with cumulative deliveries of 27,927 and 23,781 units respectively in the first half of 2026.

    What is the latest model introduced by VinFast?
    VinFast recently introduced the VF 2, a compact urban EV, which is currently available for pre-orders in Vietnam.