Retail News CRM

Tag: City Mart

  • Yangon food court a first for Myanmar

    Yangon food court a first for Myanmar

    Myanmar has its first Japanese-style food court, thanks to a joint venture between City Mart Holdings and Japanese trading company Sojitz Corp.

    Tokyo Dining City, home to six restaurants, opened on Wednesday inside a new commercial building in Yangon’s CBD. The Yangon food court can seat 200 diners and primarily targets office workers.

    Tokyo Dining City Myanmar

    “Japanese food has gained great popularity in Myanmar and there are many Japanese restaurants here,” Zar Ni Kyaw, operations manager of Tokyo Dining City, said in an interview with local media.

    “What makes us different from the others is that we aim to present genuine Japanese dining and Japan’s culture of hospitality to our customers in Myanmar.”

    The two companies say they plan to open more such food courts elsewhere in Myanmar in the future.

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  • Potential seen in Myanmar retail

    Potential seen in Myanmar retail

    With significant potential seen for the Myanmar retail sector, a new survey shows that most businesses there, both local and international, plan to expand in the coming year.

    Meanwhile, details have yet to be finalised for a new law that aims to make it easier to invest in Myanmar.
    Surveying nearly 200 senior executives at companies working in Myanmar, the Roland Berger consultancy found that 70 per cent of local businesses and 80 per cent of international ones are aiming for growth over the next 12 months.

    “I don’t know any other country right now where you’d get that statistic,” says Roland Berger Southeast Asia managing partner Thomas Klotz. “No-one is really scaling back, though some are in the waiting period.”

    There is “huge potential” in the retail sector, according to the Myanmar Times. One of the country’s largest modern retailers, City Mart, has announced plans to double the number of its supermarkets, treble the number of its convenience stores and enter the eCommerce sector with a click-and-collect service.

    “If we look at the distribution of basic commodities, such as soap and detergent, the distribution may be 100 per cent,” says City Mart Holding MD Win Win Tint. “But for more advanced products like fabric softener and hair conditioner, distribution is limited to big cities – maybe only 20 per cent of the country. There is so much opportunity to grow.”

    She says the main hurdles are finding sites to develop or convert into shops – “the cost is very high” – and finding a suitable platform for its eCommerce business that can withstand the emerging challenge of Facebook Shop.

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  • IFC to provide $25m funding for Myanmar’s largest retail group City Mart

    IFC to provide $25m funding for Myanmar’s largest retail group City Mart

    The International Finance Corporation, the World Bank Group’s private lending arm has signed for a $25 million loan to be provided to City Mart Holding Company Limited, the largest private retail group in Myanmar, to finance the expansion of the retail business in the country.

    Currently, CMHL has over 150 retail outlets in the country and plans to construct about 20 more supermarkets and hypermarkets over the next three years.

    Its plans are “to increase its purchases from domestic suppliers six fold, reaching around $150 million by 2021, and create nearly 4000 new jobs, half of which will be for women,” according to the filing.

    IFC hopes that CMHL’s expansion in the retail sector in the country, will help create jobs, develop supply chain and logistics infrastructure and support smaller businesses.

    “With our global expertise and industry knowledge, we will be delighted to work with CMHL to improve efficiency and standards to become a model retailer in Myanmar,” said Vivek Pathak, IFC’s regional director for East Asia and Pacific.

    CMHL’s shareholders are Win Win Tint, the founder and managing director and her relatives.

    “IFC’s investment is a sign of confidence in our business plan as well as in Myanmar’s retail sector potential,” said Win Win Tint. “In addition to funding, IFC’s expertise and advice on food safety, good social and environmental practices and corporate governance will also help us take the company to the next level.”

    Myanmar has a $12 billion retail sector that is predominantly informal with formal retailers holding less than 10 per cent of the market, according to the filing.

    IFC is supporting reforms and investments in Myanmar, to strengthen the private sector and create new jobs for poverty reduction and boost shared prosperity. IFC works together with the government, private sector to improve the investment climate, access to finance and infrastructure. Their initial focus is on power and telecommunications.

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  • Myanmar City Mart eyes US$25m expansion

    Myanmar City Mart eyes US$25m expansion

    The Work Bank Group’s International Finance Corporation (IFC) has invested US$25m in Myanmar’s largest private retailer Myanmar City Mart Holding (CMHL) to expand its operations, create jobs and boost Myanmar’s retail sector.

    CMHL plans to use the loan to construct 20 additional supermarkets and hypermarkets over the next three years, adding to the 150 stores operating in Myanmar.

    The new operations are expected to increase CMHL’s purchases from domestic suppliers six-fold, hitting US$150m by 2021, and creating more than 4,000 jobs, half of which will be for women.

    “IFC’s investment is a sign of confidence in our business plan as well as in Myanmar’s retail sector potential,” founder and managing director Win Win Tint said in a company statement.

    “In addition to funding, IFC’s expertise and advice on food safety, good social and environmental practices and corporate governance will also help us take the company to the next level.”

    “IFC supports the development of a modern retail sector in developing countries as it helps spur growth and job creation, develop supply chain and logistics infrastructure, and support smaller businesses,” said Vivek Pathak, IFC regional director for East Asia and Pacific. “With our global expertise and industry knowledge, we will be delighted to work with CMHL to improve efficiency and standards to become a model retailer in Myanmar.”

    CMHL was established in 1996 and today operates supermarkets, hypermarkets, bakeries, pharmacies and convenience stores across Myanmar.

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